This document is a project report submitted in partial fulfillment of requirements for a Bachelor's degree in Banking and Finance. It examines the impact and role of information technology in banking development in Nigeria using selected commercial banks in Anambra State as case studies.
The report consists of five chapters. Chapter one introduces the background, objectives, significance and scope of the study. Chapter two reviews relevant literature on banking, computers, and the role of technology. Chapter three discusses the research methodology used. Chapter four presents the results of the study and data analysis. The final chapter summarizes key findings, provides recommendations, and concludes the report.
The appearance of data innovation to each part of human life and business has been obvious to
the point that it doesn't should be complemented more. Data innovation has been of extraordinary
substance in managing an account framework. This examination expects to explore the impact of
data innovation in the saving money arrangement of Bank. The information are acquired both
through the clients and the workers. The information were then broke down utilizing the correct
rate and the 5-point Liker scale to decide the effect of Information innovation in the saving money
framework undertakings. The discoveries at that point demonstrated that Information innovation
adds to the saving money framework in three diverse routes as tails: IT spares the season of the
clients and the representatives obviously, IT chops down the costs and IT encourages the system
exchanges.
“Digital” is the new buzz word in the banking sector, with banks all around the globe hopping onto the digital bandwagon. Banks of all sizes are making sizeable investments in digital initiatives in order to maintain a competitive edge. Vijaya Bank shows us what are the benefits of the digital banking.
Financial services industry is developing due to the introduction of internet, rapid technological evolutions, deregulation, globalization as well as the impact of changing competitive and regulatory forces. So Financial system plays an important role in the economic development of the country. Because of the advent of information technology there is a change in the banking sector which has paved way for the introduction of retail electronic payment system and has progressed in the recent years in various countries and India has left no way behind. The objective of the paper is to examine and analyze the progress made by the internet banking in India. Bhawna Bhelly | Dr Sunil "Growth of E-Banking in India" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd25082.pdfPaper URL: https://www.ijtsrd.com/management/accounting-and-finance/25082/growth-of-e-banking-in-india/bhawna-bhelly
The appearance of data innovation to each part of human life and business has been obvious to
the point that it doesn't should be complemented more. Data innovation has been of extraordinary
substance in managing an account framework. This examination expects to explore the impact of
data innovation in the saving money arrangement of Bank. The information are acquired both
through the clients and the workers. The information were then broke down utilizing the correct
rate and the 5-point Liker scale to decide the effect of Information innovation in the saving money
framework undertakings. The discoveries at that point demonstrated that Information innovation
adds to the saving money framework in three diverse routes as tails: IT spares the season of the
clients and the representatives obviously, IT chops down the costs and IT encourages the system
exchanges.
“Digital” is the new buzz word in the banking sector, with banks all around the globe hopping onto the digital bandwagon. Banks of all sizes are making sizeable investments in digital initiatives in order to maintain a competitive edge. Vijaya Bank shows us what are the benefits of the digital banking.
Financial services industry is developing due to the introduction of internet, rapid technological evolutions, deregulation, globalization as well as the impact of changing competitive and regulatory forces. So Financial system plays an important role in the economic development of the country. Because of the advent of information technology there is a change in the banking sector which has paved way for the introduction of retail electronic payment system and has progressed in the recent years in various countries and India has left no way behind. The objective of the paper is to examine and analyze the progress made by the internet banking in India. Bhawna Bhelly | Dr Sunil "Growth of E-Banking in India" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd25082.pdfPaper URL: https://www.ijtsrd.com/management/accounting-and-finance/25082/growth-of-e-banking-in-india/bhawna-bhelly
A Study On Customer’s Perception And Satisfaction Towards Electronic Banking ...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Use of technologies in the banking sector of BangladeshMasum Hussain
Among the financial service industry, the banking sector was one of the first to embrace rapid globalization and benefits significantly from technology development. The technological revolution in banking started in the 1950s, with the installation of the first automated bookkeeping machines at banks. This was well before the other industries became tech savvy. The first Automated Teller Machine (ATM) is reported to have been introduced in the USA in 1968 with only a cash dispenser. Automation in banking have become widespread over the past few decades as banks quickly realized that much of their labor intensive information-handling processes could be automated the use of computers. Against this background the paper examines the technology driven banking services reference to the present and future of Technology driven banking in Bangladesh.
This presentation is about technology internet banking or net banking which is very essential and helpful in our daily life..so in this ppt basic and some advance concepts are highlighted. i am sure this will be very much help full for u
Top cited managing information technology articlesIJMIT JOURNAL
The International Journal of Managing Information Technology (IJMIT) is a quarterly open access peer-reviewed journal that publishes articles that contribute new results in all areas of the strategic application of information technology (IT) in organizations. The journal focuses on innovative ideas and best practices in using IT to advance organizations – for-profit, non-profit, and governmental.
