ABSTRACT
This research work aims on focusing on the importance of
information technology on banking industries and economic development, with
emergence of technology banking industries as tremendously improve in
performance and be able to contribute to the development of the nation economy.
The aims of this study is to examine the importance of information technology
on banking industries and how it has enhanced the performance of banking
sector.
Data were sourced through primary means. The data gathered
were presented on table in percentage and the three hypotheses formulated were
tested with the aid of Chi Square analysis
From the findings it shows that information technology
play a significant role in developing the banking industries and giving an
effective performance to the industries.
In conclusion information technology cannot be overstress
in the banking industries and economy at large.
TABLE OF CONTENT
CHAPTER ONE
1.1 Introduction
1.2 Statement of
research problem
1.3 The aims and
objectives of study
1.4 The research
questions
1.5 The statement
of research hypothesis
1.6 Research methodology
1.7 The
significance of the study
1.8 The scope and
limitation of the study
1.9 Definitions of
basic terms
1.10 The plan of the
study
CHAPTER
TWO
2.0 Literature review
2.1 Introduction
2.2 Definition and concept of information and
communication technology
2.3 An overview of electronic banking in
Nigeria
2.4 The development and operations of
information technology in Nigeria’s banking industry
2.5 Queuing cost of banking
2.6 Causes of banking inefficiency
2.7 operational challenges of information to banking
2.8 Information technology and regulatory
authority
CHAPTER THREE: RESEARCH METHDOLOGY
3.0 Introduction
3.1 Research
Design
3.2 Methods
of Data Collection
3.3 Population
of Study
3.4 Sample
Size and Sampling Techniques
3.5 Restatement
of Research Hypotheses
3.6
Method Of Data Analysis
3.7 Limitations of the Research Instrument
CHAPTER FOUR: DATA PRESENTATION AND ANALYSES
4.0
Introduction
4.1
Personal
Characteristics of the Respondent
4.2 Response
of Respondents to the Problem Areas
4.3 Testing and
Interpretation of the Hypotheses
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATION
5.1 Summary
of Findings
5.2 Conclusion
5.3 Recommendations
References
Appendix
CHAPTER
ONE
BACKGROUND
OF THE STUDY
1.1 INTRODUCTION
The background of banking business in Nigeria can be traced
to the keeping of valuables over the years .banking in Nigeria has developed to
such level that the system does not need to hold all the funds in its vaults
for the purpose of meeting the day to day withdrawal needs. The systems hold a
small proportion, otherwise known as factional essence to meet the customer’s
withdrawal needs. The other (bigger) fraction is what the banks do business
with.
Today’s business environment is very dynamic and undergoes
rapid changes as a result of technological innovation, increase in awareness
and demand from customers. Business organizations, especially the banking
industry of the 21st century operates in complex and competitive
environment characterized by these changing conditions and highly unpredictable
economic climate.
Banking can simply be express as the business of keeping,
lending exchanging and issuing of money {Barnhart and Barnhart 2000} it can
also be said to be the business of bankers.
Banking today is undergoing a rapid and radical
transformation .the symptoms are obvious, new product, new players, new
challenges, new channels are appearing daily this transformation is taking
place across all sections of the banking industry.
Information and communication technology (ICT) or (IT) is at
the center of this global change curve. Laudon and Laudon 1991 contend that
managers cannot ignore information technology system because they play a
critical role in a contemporary organization. The point out that the entire
cash flow of most fortune companies is linked to information system. The
application of information and communication technology concepts, techniques
policies and implementation strategies to banking system services has become of
fundamental importance and concerns to all banks and indeed a prerequisite for
local and global competitiveness IT directly affects how managers decide, how
they plan and what products and services are offered in the banking industry.
It has continued to change the way banks and their corporate relationships are
organized worldwide and the variety of innovative devices available to enhance
the speed and quality of service delivery information technology is one of the
major issues on any chief executives agenda, thrust into prominence by the
massive and increasing magnitude of its costs at a time when competitive
pressure has never been greater, (Carrington et al, 1994) information
system technology can be any organized combination of people, software,
hardware, communication networks and data resources that collect, process and
dissemination information in an
organization [http/www.Jonathandonner.com/dpnner.Teller.m-banking we pdf].banks
urgently need to improve the ability to think strategically about information
technology investments.
Only banks that use their technology resources effectively
have the opportunity to secure real competitive advantage in this fast changing
competitive industry through real product and service differentiation.
1.2 STATEMENT OF
RESEARCH PROBLEM
The Nigeria financial sector scene was characterized by long
queues of people waiting to transact one business or the other in bank before
1980. During this period customer could stay a while just to collect trend in
banking, bank executive have resolved to change this ugly situation some of the
ways in which this issue could be addressed as:
v Introduction of more innovative service delivery in banks,
in view of the increasing competition in the industry. There is need to engage
in more research and development in order to introduce new producer services.
v There is need to ensure that banks improve their services
delivery so that avoidable queue of customers in the banking hall waiting to
transact one business or other is reduced to the barest minimum and valuable
man hours saved for productive purpose. This will improve the gross product
(GDP) of the nation.
v The impact of information technology should be underplayed.
