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Product Category: Projects

Product Code: 00001403

No of Pages: 62

No of Chapters: 5

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Electronic banking system has become an important practice among commercial banks in Nigeria. The introduction of this electronic banking has improve banking efficiency in rendering services to customer, It was in line with this that the study aimed examining the impact of electronic banking system in Nigeria. the population of the study used for this research work was 50 Through the random sampling technique, data were was collected by means of questionnaires from 40 Unity Bank officers selected as sample size, the data collected was analyzed using simple percentage, frequency table and Chi- square. The result shows that Unity Bank electronic banking guidelines are in line with the CBN electronic banking guideline. The bank has an effective electronic banking system which has Improve its customer's relationship and satisfaction. To this end, It is recommended that the bank information technology training programme should be encourage among the staff of Unity Bank, necessary legal codes banking should be established in order to enhanced growth of the industry.




Title Page





Table of Contents


1.1    Background to the Study

1.2    Statement of the Problems

1 .3    Research Questions

1.4    Objectives of the Study

1.5    Research Hypotheses

1.6    Significance of the Study

1.7    Research methodology

1.8    Area of the Study

1.9    Scope of the study

1.10 Analysis of Data

1.11 Limitation of the Study

1.12 Outline of chapters



2.1    Introduction

2.2    Views on Electronic Banking

2.3    Electronic Banking and the common Banking Products

2.3.1 Telephone and pc banking products

2.3.2  The card system

2.3.3  The automated teller machine (ATM)

2.4.   The entry of Nigerian banks into electronic Banking

2.5.1 Threats of cyber-crimes on the Nigerian Banking premises

2.5.2 The regulatory challenges

2.5.3 Electronic banking profitability and efficiency

2.5.4 Bank Customer Relationship

2.6    Operation of Financial Institution

2.7   Theoretical framework


3.1    Introduction

3.2    Population of Study

3.3    Sampling Techniques

3.4    Sample Size

3.5    Sources of Data

3.6    Method of Data Analysis

3.6.1 Test of Hypotheses and Interpretation

3.6.2 Decision rule and Justification



4.1.    Introduction

4.2.   Presentation and Analysis of Data

4.3     Test of Hypothesis


5.1    Summary

5.2    Conclusion

5.3    Recommendation


Appendix: Questionnaire






The new millennium brought with it new possibilities in terms of information access and availability simultaneously, introducing new challenges in protecting sensitive information from some eyes while making it available to others. Today's business environment is extremely dynamic and experience rapid changes as a result of technological improvement, increased awareness and demands Banks to serve their customers electronically. Banks have traditionally been in the forefront of harnessing technology to improve their products and services.


The Banking industry of the 21st century operates in a complex and competitive environment characterized by these changing conditions and highly unpredictable economic climate. Information and Communication Technology (ICT) is at the centre of this global change curve of Electronic Banking System in Nigeria today. (Stevens 2002).


Assert that they have over the time, been using electronic and telecommunication networks for delivering a wide range of value added products and services, managers in Banking industry in Nigeria cannot ignore Information Systems because they play a critical impact in current Banking system, they point out that the entire cash flow of most fortune Banks are linked to Information System. The application of information

and communication technology concepts, techniques, policies and implementation strategies to banking services has become a subject of fundamental importance and concerns to all Banks and indeed a prerequisite for local and global competitiveness Banking.


The advancement in Technology has played an important role in improving service delivery standards in the Banking industry. In its simplest form, Automated Teller Machines (ATMs) and deposit machines now allow consumers carry out banking transactions beyond banking hours. With online banking, individuals can check their account balances and make payments without having to go to the bank hall. This is gradually creating a cashless society where consumers no longer have to pay for all their purchases with hard cash. For example: bank customers can pay for airline tickets and subscribe 1 to initial public offerings by transferring the money directly from their accounts, or pay for various gods and services by electronic transfers of credit to the sellers account. As most people now own mobile phones, banks have also introduced mobile banking to cater for customers who are always on the move. Mobile banking allows individuals to check their account balances and make fund transfers using their mobile phones. This was popularized by First Atlantic Bank (now First Inland Bank) through its "Flash me cash" product Customers can also recharge their mobile phones via SMS. E-Banking has made banking transactions easier around the World and it is fast gaining acceptance in Nigeria. The delivery channels today m Nigeria electronic Banking are quite numerous has it 1S mentioned here Automatic Teller Machine (ATM), Point of Sales (POS), Telephone Banking, Smart Cards, Internet Banking etc Personal computers in the Banking industry was first introduced into Nigeria by Society General Bank as the popular PC easy access to the internet and World Wide Web (www) and internet is increasingly used by Bank's as a channel of delivering the products and services to the numerous customers.