A Study On Customer’s Perception And Satisfaction Towards Electronic Banking ...iosrjce
IOSR Journal of Business and Management (IOSR-JBM) is a double blind peer reviewed International Journal that provides rapid publication (within a month) of articles in all areas of business and managemant and its applications. The journal welcomes publications of high quality papers on theoretical developments and practical applications inbusiness and management. Original research papers, state-of-the-art reviews, and high quality technical notes are invited for publications.
Use of technologies in the banking sector of BangladeshMasum Hussain
Among the financial service industry, the banking sector was one of the first to embrace rapid globalization and benefits significantly from technology development. The technological revolution in banking started in the 1950s, with the installation of the first automated bookkeeping machines at banks. This was well before the other industries became tech savvy. The first Automated Teller Machine (ATM) is reported to have been introduced in the USA in 1968 with only a cash dispenser. Automation in banking have become widespread over the past few decades as banks quickly realized that much of their labor intensive information-handling processes could be automated the use of computers. Against this background the paper examines the technology driven banking services reference to the present and future of Technology driven banking in Bangladesh.
This presentation is about technology internet banking or net banking which is very essential and helpful in our daily life..so in this ppt basic and some advance concepts are highlighted. i am sure this will be very much help full for u
Top cited managing information technology articlesIJMIT JOURNAL
The International Journal of Managing Information Technology (IJMIT) is a quarterly open access peer-reviewed journal that publishes articles that contribute new results in all areas of the strategic application of information technology (IT) in organizations. The journal focuses on innovative ideas and best practices in using IT to advance organizations – for-profit, non-profit, and governmental.
Impact of Information Technology on Performance of Banks in NigeriaAJHSSR Journal
Over the last two decades, the Nigerian banking sector has witnessed some upsurge in the use
of technology for service delivery. However, concerns have been expressed as to whether cost and other
challenges of adopting information technology can be justified by performance. Accordingly, this study sought
to examine the relationship between different e-banking channels and the profitability of organisations in
Nigeria. Four e-banking channels,(automatic teller machines, point of sales, internet banking transactions and
electronic mobile banking) were identified and regressed against return on equity (ROE) of Deposit Money
Banks operating in Nigeria between 2006 and 2016. A panel data regression model was formulated and tested
using the generalized method of moment approach. The result revealed that the overall impact of electronic
banking on profitability of Deposit Money Banks operating in Nigeria was significant and positive. The study
recommends that critical stakeholders and beneficiaries of electronic banking – the government, regulatory
authorities and the banks should collaborate to put in place an enabling operating environment and an effective
regulatory framework to bring about optimal deployment of these services to customers
Impacts of Information Technology on Banking Industry A Case Study of Akure B...ijtsrd
As information technology is the modern trend on banking today, its very imperative for banks to access its impact operational performance so as to justify if the capital invested on it is Justifiable or not, analyze their problem and profit possible solutions. The objective of this research is to examine how the adoption of information technology affects the operations of commercial banks and the impact of information technology on banks and customer relationship. The main research instruments used are questionnaire from staffs and customers of the bank,156 questionnaire were distributed and 150 questionnaire were administered. The simple frequency percentage was adopted as the statistical measure and hypothesis testing was analyzed using chi square statistical tool, at 0.05 level of significance to show whether they should be upheld or rejected. The results of this research affirmed that there is significant relationship between management disposition and the utilization of information technology by banks in Nigeria. In conclusion, the study reward that information technology has tremendously improved growth and performance of the Nigeria commercial banks. Information technology has lead to increase customer satisfaction, improved operational efficiency, reduced transaction time, and gives the bank a competitive edge. The study recommends that every bank in Nigeria should not only invest heavily on IT especially the point of sales POS , but should distribute same to business outlets where business owners and customers will have access to smooth and hassle free transactions. It is therefore necessary for the government to emphasize the need for more policies that will boost the efficiency in utilization of IT equipment by reducing the cost of acquiring them so as to reduce cost and boost the growth of the economy. Consequently, it is hereby suggested that further studies be carried out on the impact of Information Technology on development finance institutions. Olaitan S. K | Arijeniwa O. C "Impacts of Information Technology on Banking Industry (A Case Study of Akure Bank Area)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd45242.pdf Paper URL: https://www.ijtsrd.com/management/management-development/45242/impacts-of-information-technology-on-banking-industry-a-case-study-of-akure-bank-area/olaitan-s-k
Wireless Sensor Design for Hospital Managements and Applications; By AMINU Lo...The Titivators Hub
A research work conducted on the improvement otf the use of Wireless Sensors in Hospital Management and Applications.
