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Product Category: Projects

Product Code: 00000539

No of Pages: 63

No of Chapters: 5

File Format: Microsoft Word

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This research project examined the impact of Electronic banking on the performance of banking in Nigeria with special reference to Eco Bank Plc. The research discussed existing literatures on electronic banking and the history of electronic banking in Nigeria. It also identified the various electronic banking systems and further evaluate the threats associated with electronic banking in Nigeria

Three hypotheses were formulated and tested for the purpose of this research. A well structured questionnaire was designed and administered to staff of Eco bank Plc as a means of gathering data. A sample of forty (40) was drawn from the population. Simple random sampling technique was adoptedfor selection of the respondents.

The data gathered was presented on table using percentage. The formulated hypotheses were analysed with the use of Chi-Square. The analyses of the research resulted into rejecting the three null hypotheses and accepting all alternate hypotheses. Decision drawn by the analyses were that; Electronic banking has significant impact on the performance of Eco bank Plc. Also the adoption of Electronic banking enhance the fortune of Eco Bank Plc, and finally, that there is significant relationship between operational efficiency of bank and electronic banking.








1.1            Background of the Study

1.2            Statement of the Study

1.3            Objective of the Study     

1.4            Statement of Research Questions

1.5            Research Hypothesis

1.6            Research Methodology                           

1.7            Scope and Limitations of the Study                 

1.7      Significance of the Study            

1.8      Brief Literature Review                                        

1.9      Definition of Terms                                   





2.1      Introduction                       

2.2      The View on Electronic Banking            

2.3      Electronic Banking and the Common Banking Product

2.3.1  Telephone and PC Banking Products

2.3.2  The Card System   

2.3.3  The Automated Teller Machine (ATM)

2.3.4  Cheque

2.4      The Entry of Nigerian Banks into Electronic Banking

2.5.1  Threats of Cyber-Creams 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                  





3.1      Introduction                                                           

3.2      Research Methodology                                                   

3.3      Sample Size                                                                         

3.4      Sampling Techniques                   

3.5      Restatement of Hypothesis                    

3.6      Method of Data Collection                                 

3.7      Method of Data Analysis             




4.1      Introduction                       

4.2      Presentation and Analysis of Data

4.2.1  Qualification of Respondent      

4.2.2  Working Experience         

4.2.3  Cadre of Respondents                 

4.2.4  Professional Qualification           

4.2.5  Department of Respondents     

4.2.6  Threat to Electronic Bank           

4.2.7  Threat Assessment                                                

4.2.8  Respondent Assessment of Eco Bank’s Electronic

Banking  System                                        

4.2.9  Information Technology Training Program   

4.2.10 Level of Electronic Banking                   

4.2.11 Improvement of Customer Satisfaction        

4.3      Test of Hypotheses                                   

4.3.1  Hypothesis One                             

4.3.2  Hypothesis Two                 

4.3.3  Hypothesis Three                          




5.1      Summary                 

5.2      Conclusion                          

5.3      Recommendations            











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 unpredictableeconomic 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 paymentswithout having to go to the bank hall. This is gradually creating a cashless society whereconsumers no longer have to pay for all their purchases with hard cash.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.

The delivery channels today in Nigeria electronic Banking is quite numerous as it ismentioned here Automatic Teller Machine (ATM), Point of Sales (POS), TelephoneBanking, Smart Cards, Internet Banking etc. Personal computers in the Banking industrywas first introduced into Nigeria by Society Generale Bank as the popular PC easyaccess to the internet and World Wide Web (www) and internet is increasingly used byBank’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 isreferred to as Internet Banking which is generally part of Electronic Banking.Thedelivery of products by banks on public domain is an indication of advertisement whichis known as e-Commerce. Electronic commerce on the other hand is a general termfor any type of business or commercial transaction which involves the transfer of informationacross the internet. E-Commerce involves individuals and business organizationsexchanging business information and instructions over electronic media usingcomputers, telephones and other communication equipments.

E-Banking has made banking transactions easier around the World and it is fast

gaining acceptance in Nigeria.


In Nigeria, customers of banks today are not only concerned about safety of their funds and increased returns on their investments, but also 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 but not delivered by most banks in Nigeria.

Banks in Nigeria are faced with problems of managing transactions electronically. The use of ATM has made some customers withdraw from banking their cash due to deduction of their money without successful transaction and yet the funds not reversed. Most bank in Nigeria do not operate on the internet, their ATM cards cannot be used for transaction on the internet which is the very beauty of Electronic Commerce. Most of them are scare of internet scam because they don’t have proper internet security in place and the unreliability of the internet service in the country.

