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IMPACT
OF INFORMATION TECHNOLOGY IN BANKING INDUSTRY
(A CASE STUDY OF SKYE
BANK)
ABSTRACT
This project work is on the impact of
information technology in the banking industry. And Sky Bank will be
chosen as a case study.
In doing this, both
primary and secondary data were collected to solve the research problem.
The population of the study comprises of the personal of Sky Bank and the
customers that patronize their services.
The research
instrument used for data collection were questionnaire and oral interviews.
Tables, frequencies and percentages were used in presenting and analyzing the
data collected. The chi – square statistics was used at 5% level of
significance to test the various hypothesis.
From the data
analysis, the researcher came up with the following findings:
-
That the customer are not satisfied with the level of information technology of
the Bank
-
Then based on the findings above the researcher recommended the following that
the bank should:
(a)
Improve the information technology to help them enhance efficiency of the
services and satisfy their customers
(b)
That the bank should continue to source for information that would help them
satisfy their customers.
(c)
The problem of funds and high cost of information should be taken care of by
releasing fund which will be used to improve the quality of information
technology of the bank.
The conclusion of this study is that
information technology of Sky bank has a vital role to play in enhancing the
efficiency of the services provided by the company.
TABLE OF CONTENTS
CHAPTER ONE
1.0 Introduction
1.1
Background of the study
1.2
Statement of
Problem
1.3
Objective of the Study
1.4
Research Hypothesis
1.5
Significance of the Study
1.6
Scope of the study
1.7
Definition of
Terms
CHAPTER TWO
2.0 REVIEW OF RELATED
LITERATURE
2.1
Review Of Related
Literature
2.2
Banking environment in Nigeria
2.3
Application of information system
2.4
applied in banking industry
2.5
Types of information system allied in
banking industry
2.6
The impact of information technology to Skye Ban
2.7
Organizational Profile
CHAPTER THREE
3.0 RESEARCH
METHODOLOGY
3.1
Sources of
Data
3.2
Area of Study
3.3
Population of Study
3.4
Sample of six Determination
3.5
Research Instrument
3.6
Treatment of Data
3.7
Questionnaire Distribution
CHAPTER FOUR
4.0 Data
presentation, analysis and interpretation
CHAPTER FIVE
5.0 SUMMARY OF FINDINGS,
RECOMMENDATION AND CONCLUSION
5.1
Summary of Findings
5.2
Recommendation
5.3
Conclusion
Bibliography
Appendix.
CHAPTER
ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY:
The world is a global village. It
is due to the global state of the world that bedsore became such an organic
economic activity armed at producing goods and services.
In this light of this organic nature of
business, it constantly changes with improvement is science and
technology. Business men and women have seen the need to also change
their mode of carrying out business activities in order to keep abreast with
the current practice and to effectively face the constant and new challenges
experienced or the business.
This growing expectation challenges
prompt the business community into evolving means to smoothen the performance
of business. There are number challenges of business. These
challenges are characterized by the constant changes in trade of customer as
well as the competition in the business circle by other competitors all towards
achieving or controlling the patronage of the majority of the customer in the
entire industry.
According to Nwukw (1998) an article
written on 29th September, which says that many bank in the past has
strive to improve their counter services and reduce to the minimum, the waiting
time for such service by employing more staff to cope with increasing number of
customers.
But this did not yield much result with
the advert of information technology banks, like Skye Bank k head office has
been able to automate some aspect, if not all their operation and this has
resulted to lower cost in terms of paid salaries to staff and wasting of
customer. With the help of information technology in the Skye Bank
according to information systems, the decision making proves, loans and credit
evaluations and other banking services have been very efficient. The Skye
Bank head office having realized the existence in the competitive economy
depends on the level of information technology adopt it protectively.
That the range of information technology adopted by all states bank must be
determined by the peculiarity of its customer.
Thus, to compete favorable and
effectively in the work of today’s complex business environment, the business
has to keep itself abreast with the dynamic changes and also adopt new methods
currently practiced all over the world, i.e by most success and business.