It suggests a new design model, for the management of health information system and improves on some existing models.
THE CONTRIBUTION OF ELECTRONIC BANKING TO CUSTOMER SATISFACTION: A CASE OF GC...IJMIT JOURNAL
Internet banking has the potential to provide fast and reliable services to customers for which they are relatively happy. Due to the technological changes taking place all over the world, many institutions, including the banking sector have taken giant steps to move in tandem with these changes. In this light most
banks, with GCB Bank, Ghana, not being an exception have introduced electronic banking in order to decongest the banking halls of customers who spend time unending in order to transact business. The purpose of this research was to assess the Contribution of Electronic Banking to Customer Satisfaction at
GCB Bank-Koforidua, to this end some objectives were set for the study. These were: To assess the availability of electronic banking facilities at GCB Bank, Koforidua. To assess the knowledge and patronage of internet banking services by customers, to examine the effectiveness of the usage of electronic banking facilities, to examine the problem facing an internet banking in GCB Bank, Koforidua. This is a quantitative study that employed the use of questionnaires as the main tools for data collection. Data was collected from management, staff and customers of GCB Bank, Koforidua Branch. Findings from analysis of data revealed that though there was the existence of internet banking facilities of the bank, respondents of the study were not fully aware of the existence of such facilities. It was also found that the use of internet banking was quite expensive and that though the bank was utilizing the facility, customers were not fully patronizing them. It was concluded that internet banking brings efficiency in the operations of the bank. Finally, the study recommended that all branches of GCB Bank adopt internet banking facilities to help in effective banking operations and transactional purposes. To maximize the operations and potential of the bank management must endeavor to educate the customers about the existence of internet banking facilities since a few customers were aware of the existence of such facilities.
The Contribution of Electronic Banking to Customer Satisfaction: A Case of Gc...IJMIT JOURNAL
Internet banking has the potential to provide fast and reliable services to customers for which they are relatively happy. Due to the technological changes taking place all over the world, many institutions, including the banking sector have taken giant steps to move in tandem with these changes. In this light most
banks, with GCB Bank, Ghana, not being an exception have introduced electronic banking in order to decongest the banking halls of customers who spend time unending in order to transact business. The purpose of this research was to assess the Contribution of Electronic Banking to Customer Satisfaction at
GCB Bank-Koforidua, to this end some objectives were set for the study. These were: To assess the availability of electronic banking facilities at GCB Bank, Koforidua. To assess the knowledge and patronage of internet banking services by customers, to examine the effectiveness of the usage of electronic banking facilities, to examine the problem facing an internet banking in GCB Bank, Koforidua. This is a
quantitative study that employed the use of questionnaires as the main tools for data collection. Data was collected from management, staff and customers of GCB Bank, Koforidua Branch. Findings from analysis of data revealed that though there was the existence of internet banking facilities of the bank, respondents of the study were not fully aware of the existence of such facilities. It was also found that the use of internet
banking was quite expensive and that though the bank was utilizing the facility, customers were not fully patronizing them. It was concluded that internet banking brings efficiency in the operations of the bank. Finally, the study recommended that all branches of GCB Bank adopt internet banking facilities to help in effective banking operations and transactional purposes. To maximize the operations and potential of the bank management must endeavor to educate the customers about the existence of internet banking facilities since a few customers were aware of the existence of such facilities.
THE CONTRIBUTION OF ELECTRONIC BANKING TO CUSTOMER SATISFACTION: A CASE OF GC...IJMIT JOURNAL
Internet banking has the potential to provide fast and reliable services to customers for which they are
relatively happy. Due to the technological changes taking place all over the world, many institutions,
including the banking sector have taken giant steps to move in tandem with these changes. In this light most
banks, with GCB Bank, Ghana, not being an exception have introduced electronic banking in order to
decongest the banking halls of customers who spend time unending in order to transact business. The
purpose of this research was to assess the Contribution of Electronic Banking to Customer Satisfaction at
GCB Bank-Koforidua, to this end some objectives were set for the study. These were: To assess the
availability of electronic banking facilities at GCB Bank, Koforidua. To assess the knowledge and
patronage of internet banking services by customers, to examine the effectiveness of the usage of electronic
banking facilities, to examine the problem facing an internet banking in GCB Bank, Koforidua. This is a
quantitative study that employed the use of questionnaires as the main tools for data collection. Data was
collected from management, staff and customers of GCB Bank, Koforidua Branch. Findings from analysis
of data revealed that though there was the existence of internet banking facilities of the bank, respondents
of the study were not fully aware of the existence of such facilities. It was also found that the use of internet
banking was quite expensive and that though the bank was utilizing the facility, customers were not fully
patronizing them. It was concluded that internet banking brings efficiency in the operations of the bank.