Virtually almost all Banks in Nigeria have a web presence; this form of Banking is referred to as Internet Banking which is generally part of Electronic Banking. The delivery of products by banks on public domain is an indication of advertisement which is known has E-Commerce. Electronic commerce on the other hand is a general term for any type of business or commercial transaction it involves the transfer of information across the internet. E-Commerce involves individuals and business organization exchanging business information and instructions over electronic media using computers, telephones and other communication equipment. This covers a range of different types of business from consumers to retails products. However, Electronic banking as it is; is a product of E-Commerce in the field of banking and financial services. It's offers different online services like balance enquiry, request for cheque books, recording stop payment instructions, balance transfer instructions, account opening and other form of traditional banking services. The Internet allows businesses to use information more effectively, by allowing customers, suppliers, employees, and partners to get access to the business information they need, when they need it. These Internet enabled services all translate to reduced cost: there are less overhead, greater economies of scale, and increased efficiency. E-Banking' greatest promise is timelier, more valuable information accessible to more people, at reduced cost of information access. With the changes in business operations as a result of the Internet era, security concerns move from computer labs to the front page of newspapers. The promise of E-Banking is offset by the security challenges associated with the disintermediation of data access. One security challenge results from "cutting out the middleman," that too often cuts out the information security the middleman provides. Another is the expansion of the user community from a small group of known, vetted users accessing data from the intranet, to thousands of users accessing data from the Internet. Application service providers (ASP) and exchanges offer especially stringent and sometimes contradictory requirements of per user and per customer security, while allowing secure data sharing among communities of interest. E-banking depends on providing customers, partners, 'and employees with access to information, in a way that is controlled and secure. Technology must provide security to meet the challenges encountered by E- Banking. Virtually all software and hardware vendors claim to build secure products, but what assurance does an E-Banking have of a product's security? E-Banking want a clear answer to the conflicting security claims they hear from vendors. How can you be confident about the security built into a product? Independent security evaluations against internationally established security criteria provide assurance of vendors' security claims.


Customer expectation, in terms of service delivery and other key factors have increased dramatically in recent years, as a result of the promise and delivery of the internet. Even after the "dot -com crash" these raised expectations linger. The growth in the application and acceptance of internet-driven technologies means that delivering an enhanced service is more achievable than ever before, however it is also more complex and fraught with potential costs and risk. The internet introduces customers to a new perception of business time as always "on available 24/7, and demanding an urgent and rapid response. The challenge for managers is to reconcile their business and their own personal perceptions of time with the perceived reality of internet time. The internet has decisively shifted the balance of power to the customer.


The internet is revolutionizing sales techniques and perceptions of leading brands, and the internet is intensifying competition in all its forms. Banking are continuing to use the internet to add value for their customers; but in order for this to work effectively - maximizing opportunities, reducing risks and overcoming problems and E-Banking strategy is required as an impact. The growth of the Web and Internet as new channels, the growth in their use by customers, the growth in their use by customers, and the floor of companies entering the market, presents a series of key challenges to companies. It is easy and cheap to put up a website.


But to create an environment delivering effective service on the Web to a significant proportion of your customer base requires an ij-Banking strategy. Electronic Banking offers different online services like balance enquiry, request for cheque books, recording stop payment instructions, balance transfer instructions, account opening and other form of transitional Banking service.




In Nigeria, customers of banks today are no longer about safety of their funds and increase returns on their investments only. Customers demand efficient, fast and convenient services.