Due to these problems banks could not provide quality services that satisfies customers.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. It also seeks the challenges involved in Electronic Banking and Best industrial practice and the approach of implementing them in Nigeria Banking system.


In order to achieve the purpose of this research study, the study will attempt to provide answers to the following research questions.

·        Does electronic banking has impact on the performance of Eco bank Plc.

·        Does the adoption of Electronic banking enhance the fortune of Eco Bank Plc

·        Has electronic banking  improved Customer relationship in Eco bank Plc.

·        Doesthe Bank electronic banking guideline comply with the CBN electronic

banking guideline.


The main objective of this research work is to examine impact of electronic Banking on the performance of banking in Nigeria. How different 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 this study objectives are;

·        To evaluate the prospects of electronic banking inEco bank Plc.

·        To evaluate the impact of electronic banking in Eco bank Plc.

·        To examine whether electronic banking has improve the fortune of the Bank.

·        To examine the level of compliance of the Bank to CBN electronics Banking guideline policy.



To provide answer to the research questions arising from this study, the following hypotheses are postulated.

Hypothesis one

Ho:    Electronic banking does not have significant impact on the performance of

Eco bank Plc.

H1:    Electronic banking has significant impact on the performance of Eco bank Plc.


Hypothesis Two

Ho:    Adoption of Electronic banking does not enhance the fortune of Eco Bank Plc

H1:    Adoption of Electronic banking enhance the fortune of Eco Bank Plc


Hypothesis Three

Ho:    There is no significant relationship between operational efficiency of bank

and electronic banking

H1:    There is significant relationship between operational efficiency of bank and electronic banking


The research is equally significant because it would provide answers to factors militating against the implementation of electronic banking in Eco 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.


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 Eco Bank Plc .

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 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.



Access Products – Products that allow consumers to access traditional paymentinstrument electronically, generally from remote locations.

ATM Card - UB Debit Card is a Chip device consisting of circuit element on single silicon chip. The Card a complex circuits that process microprocessors with a single chips that contain the complete arithmetic and logic unit of computers.

Chip Card – Also known as an integrated circuit (IC) Card. A card containing one or more computers chips or integrated circuits for identification, data storage or special purpose processing used to validate personal identification numbers, authorize purchases, verify account balances and store personal records.

Electronic Data Interchange (EDI) – The transfer of information between organizations in machine readable form.

Electronic Money – Monetary value measured in currency units stored in electronic form on an electronic device in the consumers possession.

Electronic Recruitment –This is an online recruitment services to all kinds andcategories of clients such as (Army, navy, police and the Paramilitary) throughcustomizable web portals and the use of scratch cards/PINs for a Prospectiveapplicants.

Electronic Web Collection - This enables the Bank partner with Universities andhigher institutions of learning to handle Admission, Registration, ExaminationManagements and Fees Collection needs.

Internet Banking- This is a product that enables the Bank leverage on the InternetBanking System Module in-built on the new Banking Application (BANKS) implemented by the Bank to serve the Internet Banking needs of the Bank’s customers.

Mobile Banking - This is a product that offers Customers of a Bank to access services as you go. Customer can make their transactions anywhere such as account balance, transaction enquiries, stop checks, and other customer’s service instructions, BalanceInquiry, Account Verification, Bill Payment, Electronic fund transfer, Account Balances, updates and history, Customer service via mobile, Transfer between accounts etc.

Payment System – A financial system that establishes the means for transferringmoney between suppliers of fund, usually by exchanging debits or Credits between financial institutions.

Point Of Sale (POS) Machine - A Point-of-Sale machine is the payment device that allows credit/debit cardholders make payments at sales/purchase outlets. It allowed customers to perform the following services Retail Payments, Cashless Payments, Cash Back Balance Inquiry, Airtime Vending, Loyalty Redemption, Printing mini statement etc.

Smart Card – A Card with a computer chip embedded, on which financial health,educational, and security information can be stored and processed.

Transaction Alert - Our customers carry out debit/credit transactions on their accounts and the need to keep track of these transactions prompted the creation of the alert system by the Bank to notify customers of those transactions. The alert system also serves as notification system to reach out to customers when necessary information need to be communicated.

Western Union Money Transfer (WUMT) - Western union Money transfer is a product that allowed people with relatives in Diaspora who may be remitting money home for family up-keep, Project financing, School fees etc do so. Nigerian Communities known for having their siblings gainfully employed in other parts of the world are idle markets for Western Union Money Transfer

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