Finally, the study recommended that all branches of GCB Bank adopt internet banking facilities to help in
effective banking operations and transactional purposes. To maximize the operations and potential of the
bank management must endeavor to educate the customers about the existence of internet banking facilities
since a few customers were aware of the existence of such facilities.
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# Internet Security: Safeguarding Your Digital World
In the contemporary digital age, the internet is a cornerstone of our daily lives. It connects us to vast amounts of information, provides platforms for communication, enables commerce, and offers endless entertainment. However, with these conveniences come significant security challenges. Internet security is essential to protect our digital identities, sensitive data, and overall online experience. This comprehensive guide explores the multifaceted world of internet security, providing insights into its importance, common threats, and effective strategies to safeguard your digital world.
## Understanding Internet Security
Internet security encompasses the measures and protocols used to protect information, devices, and networks from unauthorized access, attacks, and damage. It involves a wide range of practices designed to safeguard data confidentiality, integrity, and availability. Effective internet security is crucial for individuals, businesses, and governments alike, as cyber threats continue to evolve in complexity and scale.
### Key Components of Internet Security
1. **Confidentiality**: Ensuring that information is accessible only to those authorized to access it.
2. **Integrity**: Protecting information from being altered or tampered with by unauthorized parties.
3. **Availability**: Ensuring that authorized users have reliable access to information and resources when needed.
## Common Internet Security Threats
Cyber threats are numerous and constantly evolving. Understanding these threats is the first step in protecting against them. Some of the most common internet security threats include:
### Malware
Malware, or malicious software, is designed to harm, exploit, or otherwise compromise a device, network, or service. Common types of malware include:
- **Viruses**: Programs that attach themselves to legitimate software and replicate, spreading to other programs and files.
- **Worms**: Standalone malware that replicates itself to spread to other computers.
- **Trojan Horses**: Malicious software disguised as legitimate software.
- **Ransomware**: Malware that encrypts a user's files and demands a ransom for the decryption key.
- **Spyware**: Software that secretly monitors and collects user information.
### Phishing
Phishing is a social engineering attack that aims to steal sensitive information such as usernames, passwords, and credit card details. Attackers often masquerade as trusted entities in email or other communication channels, tricking victims into providing their information.
### Man-in-the-Middle (MitM) Attacks
MitM attacks occur when an attacker intercepts and potentially alters communication between two parties without their knowledge. This can lead to the unauthorized acquisition of sensitive information.
### Denial-of-Service (DoS) and Distributed Denial-of-Service (DDoS) Attacks
Multi-cluster Kubernetes Networking- Patterns, Projects and GuidelinesSanjeev Rampal
Talk presented at Kubernetes Community Day, New York, May 2024.
Technical summary of Multi-Cluster Kubernetes Networking architectures with focus on 4 key topics.
1) Key patterns for Multi-cluster architectures
2) Architectural comparison of several OSS/ CNCF projects to address these patterns
3) Evolution trends for the APIs of these projects
4) Some design recommendations & guidelines for adopting/ deploying these solutions.
APNIC Foundation, presented by Ellisha Heppner at the PNG DNS Forum 2024APNIC
Ellisha Heppner, Grant Management Lead, presented an update on APNIC Foundation to the PNG DNS Forum held from 6 to 10 May, 2024 in Port Moresby, Papua New Guinea.
This 7-second Brain Wave Ritual Attracts Money To You.!nirahealhty
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Bridging the Digital Gap Brad Spiegel Macon, GA Initiative.pptxBrad Spiegel Macon GA
Brad Spiegel Macon GA’s journey exemplifies the profound impact that one individual can have on their community. Through his unwavering dedication to digital inclusion, he’s not only bridging the gap in Macon but also setting an example for others to follow.
1.Wireless Communication System_Wireless communication is a broad term that i...JeyaPerumal1
Wireless communication involves the transmission of information over a distance without the help of wires, cables or any other forms of electrical conductors.
Wireless communication is a broad term that incorporates all procedures and forms of connecting and communicating between two or more devices using a wireless signal through wireless communication technologies and devices.
Features of Wireless Communication
The evolution of wireless technology has brought many advancements with its effective features.
The transmitted distance can be anywhere between a few meters (for example, a television's remote control) and thousands of kilometers (for example, radio communication).
Wireless communication can be used for cellular telephony, wireless access to the internet, wireless home networking, and so on.
