EFFECT OF SOCIO ECONOMIC CHARACTERISTICS IN THE USE OF INTERNET BANKING AMONG MONEY DEPOSIT BANKS IN ABIA STATE, NIGERIA.

ABSTRACT

This study examines the effect of socio economics characteristics in the use of internet banking in Abia state Nigeria. The objective of this study is to describe the socio economics characteristics in the use of internet banking among money deposit banks in Abia state Nigeria. The design reach is fieldwork through questionnaire: Data were obtained from 150 respondents of the customers of money deposit banks. The research used multiple regression analysis, the result diagnosed that some of the socio economics characteristics variables has no significant relationship with the use of internet banking while some other variables have significant relationship. It was recommended that money deposit banks should study the different variables to enable tem segment their market effectively, so there for there is a need for a study such as these.

TABLE OF CONTENTS

Title page      

Declaration                                                                                                

Certification                                                                                                 

Dedication                                                                                                    

Acknowledgement                                                                                            

Table of content                                                                                             

List of table                                                                                                         

Abstract

CHAPTER ONE

INTRODUCTION

1.1   Background Of The Study

1.2   Statement Of Problem

1.3   Objective Of The Study

1.4   Research Question

1.5   Research Hypothesis

1.6    Significant Of Study

1.7   Scope Of The Study

1.8   Limitation

CHAPTER TWO

LITERATURE REVIW

2.1   Conceptual Frame Work                                                                                                                    

2.2   Definition Of Internet Banking                                                                                                              

2.2   Adoption Of Internet Banking                                                                                        

2.3   Socio Economic Characteristics

2.3.1 Socio Economics Characteristics Tools.

2.4   Internet Banking Tools

CHAPTER THREE

RESEACH METHODOLOGY

3.1    Research Area

3.1    Area Of Study

3.3   Sampling Size And Sampling Techniques

3.5   Method Of Data Analysis

3.6    Model Specification

CHAPTER FOUR

DATA PRESENTON AND ANALYSIS

4.1    Questionnaire Administration

4.2   Sample Administration

4.3   Data Presentation

4.4   Distribution Of Respondents By Age, Religion, Educations And Size

4.5   Data Presentation

4.6   Distribution Of Response By Age, Religion, Educational Level, Household Size Income Level And Marital Status

4.4   Analysis Of Research Question

4.8    Test Hypothesis 1 To 11

CHAPTER FIVE

SUMMARY CONCLUSION AND RECOMMENDATIONS

5.1   Summary

5.2   Conclusions

5.3   Recommendation

5.4   Suggestions For Further Study

References

CHAPTER ONE

INTRODUCTION

1.1      Background of the study

Banking has always been a highly information intensive activity that acquires, process and delivers the appropriate information to all stakeholders (Gio-Vanis, 2012). In this recent time money deposit Banks have been investing substantial resources in implementing new technology-based service, in order to compete, archive and maintain strategic advantage, ameliorate their profit, and provide better banking service (Kotler, 2008). Internet banking is an essential internet delivering service to facilitate benefit for banks and its customers, (Dammar and hummicut, 2010).

It is as result of this that internet banking was introduced, which is defined as an internet portal, through which customer can use different kinds of banking service ranging from bill payment to making investment [pikkarain, 2004].  Internet banking enables customers to carry out verities of transaction such as transfer funds, pay a diversity of utility bills and can also invest, (Hong et al, 2013). The use of internet banking is beneficial to both customers and banks.

Hernandez and Rios (2014), socio economic characteristics play a very important responsibility in understanding the behavior of customers. The success of any money deposit bank in this recent time is a function of availability of internet banking but how ever as every other industry there are some factors influencing the adoption an effective use of internet banking. Damar and Hummicut, (2010) report’s that demographic profile is regularly used as a foundation to understanding customer characteristics.

 Advertising of internet banking offers banking firms a new frontier of internet banking and the necessary means to create solution on how plans to attract customer to their internet banking service, as a better understanding of this will enable them to gain a greater share in the banking service.

A finished study Mattida and Mattila, (2005) made known that internet banking adoption comprises of a well-off highly educated and those in elevated profession.