To this end this research world is set to study and research on “using
management information system (MIS) to improve customers service and growth in
the banking industry.
1.2 STATEMENT OF PROBLEM:
Information technology is an
entrepreneurial as corporate resources should be managed and it greatly
increase the opportunities that are available to the organization.
As
a result of the increased demand for customer deposits, Nigerian banks
especially the new generalization bank have realized the imperative of good and
prompt customer service. Also, due to the fact that the some customers lost
their depositin the erstwhile technically insolvent or distressed banks,
customers have now become wiser, more discerning alert and sophisticated with
regard to choosing where it is safe to put their money and where they would
be served promptly, preferably in a pleasant, courteous and friendly
environment. Thus, they have started looking at the level of service and
professionalism of the banks before depositing their funds. Proximity to
the bank is no longer the issue. Safety and the level of service, with
regard to quality, speed and efficiency has become the major imperative.
On
the part f the banks, they have realized that one way in which they can provide
quality service is through the use of technology. Hence there is a
growing rate of adopting new technologies in Nigeria banking operations.
Moreover, there is a growing evidence that customers have started associating
quality of service in a bank with the bank’s possession of online real time
system. Infact, possession of such system is now judged to be the sine quanon
of a high quality banking service in Nigeria.
1.3 OBJECTIVE OF TH STUDY
Among the objective of the study are
(a)
To explore the correlation between information technology and services delivery
ability of banks.
(b)
To investigate the effect of information technology, investment on
profitability of the Skye Bank on customer loyalty.
(c)
To investigate the effect of information technology.
(d)
To relate the advent of information technology to effective services delivery
of Skye Bank.
(e)
To suggest how first, banks executive can direct and managed the image
investment information technology and maximize profit.
1.4 HYPOTHESIS FORMATION:
The null hypothesis will be tested
against the alternative hypothesis.
Ho1:
Customer choice of banks is not a function of the level of information
technology investment of the bank.
Hi:
Customer choice of banks is function of the level of information technology
investment of the bank.
Ho: Customer
loyalty do not depend on a high information technology extent in bank.
Hi:
Customer do not perceive Skye Bank as high information technology bank.
H3:
Customers do perceive all Skye Bank high information technology bank.
1.5 SIGNIFICANCE OF THE STUDY
The impact of
information technology has contributed immensely to the growth of the banking
industry in Nigeria. Some available telecommunication and information
technologies which are presently being used in the banking industry are
telephone, facsimile, wireless radiophone, very small opertun terminal
satellite (VSAT) telegraph and computer system. So, for a bank to be perceived
as providing high quality service, that bank has to have an Information
Technology (IT), system which it uses to deliver service to customer in a more
timely, friendly and considerate manner, at no extra cost to the customers. The
use of information technology increase bank productivity in that with the use
of information technology , the bank can attend to a lot of customer since IT
speeds up cashiers’ work. The study revealed that information technology
has appreciable positive effects on the bank productivity, cashiers service and
bank services, banking transaction, bank patronage and customer services.
These affect the growth of the banking industry in Nigeria positively because
customers can now collect money form any branches of their bank. Also
customers do not need to move about with large sums of money and customers are
being attended to within a short period of time.
The effect of
information technology on an enquiring on a customers’ state of account is
highly appreciated by the customers. It also revealed that telephone,
computer systems and facsimile services are available in nearly all eh banks
making use of information technology. Also the use of ATM (Automatic
teller Machine) has helped greatly in money transaction.
1.6 SCOPE OF
THE STUDY:
Although this study is to cover all
commercial bank. The researcher focus on commercial banks especially
Skybank.
1.7 DEFINITION
OF TERMS:
Management information system, formal
method of making available to management the accurate and timely, information
necessary to facilitate this decision making process and enable the
organization planning functions be carried out effectively.
Electric data
processing; the department where data processing takes place for a few
organization oral function usually accounting and billing this concept of
computer based.
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