Customers want a Bank that will offer them services that will meet their particular needs (personalized Banking) and support their Business goals for instance; businessmen want to travel without carryout cash for security reasons. They want to be able to check their balance online, find out if a cheque is cleared, transfer funds among accounts and even want to download transaction records into their own computer at work or home. Customers want a preferential treatment and full attention by their choice Bank. All these are only achievable through electronic Banking.  In line with rendering qualities and acceptable services that most Banks in Nigeria are gearing toward and investing large sum of money in information and communication.


Technology, expectedly such Banks services have been improved. United Bank for Africa (UBA), Zenith Bank, GT Bank (to mention few) are in the forefront in the use of IT in rendering services to their Customers (The Guardian Newspaper April 18, 2008p 21). It also seeks the challenges involved in Electronic Banking and Best industrial practice and the approach of implementing them in Nigeria Banking system.



i.       Does electronic banking have prospect in banking industry?

ii.      To what extent doses electronic banking enhance efficiency of bank operation?

iii.      Does electronic banking improve bank customers' relationship?

iv.     What are the challenges of electronic banking in Nigeria?



The main objective of this research work is to examine impact of electronic Banking in Nigeria banking system on how difference channels could enhance the delivery of consumers and retails products, and also how Banks choose to support their Electronic Banking component/ services internally, such as internet services provider, Internet banking software, Core banking vendor, Managed security service provider, Bill payment provider, Credit Business and Credit scoring company, E-Banking systems rely on a number of common components or process Specifically the study objectives are;


i.       To evaluate the prospects of electronic Banking m banking industry

ii.      To examine whether electronic banking has improve the efficiency and effective of the Bank operation.

iii.      To examine the effect of electronic banking has it improve the efficiency and effective of the Bank operation.



The following hypotheses are formulated in null form to guild the study.


Ho:   Electronic banking does not have prospect in banking industry

Hi: Electronic banking does have prospect in banking industry


Ho:    Electronic banking does not enhance the fortune efficiency of Banks Operation.

Hi:     Adoption of Electronic banking does enhance the fortune of Bank operation


Ho:   Electronic banking does not Improve Bank Customer relationship

Hi:    Electronic banking does improve Bank Customer relationship



The study would enable the banks executives and indeed the policy makers of the banks and financial institutions to be aware of electronic banking as a product of electronic commerce with a view to making strategic decisions. The research is equally significant because it would provide answers to factors militating against the implementation of electronic banking in Unity Bank Plc; prove the success and growth associated with implementation of electronic banking highlight the areas of banking operations that can be enhanced via electronic banking and: also be an invaluable tool for Students, Academician, institutions, Corporate managers and individuals that want to know more about electronic banking trends especially in Nigeria.



The researcher used various techniques or methods of data collection are used here to drive home, out point. The first method employed in the course of collection of data research work was the use of questionnaire / research question. Questionnaire to a list of planned written questions structured with space provided for indicating answers or responses for each question which is intended for a number of people to rely. It is classified into open ended questionnaire and closed ended questionnaire



The ire searchers focus the Ikeja Local government Area to assess the impact of electronic banking in banking sector using Unity bank Plc in Ikeja as a case study.



In pursuance of the objective of the study; attention shall be focused on electronic banking among other electronic commerce implementation. In order to conduct an empirical investigation into the adoption of Electronic banking in Nigeria and will also examine the nature of electronic banking operations in Unity Bank Plc.



The study used both descriptive and inferential statistics in analyzing the data. Also, simple frequency counts, percentages and the chi-square were used in the data analysis.



In view of the technicalities involved, it would be unrealistic to assume that all necessary facts have been gathered in the process of the study. Information gathered is limited to those accesses and made available by the respondents and also those gathered from end users. However, the impacts of this limitation will be reduced to the barest minimum.



This study is divided into five parts. Part one deal with introduction of the study, research problem, research question, significance of the study, statement of hypothesis, research methodology , area of study scope of study source of data, method of data analysis , and outlines of chapters Part two reviews the relevant literature, part three discusses the methodology employed In this study, and part four is data presentation and analysis while part five focus on summary, recommendation and conclusion.

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