There I need for banks to take advantage of the current development in
information technology so as to ensure prompt and quality services. There are
few pattern questions that this study intends to bring to light.
These are:
a) To
extent has information technology enhanced efficiency and effectiveness in
banking sector?
b) Does
information technology affect performance in banking sector?
c) How
do information technology helps in decision making in the banking sector.
1.3 THE AIMS AND
OBJECTIVES OF STUDY
i) To evaluate
the effect of information technology on the efficiency and effectiveness of the
banking sector.
ii) To
ascertain the effect of information technology on the performance of banks.
iii) To evaluate
the effect of in information technology on organization decision making.
1.4 THE RESEARCH
QUESTIONS
i) To what
extent has information technology enhanced efficiency and effectiveness in the
banking sector?
ii) Does
information technology in banking affects performance?
iii) Does
information technology enhances decision making?
1.5 THE STATEMENT
OF RESEARCH HYPOTHESIS
Hypothesis is generally defined as a conjectural statement
or tentative statement on a relationship between two or more variables.
The following research hypotheses were used to test the
effectiveness of information technology in the banking industry.
i) Null
hypothesis (H0)
ii) Alternative
hypothesis (H1)
Null hypothesis states that no differences exists between
two or more variables, it is a hypothesis of no different form. Thus, it haws the scientific advantage of
placing the investigator in a neutral ground thereby reducing the element of
personal bias to the minimum. It is the
null hypothesis that is usually tested.
An alternative hypothesis is an hypothesis, which specifies
any of the possible conditions not anticipated in the null hypothesis. It specifies
conditions, which hold of the null hypothesis does not hold.
HYPOTHESIS
ONE
Ho: ICT does not influence efficiency and
effectiveness of First Bank Plc., Banking System
HI: ICT influence efficiency and
effectiveness of First Bank Plc’s Banking System
HYPOTHESIS
TWO
Ho: There
is no relationship between ICT and organisational performance
HI: There
is relationship between ICT and organisational performance
HYPOTHESIS
THREE
Ho: IT
does not assist organization in decision making
HI: IT
assist organization in decision making
1.6 RESEARCH METHODOLOGY
In
achieving the stated objectives, the research methodology shall adopt
econometric approach. The econometric tools will be the regression analysis
using the Ordinary Least Square Method (OLS). The regression model will be
simple linear and little of multiple regression analysis will be used.
1.7 THE SIGNIFICANCE
OF THE STUDY
Information technology has brought about changes in the
economic and social conditions of the developed countries. Nigeria, as
developing country can realize IT to increase her traditional economic services
to global markets. The study therefore, was based on assessment of the impact
of information technology in a financial organization.
The significance of the study will include among others the
gains that will accrue to the research and invariably other interested parties.
To the researcher a vast knowledge of the impact of information technology in
banks will be gained. The result of this study will serve as a guide to
decision markers in the financial sector.
1.8 THE SCOPE AND
LIMITATION OF THE STUDY
The scope of this study shall be information technology in First
Bank plc. The study is supposed to touch on the very sensitive area of the
bank’s operation. As such reliance is placed the willingness of the banks
official to divide relevant information for the purpose of the study. In other
to ensure objectivity of comments and remarks. Reliance was placed on secondary
data such as annual report and statement of account. The reports are usually
prepared by independent professional’s standard and codes of conduct.
But because of financial and time constraints the
researchers decides to limit the research to First Bank Marina Head Office, Lagos.
The researcher was faced with limitations of obtaining data
from the employees and customers of the bank.
There was the problem of paucity of data; this problem is
indispensable in research efforts in modern environment since the study is
centered on a sensitive part aspect of bank practices.
Moreover, the major
difficulty the researcher encounter was the time constrains, the researcher had
little time going to other banks for comparison.
1.9 DEFINATIONS OF
BASIC TERMS
BANKS: It is an institution where money /valuables or documents
are kept for safe keeping and creates money by lending to customers.
INFORMATION
TECHNOLOGY: This is the use of
electronic devices (technology) to carry out major activities in an
organization. It is the
E-BANKING: Electronic banking this refers to the use of electronics to
carryout baking transactions.
MOBILE
BANKING: This refers to the use of
mobile phones to perform or carryout some banking services or transactions.
SYSTEMS: This is the connection of computers within an organization
to work together.
INTERNET: This is the global connection of computers in order for
them to be able to share and exchange all kinds of information.
INTRANET: This is connection of computers in an organization to share
all kinds of information.
A.T.M.: Automated Teller Machine is an electronic machine that
gives out cash to a customer as desired by the customers’ trough the use of a
card and pin.
PINS: This is a set of numbers required by an electronic device
before it can perform some certain functions.
1.10 THE PLAN OF THE
STUDY
To be divided into five chapters
Chapter one: - Introductory Part 1.1 to 1.9.
Chapter two: - Literature Review.
Chapter three:-Structural Composition of the Study.
Chapter four: - Research Methodology, Data Analysis and
Interpretation of Results.
Chapter five: - Summary, Conclusion and Recommendation.
Click “DOWNLOAD NOW” below to get the complete Projects
FOR QUICK HELP CHAT WITH US NOW!
+(234) 0814 780 1594
Login To Comment