However, socio economic characteristics is basically an economic an sociological combined total measure of a person’s work experience an individual’s or family’s economic and social position in relation to others, based 0n income, education and occupation, but in regards to this study, social economic characteristics will be viewed on those basic factor that influence the use of internet banking among money depositing banks

Christopher, Visit and Amy (2006) The term internet banking has been defined as banking services over the public network (the internet), money deposit bank operates in a highly globalized competitive environment, the race against each other in attracting new customer an satisfying their existing customers need, through the introduction of internet banking.

Thus, Cricietti et al (2008), evaluate the performance of banks that employs internet banking service and those that does not , and found out that those hat offer internet banking service influence performance of the banks, measured by return on the average assets. Sakkttiv et al, (2016) banks has to know the socio economic characteristics and the roles of socio economic characteristic variables such as age, gender, educational level, income, house hold size, occupation etc. on the adoption of internet banking  (hermadez and riosman,2010). Banks offer internet banking service based on the characteristics of the mark place such as demographic characteristics of potential customer as well as were the town is located weather it’s a metropolitan area.(Hong et al 2013) interment banking can carry out a specific task at a little specific time.

This work aims at exploring the socio economic factors  that influences  the adoption an use of internet banking   among money deposit bank customer some of those variables  includes age, income level, education, marital status etc. these factors determine customers wiliness to use internet banking . Most economics activities in Nigeria are cash based and the use of internet banking improve financial transaction in Nigeria and it serves as a pointer to digital economy. Internet banking is fundamentally changing the banking industry opportunity and challenges. The money deposit bank should have an understanding of how socio economic characteristics factor and consumer perceptive influences the use of internet banking.

1.2 Statement of the problem

Money deposit banks own their customer the core duties of developing and implementing favourable services that will enable the customers carry out their banking activity effectively. One of these services includes internet banking, which however is been influenced by  social economic characteristics, among which factors are, income level education, culture, age, sex, etc.. These variables affect the adopt an use of internet banking , an there  by hindering the effective performance of the industry, as people have different view as to how and why they should adopt internet banking services. Social economic characteristic limits the use of internet banking in money deposit bank.

1.3      Objective of the study

The study will broadly seek to investigate the effect of socio-economic characteristic on the use of internet banking. Specifically the study will seek to>

Describe the socio economic characteristics of the respondents.

Determine the effect of socio economic characteristics on the use of internet banking

1.4      Research question

The following research question was answered by this study, in other to accomplish the above objective.

1. What ere the socio economic characteristics of the respondents­­­?

2. Dose socio economics have effect on the adoption and use of internet banking?

1.5      Research Hypotheses

Ho₁There is no significant relationship between gender and use of internet banking.

Ho₂ There is no significant relationship between ages and use of internet banking.

Significant relationship does not exist between educations and internet banking.

Ho₃ There is no significant relationship between religion and internet banking?

Ho₄ There is no significant relationship between education and internet banking.

Ho₅ There is no significant relationship between house hold size and the use of internet banking.

Ho₆ There is no significant relationship between income and uses of internet banking.

Ho₇ There is no significant relationship between the marital status and the use of internet banking.

Ho₈ there is no significant relationship between access to phone facility and the use of internet banking.

Ho₉ Employment statues dose not significantly influence the use of internet banking.

1.6      Significant of the study

This research study will be of immense benefit to both customer and money deposit banks as well, as it will enables the managers to Have a better understanding of the listed factor that can possibly affect the adoption on internet banking, which will enable them make decision an policy for effective management in other to achieve organizational goals.

They study will gain banks better understanding of the various customers behaviors  towards use of internet banking The successful improvement of performance in the money depositing bank will depend on the effective management of different  variables of social economic characteristics of the customer.

1.7      Scope of the study

this research will be to ascertain the  impact socio economic characteristics will have  on use of internet banking of money deposit banks in Abia state  Nigeria in the next 10 years this way to justify the establishment of money deposit banks. And improve the adoption rate of internet banking service.

1.8      Limitations

In the course of this research study, some constraints were encountered. this include time constraints which is due to other activities the staff of the money deposit banks engage in. another constraints was none compliance by some of the workers of the money deposit banks. There is poor attitude of, many people of the respondent towards such exercises, as generally known, people show reluctant when they are required to give out personal information.

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