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The impact and role of information technology in Bank
1. THE IMPACT AND ROLE OF INFORMATION TECHNOLOGY IN
BANKING DEVELOPMENT IN NIGERIA
(A STUDY OF SELECTED COMMERCIAL BANKS IN ANAMBRA STATE)
BY
OSUOCHA JOY CHIKAMNAYO
NAU/2000414150
PROJECT REPORT SUBMITTED IN PARTIAL FULFILMENT OF THE
REQUIREMENTS FOR THE AWARD OF BACHELOR OF SCIENCE
DEGREE (B.Sc) IN BANKING AND FINANCE DEPARTMENT OF
BANKING AND FINANCE FACULTY OF MANAGEMENT SCIENCES NNAMDI
AZIKIWE UNIVERSITY, AWKA
JANUARY, 2005
2. APPROVAL PAGE
This is to certify that this work written by Osuocha Joy. C. is original and Ms satisfied the
standard in partial fulfillment for the award of Bachelor of Science Degree (B.Sc.) in
Banking and Finance in the Department of Banking and Finance, Faculty of
Management Sciences - Nnamdi Azikiwe University, Awka.
_________________________ __________________
Mr. Victor Ike Okonkwo Date
Project Supervisor
__________________________ __________________
Mr. Celestine Okaro Date
Head of Department
________________________ __________________
External Examiner Date
DEDICATION
3. This work is solely dedicated to the Almighty God who made it possible for me to start
and accomplish this work, and to my beloved parents, Chief and Lolo R.I. Osuocha for
their immense contributions towards the success of this project.
4. ACKNOWLEDGEMENT
My profound gratitude goes to the Almighty father who has given me the knowledge to
carry out this piece of work.
My special gratitude goes to my project supervisor, Mr. Victor Ike Okonkwo whose kind
direction and guidance made this project work a reality. May the good Lord reward him
abundantly.
My tremendous gratitude goes to my lovely parents Chief and Lolo R.I Osuocha for their
tireless efforts, good advice and financial contributions, which encouraged me
throughout my stay in school. I also appreciate in a special way the contributions of
other members of my family especially my eldest sister and her husband, Mr. and Mrs.
Maxwell Achi, Miss Caroline Osuocha and my elder brothers, Emeka , Chigozie, and
Okechukwu Osuocha for their financial and moral support towards the success of this
programme.
I equally recognize and appreciate the good works of my lecturers - Mr. Celestine
Okaro, Mr. U. Uloabachie, Mr. E.S. Ekezie, Dr. Steve Ibenta, Dr. Alex Mbachu, Mr. C.
Nwakoby, Mr. P. Adigwe, Lady Oge Adirika and many others.
I am equally grateful to my uncles and my aunties especially Mrs. Juliana Ogbolu for
their financial support.
Lastly, I thank and appreciate my good and lovely friends especially my roommates and
entire course mates for their lovely co - operations and encouragements.
ABSTRACT
This project report examined how information technology is changing the banking
arena. It shows how financial institutions and their clients' benefit from advances in the
arena. Advances in information technology has for instance led to increase space and
speed of banking transactions resulting in lower queuing by reducing customers waiting
time and improved service quality. It has also resulted in increased volume and quality
5. of transactions and improved staff efficiency. Advances in information technology
however have its own challenges. These problems are electricity power failure,
telecommunication failure, computer-aided fraud, lack of experts and personnel, high
cost of maintenance and training of staff. The challenges are especially in the areas of
regulations and fraud control.
The researcher instruments used were questionnaires, oral interview and personal
observations. Secondary sources of data were gathered from journals, dailies and
related textbooks and the sample size were derived from three commercial banks
located in Awka, Anambra State. The banks were:
1. United Bank for Africa Plc. (UBA)
2. Union Bank of Nigeria Plc.
3. First Bank of Nigeria Plc.
Questionnaires were administered to both the bank staff and customers in each bank.
The data generated were presented in tables, and analyzed using percentage response
and Likert - Scale of ranking.
CHI - Square (X2) were used to test the hypothesis formulated. It was found that the
use of technological equipments has enhanced the internal operation of banks in areas
such as Account updating, management of finance, Security of data, storing and
transfer of information. The external operations of services provided by the banks to
their many customers were also improved by the information technology for customers
enjoy safe, quick and easy fund transfer.
It was also found that information technology in banks has reduced the cost bank
services, customer-waiting time and increased efficiency of staff.
Technological innovations and staff training technology changes everyday, banks have
to create rooms for such changes, so that they update the services rendered to the
public by the purchases of new information system. There should be continuous training
and development programmes that must be vigorously implemented by banks to update
6. the skill of their staff. With the implementation of all these by banks, the positive impact
of information technology in the development of banking industries will be realized.
