THE IMPACT OF INFORMATION TECHNOLOGY IN THE BANKING INDUSTRY
1.1 Background of the Study
Globally, information and communication technology has become a key element in economic development of many countries in the world. Over the years, many innovations have taken place in the world, the most striking and most celebrated is the aspect of information and communication technology. Organizations today are confronted with rapidly changing market condition indicated by high merger rate and strong competitors. Under these conditions, traditional management approaches that focus on financial figures and on centralized, analytical planning methods are considered to be insufficient for effectively steering the organization in dynamic environment.
Irechukwu (2000) Itemized banking services that have been changed via the use of information technology as including opening an account, mandate on customers account, and transaction process and recording. Information Technology which is synonymous with computer communication technology in everyday language can be defined as technologies that facilitates the information cycle, comprising gathering, processing, disseminating and storing of information and as such information and communication technology encompasses a wide range of technologies such as telephone, computer, word processing application, web browser, servers, full text document, database and main frame computers. Its devices especially modern computer, email facilities and internet has therefore strengthened early modernization such as fax and telephone. Other technology devices include data recognition equipment, telecommuting and teleconferences using real time and services (Adeoti,2005).
Information and communication technology has provided self services facilities from where customers can easily complete their account opening documents directly online. Information technology in Nigeria banking system and operation has been acknowledge as the life wire of banks in the financial sector as it promotes and facilitates the performance of banks in the country. These, therefore call for a pre-requisite need to embrace information and communication technology. It is in view of this that this research work attempts to examine the role of information and communication technology on the performance of banks in Nigeria today. Information communication technology has played a prominent role in all areas of human life but the breakthrough of social progress and the vigorous development has immeasurably increased the role of information in every factor of human life.Igwe(2005)noted that the advent of the electronic mail and personal computers on every desk ,the internet and its application to banking have produced amazing results.It has also improved the overall processes of commercial banks performance in Nigeria, via the use of innovation and creativity pertaining to information technology by commercial banks. This as a result has led to smooth, easy and convenient way of banking with adequate and quality service to customers, which has also paved way for efficiency and effectiveness to banking in Nigeria. Banking has now become almost totally dependent on the computer.
To get the complete project or material
Pay #3000 (10 Dollars) for Project material
Pay #5000 (30 Dollars) for complete project.
For new project writing refer to the service/charges menu
BANK TRANSFER OR DEPOSIT
ACCOUNT NAME : SAMUEL CHARLES
ACCOUNT NO. : 2009884029
BANK : FIRST BANK
ACCOUNT TYPE: CURRENT ACCOUNT
ACCOUNT NAME : SAMUEL CHARLES
ACCOUNT NO. : 2078806476
BANK : UBA
ACCOUNT TYPE: SAVINGS ACCOUNT
AFTER PAYMENT SEND YOUR PERSONAL DETAILS AS FOLLOWS –
NAME, TOPIC, DEPARTMENT, MOBILE NUMBER, E-MAIL, AMOUNT PAID TO +2348077215645 , +2348176196229 AS SMS OR WHATSAPP MESSAGE OR E-MAIL: firstname.lastname@example.org