AN EVALUATION OF INFORMATION TECHNOLOGY ON THE BANKING INDUSTRY (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)


AN EVALUATION OF INFORMATION TECHNOLOGY ON THE BANKING INDUSTRY (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)

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AN EVALUATION OF INFORMATION TECHNOLOGY ON THE BANKING INDUSTRY (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)

ABSTRACT

Information technology is a powerful force that drives the world towards a converging commonality. From the beginning of the human era, technology has been of the most essential and most important factor for the development of mankind.

The use of Information technology broadly referring to computers has seen tremendous growth in service industries in the recent past. The most obvious example is perhaps the banking industry.

This project examines the impact of information technology on the banking industry 2000 -2009. It will also find out how growth rate in computer technology cost, interest: interbank, inflation rate, total bank asset, total deposit, number of bank branches, total computer asset cost affect the performance of First Bank of Nigeria.

The study will analyze the problem of the impact of information technology on the banking sector, effectiveness of information technology to tackle the occurrence of long queues deposits and withdrawals; facilitates fraud, saves time of customers, just to mention a few.

This study adopted the ordinary least square multiple regression analyses, Pearson correlation co-efficient of determination to examine and appraise the relationship between information technology and the banking sector of First Bank of Nigeria. The findings show that Growth rate in computer technology cost, interest rate: (inter bank), inflation rate, total bank asset, total deposit, number and bank profits of First Bank of Nigeria.

This study recommends that in order for banks to increase its profitability and carryout good operations the bank should be saddled with the responsibility of mapping out strategies and itemizing tactics to boost its capitalization.

 


TABLE OF CONTENTS

CHAPTER ONE

1.1    Introduction

1.2    Statement of the Problem

1.3    Statement of Research Objectives

1.4    Statement of Research Questions

1.5    Statement of Hypothesis

1.6    Relevance of the Study

1.7    Sources of Data and Methodology

1.8    Scope of Study

1.9    Limitation of the Study

1.10 Definition of Terms

References

 

CHAPTER TWO:

LITERATURE REVIEW

2.1    What Is Information Technology (It)?

2.2    Brief History of Computers

2.3    Brief History of the Introduction of Information Technology in the Banking Industry of Nigeria

2.4    The Purpose of Information Technology in Banks

2.5    Types of Electronic Devices Used For Banking Services

2.6    SQL/Image Machine

2.7    Automated Cheque Sorters

2.8    Electronic Fund Transfer (EFT)

2.9    Factors Affecting the Development/Adoption of Information Technology

2.10  Impacts of Information Technology on Banking Industry

2.11 Development of Electronic Market in Nigeria

2.12  Regulatory/Supervisory Challenges of the Development of Information Technology in Nigeria Banks

2.13 Legal and Regulatory Framework

2.14 Security of Financial Transaction

2.15 System and Infrastructure Failure

2.16 Money Laundering and Other Financial Crimes

2.17  Central Bank of Nigeria Supervisory Capacity and Information Technology in Nigeria Banks

2.18 The Future of Electronic Banking in Nigeria

References

 

CHAPTER THREE:

RESEARCH METHODOLOGY

3.1    Introduction

3.2    Research Design

3.3    Re-Statement of the Research Problem

3.4    Re-Statement of Research Questions

3.5    Statement of Hypothesis

3.6    Sample Design and Procedure

3.7    Method of Data Analysis

 

CHAPTER FOUR:

DATA PRESENTATION ANALYSIS AND INTERPRETATION

4.1    Introduction

4.2    Presentation of Results and Data Analysis

 

CHAPTER FIVE:

SUMMARY OF STUDY, CONCLUSION AND RECOMMENDATION

5.1    Introduction

5.2    Summary of Study

5.3    Conclusions

5.4    Recommendations

Bibliography

 

 

CHAPTER ONE

1.1   INTRODUCTION

The use of information technology, broadly referring to computers and peripheral equipment, has seen tremendous growth in service industries in the recent past. The most obvious example is perhaps the banking industry, where through the introduction of information technology related products in internet banking, electronic payments, security investments, information exchanges (Berger, 2003), banks now can provide more diverse services to customers with less manpower.

Information technology is a powerful force that drives the world towards a converging commonality (Levitt, 1992). From the beginning of the human era, technology has been of the most essential and most important factor for the development of mankind (Coombs et al, 1987). During the last two hundred years, technological changes have often been related to economic growth in the forms of new types of goods and services Smith (1776) first wrote about technical changes in the form of new machines as some of the important causes of increasing incomes more than 200 years ago.

Research shows that information technology affects financial institutions by easing enquiry, saving time and improving service delivery (ALU 2002). Information technology also provides solutions to the needs of modem societies in health care delivery, library services, education and communication networks within organizations etc. Seeing this pattern of growth, it seems obvious that information technology can bring about equivalent contribution to profit.

Some available telecommunication and information technologies which are presently being used in the banking industry in Nigeria are telephone, facsimile, wireless radio phone, very small Aperture Terminal Satellite (USAT), telegraphy, computer system, magnetic ink character recognition (MICR) which provides room for encoding of cheques and all documents on a character in magnetic ink, electronic fund transfer (EFT), credit or value card etc.

According to Alu (2002), some banks in Nigeria have LANS (Local area network) in most of their branches but none of the banks have deployed home banking applications. As a result of the increased demand for customer deposits Nigeria banks especially the new generation banks have realized the imperative of good and prompt customer service.

Also, due to the fact that some customers lost their deposits in the erstwhile technically insolvent or distressed bank customers have now become wiser, more discerning, alert and sophisticated with regards to choosing where it is safe to put their money and where they would be served promptly, preferably in a pleasant, courteous and friendly environment. Thus they have started looking at the level of services, with regards quality, speed and efficiency has become the major imperative. On the parts of the banks, they have realized that one way in which they can provide quality service is through the use of technology.

Hence, there is a growing rate of adopting new technologies in Nigeria banking operations. Moreover, there is growing evidence that customers have started associating quality of service in a bank with the bank’s possession of an online, real time system. Infact, possession of such system is now judged to be the sine qua non of a high quality banking service, in Nigeria, so a bank to be perceived as providing high quality service, that banks have to have an information technology system, which it uses to deliver services to customers in a more timely, friendly and considerate manner at no extra cost to the customer.

AN EVALUATION OF INFORMATION TECHNOLOGY ON THE BANKING INDUSTRY (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)

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The use of information technology, broadly referring to computers and peripheral equipment, has seen tremendous growth in service industries in the recent past. The most obvious example is perhaps the banking industry, where through the introduction of information technology related products in internet banking, electronic payments, security investments, information exchanges (Berger, 2003), banks now can provide more diverse services to customers with less manpower. .. business administration project topics

AN EVALUATION OF INFORMATION TECHNOLOGY ON THE BANKING INDUSTRY (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)

Project Information

  • CATEGORY : BUSINESS ADMINISTRATION
  • TYPE : PROJECT MATERIAL
  • FORMAT : MICROSOFT WORD
  • ATTRIBUTE : Documentation Only
  • PAGES : 81 Pages
  • CHAPTERS : 1 - 5
  • PRICE : ₦ 3,000.00

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