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THE IMPACT OF
INFORMATION TECHNOLOGY ON THE BANKING INDUSTRY IN NIGERIA
ABSTRACT
This project work is on the impact of
information technology in the banking industry. 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 Bank and the
customers that patronize their services. The research instrument used for data
collection were questionnaire and oral interviews. Descriptive analysis was
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: Improve the information technology to help them
enhance efficiency of the services and satisfy their customers. That the bank
should continue to source for information that would help them satisfy their
customers. 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 bank has a vital role to play in enhancing the
efficiency of the services provided by the company.
TABLE OF CONTENTS
CHAPTER
ONE
INTRODUCTION
1.1
Background of study
1.2
Statement of
Problem
1.3
Objective of
Study
1.4
Research
Questions
1.5
Significance of the Study
1.6
Scope of the
Study
1.7
Definitions of Terms
References
CHAPTER TWO
2.1
Literature Review
2.2
Banking Environment in Nigeria
2.3
The Component of a Modern Information
2.4
The Impact of Information
Technology
References
CHAPTER
THREE
Research Design and
Methodology
3.1 Sources of
Data
3.2 Area of
Study
3.3 Population of the
Study
3.4 Sample Size
Determination
3.5 Research
Instrument
3.6 Treatment of
Data
3.7 Questionnaire
Distribution
References
CHAPTER
FOUR
Data Presentation and
analysis
4.1 Data
Presentation
CHAPTER
FIVE
Findings Recommendations and
conclusion
5.1 Summary of
Findings
5.2
Recommendation
5.3 Conclusion
Bibliography
CHAPTER ONE
1.0
INTTRODUCTION
1.1
BACKGROUND OF THE STUDY
The world is a global village. It is due to the global state of the world that
bedsore becomes such an organic economic activity aimed at producing goods and
services. In this light of this organic nature of business, it constantly
changes with improvement in science and technology. Business man and women have
seen the need to also change their mode of carrying out business activities. In
order to keep abrest with the current practice and to effectively face
the constant and new challenges experienced in the business.
The growing expectation challenges, prompt the busies community into evolving
means to smoothen the performance of business. There are number of challenges
in business. These challenges are characterized by the constant changes in
trade of customer as well as the competitors all towards achieving or
controlling the patronage of the majority of the customer in the entire
industry.
According to Nwukwu, 1998 on article written on 29th September, 1998
which says that many baulas in the past has strive to improve their counter
services and reduce to the minimum, the waiting time of such services by
employing more staff to cope with the increasing number of customers.
But this did not yield much result, with the advent of information technology
in banks, like all banks have 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 waiting of customer. With the help of information technology all
banks according to information systems, the decision making proves loans and
credit evaluation and other banking services have been very efficient. To all
banks and offices 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 banks must be determined by the
peculiarity of its customers.
Thus to compete favourable 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 successful business. To this end, this research work is set to
study and research on “using management information system (MIS) to improve
customer services and growth in the banking industry”.
1.2
STATEMENT OF PROLEM
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 generation or generalization of banks have realized the
imperative of goods and prompt customer services. Also due to the fact that
some customers have now become wiser more discerning alert and sophisticated
with regard to closing where it is safe to put their money and where they would
be saved promptly, preferably in a pleasant, courteous looking at the level of
service and professionalism of the banks before depositing their funds.
Proximity to the banks 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 of the banks, they can provide quality service 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 the
customers have started associating quality of service in bank with the bank’s
possession of online real time system. In fact, possession of such system is
now judged to be the sine quanon of a high quality banking services in Nigeria.
1.3
OBJECTIVE OF THE STUDY
Among the objectives
of the study are:
(a)
To explore the relationship between information technology and service delivery
ability of banks.
(b)
To investigate the effect of information technology investment on profitability
of the banks on customer loyalty.
(c)
To investigate the effect of information technology.
(d)
To relate the advent of information technology to the effect of service
delivery on all banks.
(e)
To suggest how banks executive can direct and manage the investment information
technology and maximize profit.
1.4
RESEARCH QUESTIONS
1.
What are the opinions of customers regarding the information and technology in
efficient operation of bank service.
2.
Through which means do customers know the existence of bank services.
3.
What are the customers rating on the banking services rendered by banks.
4.
Do customers believe that good information technology increases the competitive
position of banks.
5.
What are the opinions of customers to the current information technology in
banks.
6.
Opinion on company’s customers relationship.
7.
Is there any staff relationship with management of the company.
8.
Staff opinion regarding information dissemination channel.
9.
What are the staff level with information technology on ground.
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 presently used in the banking industry are telephone,
wireless radiophone, computer system, automated teller machine (ATM), very
small opportune terminal satellite (VSAT), telegraph, etc. so for a bank to be
perceived as providing high quality services to customer in a more timely,
friendly and considerable manner at no cost to the customers. The use of
information technologies increase the bank productivity in most banks, banks
can now attend to a lot of customers since information technology speeds up
cashiers’ work. The study revealed that information technology has appreciable
positive effects on the banks productivity, cashiers service and bank service,
banking transaction, bank patronage and customer services. These affect the
growth of the banking industry in Nigeria positively because customers can now
collect money from branch of their bank and the stress and risk of travelling
or carrying a huge sum of amount is avoided due to the introduction of ATM
cards.
Information technology also plays a role in the enquiry of a customer state of
account, this has been made easy with the invent of information technology
because with the introduction of mobile banking one can get access to his
bank detail using the (GSM) global system mobile or using the internet.
1.6
SCOPE OF THE STUDY
The
study covers all commercial banks in Nigeria but the research work focuses on
some selected banks in Enugu metropolis.
1.7
DEFINITION OF TERMS
1.
Management information system
This is the formal
method of making available to management the accurate, timely information
necessary to facilitate the decision making process and enable them i.e the
organization planning functions be carried out effectively.
2.
Electronic data processing
This is where data
processing takes place for a few organization function usually use
accounting and billing this concept of computer base.
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