7. TABLE OF CONTENTS
Pages
Cover page ---------------------------------------------------------------------------i
Title page-------------------------------------------------------------------------------ii
Approval page-------------------------------------------------------------------------iii
Dedication------------------------------------------------------------------------------iv
Acknowledgement----------------------------------------------------------------------v
Abstract---------------------------------------------------------------------------------vii
List of tables-----------------------------------------------------------------------------xii
CHAPTER ONE: INTRODUCTION
1.1 Background of study------------------------------------------------------------------1
1.2 Statement------------------------------------------------------------------------------5
1.3 Objectives of the study---------------------------------------------------------------6
1.4 Significance of the study -------------------------------------------------------7
1.5 Statement of hypothesis -------------------------------------------------------8
1.6 Scope and limitation of study---------------------------------------------------------8
1.7 Definition of terms----------------------------------------------------------------------9
CHAPTER TWO: LITERATURE REVIEW
2.1 Overview of the banking scene --------------------------------------------------12
2.2 Concept of computer----------------------------------------------------------------------14
2.3 Types of computer system----------------------------------------------------------------18
8. 2.4 Characteristics and qualities of a computer -------------------------------------------18
2.5 General comments on computer installation-------------------------------------------20
2.6 Commercial application-------------------------------------------------------------------20
2.7 Role of computer in bank management-------------------------------------------------23
2.8 Some technological driven product in banking----------------------------------------27
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Sources of data------------------------------------------------------------------------------43
3.2 Sampling size and technique---------------------------------------------------------------44
3.3 Method of data collection------------------------------------------------------------------44
3.4 Validation of research instrument---------------------------------------------------------45
3.5 Method of data presentation---------------------------------------------------------------45
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Bio- Data----------------------------------------------------------------------------------------48
4.2 The impact of information technology on banking industry in Nigeria---------------49
4.3 Recent trends in information technology------------------------------------------------51
4.4 Prospects of information technology in Nigeria banking industries-------------------54
4.5 Ways of improving the relevance of information technology in Nigeria banking
industry-------------------------------------------------------------------------------------------55
4.6 Test of Hypothesis--------------------------------------------------------------------------58
4.7 Discussion of findings-----------------------------------------------------------------------60
CHAPTER FIVE: SUMMARY OF FINDINGS, RECOMMENDATIONS AND
CONCLUSIONS
9. 5.1 Findings----------------------------------------------------------------------------------------68
5.2 Recommendations----------------------------------------------------------------------------70
5.3 Conclusions-----------------------------------------------------------------------------------72
Bibliography---------------------------------------------------------------------------------------73
Appendix: Questionnaire for both bank staff and bank customers------------------------76
LIST OF TABLES
Table No: Table Title Pages
4.1: Responses on the extent information technology has
increased the number of depositors in banks
4.2 Response on the extent information technology has
made office work of bank staff less burdensome
4.3 Response on the extent information technology has
led to more efficient storage in banks
4.4 Response on the extent some areas in banking
needs to be developed
4.5 Response on the extent information technology has led to the
introduction of electronic fund transfer
4.6 Responses on the study of bank computerization
4.7 Responses on the extent information technology has reduced
time, wastage in banks.
4.8 Responses on the extent information technology has contributed
10. to better planning and management of funds in banking business
4.9 Response on the extent information technology has reduced the banks
operational cost.
4.10 Contingency table on testing whether the use of information
technology has led to time reduction in banks.
4.11 Contingency table of distribution on testing whether information
technology has increased the number of depositors in banks.
4.12 Contingency table on testing whether information technology has
reduced the bank's operational cost including daily works.
4.13 Contingency table of distribution on testing whether the use of information
technology has contributed to better information storage in banks
11. CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The industry in Nigeria was developed between 1894 - 1933 with the multinationals
commanding nearly all the equity base of the banks and close to 90% aggregate bank
deposits with the coining on stream of the indigenization enterprises promotion Decree
of 1972, Nigerians were allowed to command and control up to 60% equity in the
expatriate banks.
With the sanitization policy of the banking ordinance of 1951 which lasted to most of the
indigenous banks failed e.g. Industries and Commercial banks in 1929, Nigerian
Farmers and commercial banks in 1947 -1953, Nigeria Penny bank in 1946, thus,
mushroom banks were flushed out of the system The surviving ones were those that
had the regulatory provisions of the ordinance They are totally regarded as "old
generation banks". The industry didn’t not experience any major changes in terms of
banking innovations and services delivery between 1952 to 1991 before the IMF
(International monetary Fund) compelled the Nigerian government to privatize and
deregulate banking services. This led to the springing up of different privately Pined
banks in Nigeria with full control and equity contribution by Nigerians. These banks are
expressly regarded as "The New generation Banks.
