The project highlight the important of Electronic banking
and the challenges of the Nigerian operating environment: An empirical study of
banks in Lagos State.
It shows the usefulness of electronic banking activities
and now it help in achievement of the overall objectives of an organization.
The project is divided into five chapters, the first
chapter contain the General Introduction which feature the aim of the project
The second chapter explain the definition of concept,
types of electronic banking, function of electronic banking, consideration and
effect of electronic banking system.
The third chapter deal with the skeletal frame work of the
study with various techniques and procedures used in data collection and
analytical treatment data.
The filth chapter include data presentation and analysis
of finding that are collected from respondents throughout, and all tools used
in sourcing for data.
The conclusion involve summary and finding, recommendations,
conclusive part and references.
TABLE OF CONTENTS
Table of contents
1.1 Background of
1.2 Statement of
1.4 Objective of
of the study
1.7 Scope and
delimitation of the study
2.2 The nature of
2.3 Challenges for
2.3.1 Features of the
Nigerian Payments System
2.3.2 Development of electronic
banking system in Nigeria
2.4 Features of
electronic Banking system
2.4.1 Statetic and
technical issues for Central Bank of Nigeria
3.3 Research design
3.4 Population of
3.5 Sample size
3.6 Restatement of
3.7 Restatement of
3.9 Data analysis
3.10 Limitation of
and interpretation of result
4.1 Data Analysis
findings, conclusion and recommendation
5.0 Summary of
A Bank for International Settlement (BIS) workshop on
electronic banking was held on 2-3 July 2001, focusing on current and
potential; change in exchanges and trading system payment-system and financial
This overview is based on the presentations given during
the workshop, some of which included in this volume, and ensuring discussions.
The most significant development of the millennium which
has substantially influenced business operation in the world is the emergency
of the information age. The remarkable progress achieved in information and communication
technology (ICT) has made it possible for information to be digitalized and
transmitted faster and cheaper in mega or terrabytes taking advantage of rapid
technology. Progress and innovation product for making payment have been
developed in recent years. Payment involves the transfer of monetary value for
one person to another thus, a payment system consists of rules and technologies
that make the exchange of payment possible.
However, transaction made using these innovation products
are accounting for an increasing proportion of the volume and value of domestic
and cross border retail payments. Currencies are notes are converted to data.
Which are transmitted through telephone lines and are converted to data, which
are transmitted to satellite transponders (Ovia 2002).
These new financial services created through electronic
banking system have resulted m a Substantial reductions in financial cost and
in the case of transfer of funds. Electronic banking system otherwise e-payment
system consisting of electronic mechanisms, which make the exchange of payment
possible. It can simply be define as payment or monetary transactions made over
the Internet or a network of computers Internet, (kulkarni 2004). In other
words it involves the provision of payment services and transfer through
devices which include Telephones, Computer Internet, Automated teller machine (ATM) and Smart Cards it is a paperless system of
payment which involve the case of cheques.
Infact, electronic banking system can be broadly
classified into two group namely wholesale payment system exist for non-consumer
transaction that is large value payment initiated among and between banks
government and other financial services firms.
1.1 BACKGROUND OF THE STUDY
The need for electronic banking in particular nation and
the challenges facing them cannot be overlook simply because it serve as a
stepping stone for economic and financial sector development of the nation.
Many developed countries of today do not stay with
development and survival of electronic banking because they know how it's
important to their' economic and financial sectors.
Besides, the history of electronic banks. Started in 1990
where the interest and other innovative information technology (IT) have
affected the financial system greatly, such
as moving from restricted proprietary system to open networks.
Since mid-2002 there has been a correction In public
perceptions about Internet related activities sharp in general, as reflected in the sharp
falls in the price of high tech stocks and disillusion with the earlier
electronic commerce as financial services are information commerce euphoria.
However these was less speculative mania surrounding application of the
Internet in the financial industry. Perhaps due to the moderating rule of
supervisors and improved information technology management (IT) following the
In many ways, electronic banking/ finance would see one of
the most promising area of electronic - intensive and often require no physical
delivery it is now realized that there are some relatively simple but time -
sensitive product such as banking is very successful and other where it has be
very successful and other where it has be very slow to catch on (e.g.
electronic -money, e -insurance).
There are some area where new Internet based technology may be transformation allowing (or forcing) a fundamental
redesign of market architecture.
In other, it will give rise to new business models, but in
some area it will have little impact (e.g. banks cooperation advisory work) as
well as its transformational impact. The network/internet could represent a
modem example of an old problem of banks.
A very rapid expansion of lending to a single industry
based on excessive enthusiasm about a new technology (earlier example include
steam, rail electricity, car and radio) whose implication are hard to predict.
The differences this time may be that the technologies also directly affect the
banking system itself.
Interest, policy maker face uncertainty about which part
of the financial system will come under stress, (Tuner 2001). They generally
wish to be technology guideline and neutral/balancing the desire to set
regulatory guideline before market development go too far and too quickly
(given that with financial rises, prevention is better than cure) against the
risk that a heavy handed regulatory approach may stifle innovation.
There are differences in the way authorities in various economics have responded
to those trades - offs. Some Asian and European economies favour limiting
electronic banking to regulated institutions while the united states trend to
favour a more hand-off approach (albeit with frequent on site reviews of
unregulated services providers.