Banking today is conducted in an6 age of economic crisis, distress, fraud, hood and
misrepresentation that is the opposite of what was obtainable in early centuries when
banking was manually operated with no complexity and sophistication. During this
period of development of banking, the customers the banks served were mostly
merchants who can be served immediately without any hitch; more so, transactions
were done with truth and transparent honesty. As centuries passed by, the complexity
and sophistication in the Liking sector increased the more, hence the signal on the need
for the production of technological activities into the banking services. A clearer
manifestation of this need was seen in the 2Ist century often known as the "Age
Computer Technology". For this ("act, information is the core upon which all Ilk activities
12. of any business enterprises revolve. It is therefore very true that effective and useful
information system should be available to any organization fee effective decision-
making. We are now living in the age of information technology were it is very important
and abundantly clear that it is required of managers, accountants or bankers to be vast
in the use of computers and process information system, otherwise he / she becomes
obsolete and the tool for fraud unknown to him or her. Banking industry is the most
beneficiary of the contribution of technology in the economic environment in that it is a
service-oriented institution where access information is the primary ingredient for its
operations. Organizations e banks are economic units established for attaining specific
objectives, Because batiks are constantly facing competitions in the financial market,
they have to be structured in such a way that they would be constantly informed on line
relevant changes in these markets, its effects on resources and objectives particularly,
the resultant reactions to these changes.
To properly analyze every bit of information, the organization needs to employ system
that constantly be used to process, update, store, retrace and retrieve puts stored into it.
For this to be achieved, it requires the use of computers. The computer can magnify any
information, which the workers abilities cannot nil since it can receive process and give
back information. Therefore, a person's skill in using computer will enhance his or her
working ability, which imply means that a bank manager who uses computer can attend
to hundreds / thousands of customers in a lesser time than a manager without
machines. More so, subordinates who are skilled in process information and computer
techniques cannot misguide such mangers.
The new information order will create a knowledge based society were the induction
and distribution of information goods and services will dominate line world economy.
Information technology is the fourth logical revolution known to man after the agrarians,
the industrial and technological (mass production) revolutions. Today, the information
economy has taken over from fie industrial economy with information goods and
services. However deep d powerful information, national differences still exist in the
areas of national information infrastructure, enterprises culture work among nations.
13. This information goods and services have provided more than 60% of the IPDSS
National Product (GNP) in developed countries.
Statistics evidence and growth rate in the economy shows that the global innovations
have enabled the economies in developed areas to achieve a high level of efficiency
and productivity. However, the anti-globalization protesters from all over the world at the
world trade organization in Seattle, USA in 1999 fear that the liberalization competition
would increase economic insecurity.
A core component of information technology development change is the semi-
conductor chip, which since the early 1980s began to decrease in size and cost, and
increased steadily in capacity and complexity. Information complexity conveys the
notion of the application of microprocessor based (digital) technologies for information
handling for effective and speedy decision- making.
The information age is reviewed as (lie age of electronically wired or enabled piety (e-
society) within the context of the aspiration for living and managing life activities in a
paperless environment. The competitive foundation of the information age is the
National Information Infrastructure ( NII). NII is the rapine room while the heart of this
engine is the software.
However, the impact of technology in the modern banking in the 21st century cannot be
over - emphasized. Technology has made notable contributions in banking industries
and has become historical in recent times and a potent factor in the development of (he
entire economic environment. The aspects that are post outstanding in these areas or
landmarks are in:
1. Cash Management
2. Transfer of money through Electronic Fund Transfer ( EFT)
3. Fraud Management
4. Automated Clearing House System (ACHS)
5. Telephone Banking System
14. 6. Automated Teller Machine (ATM)
1.2 STATEMENT OF THE PROBLEMS
The constraints of the Nigerian banking system are well known. Economic is still fragile
while supporting infrastructure is grossly inadequate. These constraints have been
largely responsible for the existing weak technological base. Consequently, technology
remains an imported ‘’commodity" which continues to depend on the availability of
foreign exchange for its consumption. The purchasing power of the Naira has also
limited the ability to import and therefore restricted access to modern technology.
Beside the incessant failures of power supply and irregular functioning of
telecommunication facilities have not provided the level of support required for
Sustained computerization and computer networking, there has also been low
information technology skill and lack of technological base needed for bring the growth
of indigenous banking technology.
Since computer is capable of performing in minutes and more efficiently tasks that takes
several man-hours, hence the first crucial problems of workers is that most
computerized systems are introduced to cut labor costs which causes redundant and
retrenchment of workers. By introducing extra coding into cheques and other
documents, they could start to offer some of integrated banking and accounting services
thereby throwing out the accountant from ilk se duties he should do.
1.3 OBJECTIVES OF THE STUDY
The purpose of this study were:
1. To identify the impact that computer has actually exerted on the banking industries
2. To discover the areas in banking services that still needs to be developed with this
recent trend of information technology.,
15. 3. To discover and study the constraints of information technology in computerization of
study banks.
4. To evaluate the prospects of information technology in the Nigerian banking business
5. To make recommendations based on the findings in improving the relevance of
information technology in Nigerian banking industry for economic development of the
nation.
1.4 SIGNIFICANCE OF THE STUDY:
This research work will be beneficial to various interests groups on its successful
completion. Such groups are the banking industry as an integral part of a sample of
financial system; Students and other researchers in the field, which may serve as a
reference as a copy of the work will be kept in the school library for public consumption.
This study will also be of immense importance to the government, customers and even
business enterprises.
This study will be beneficial in banks as it influences the way bank services are
delivered and distributed all with the aim of making banking more convenient for the
customers. For instance, many banks in Nigeria now lave most of their branches linked
online and real-time. The implication of this is that it is now possible for people to
conveniently carry out banking operations from any of their bank, which is linked online.
This clearly reduces the needs and dangers of carrying cash and help provide variety of
services to the numerous banking public. Banks by so doing will be performing the vital
functions of resource allocation in the economy (i.e. providing a medium of mobilizing
saving and channeling saving to investment outlets).
Finally, students are going to find this study useful in their academics. This is because
this study has extensively discussed the rationale for the introduction of information
technology in banking, the various uses they are put into, and the prospects of banks
making use of this technology in their operations.
1 5: STATEMENT OF HYPOTHESIS
16. Ho: Computerization of banks has not reduced time wastage in the banks. Hi: The
computerization of banks has reduced time wastage in the banks. Ho: Information
technology in banking system has not increased the number of depositors in banks.
Hi: Information technology in banking system has increased the number of depositors in
banks.
Ho: Computerization has not reduced the bank operational cost including ally workloads
Hi: Computerization has reduces the bank operational cost including pbily workloads.
Ho: Information Technology has not contributed to better information rage in banks.
Hi: Information Technology has contributed to better information storage in banking
system.
1.6 SCOPE OF THE STUDY:
This work aims at finding out various usage and impact of computer technology or
information technology in banking services. A survey study was earned out using
samples from selected commercial banks in Anambra State.
1.7 LIMITATIONS OF THE STUDY:
In carrying out this study, the researcher was laced with some constraints.
Though it was difficult at the initial stage to gather materials relevant for this research
work and to comprehend the details and requirements of the topic, the researcher was
still able to make due of what she had and a tangible write up or tangible write up was
made.
More so, with the very high cost of living, due to the present economic hazards coupled
with the high rate of transportation, engaging in serious exercise of this nature definitely
posed a lot of financial problems considering that the fact that the researcher is a
17. student, her lean pocket was further stretched in order to get the job well done. Despite
the constraints inherent to this work, the researcher was able to gather substantial
materials to the best of nr ability and knowledge, which made the work unhindered.
1.7 DEFINITION OF TERMS
ACHC-- Automated Clearing House System: This is a system used by banks for
clearing or exchanging cheques drawn on each other.
ATM - Automated Teller Machine: This is a self- service transaction concept that
provides ready access to cash 24 hours in day.
COMPUTER - It is an electronic device for storing and processing of data, making
calculations or controlling machinery
COMPUTERIZATION-This is the process or procedure of processing information using
computers.
E-Banking (Electronic Banking) - This means banking that exists solely on the
internet and has no physical presence for consumers / customers to interact with the
institution.
Economic Fund Transfer (EFT) - It is another product of the internet that has allowed
money to be sent by one party in a destination to another party located differently
through money transfer agent.
Hardware - A physical device that makes up the computer such a s printer, monitor,
diskette, mouse, etc
Information - This can be simply be defined as a knowledge acquired through
experience or study.
Experience or study on the other hand is procedures for data gathering.
Information Technology - This is regarded as a systemized body of tool, techniques
and infrastructure for generating, collecting, storing, processing and transmitting of data.
18. Point- Sale -System (P.O.S) - This is an online system that allows customers to
transfer funds instantaneously from their bank accounts when making purchases.
Software - this includes everything in the computer that is not hardware e.g language,
written programmes, documentation, manuals etc.
Technology - This is the knowledge or use of mechanical art and applied science.
Telephone Banking/Video Tex - This is a generic term used to describe home
information retrieval systems.
To get full detail of this project
Contact: 234-80-3224-7897
Email: jblorzy@gmail.com