The Effect Of Information Technology On The Performance Of Deposit Money Bank In Nigeria (A Case Study Of First Bank Nigeria Plc)

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The Effect Of Information Technology On The Performance Of Deposit Money Bank In Nigeria (A Case Study Of First Bank Nigeria Plc)


Abstract


There are indeed no doubts that majority of the organizations including the banks has taken advantage of information technology to enhance their operation. Most authors and researcher whose works were review in this study favoured the appreciation of information technology IT in deposit money bank; they provide significant improvement with facilities such as word processing, improving secretarial typing an some reprographic service, communication facilities in the form of electronic mail database. This is to assume that high customer satisfaction leads to sustainable revenue growth, profitability. Today most of than have website on the internet in order to extend service globally, provide executive services and promote quality of service delivery.


Table Of Content


Preliminary Page(s)

  • Title page i
  • Approval page ii
  • Dedication iii
  • Acknowledgement iv
  • Abstract v
  • Table of content vi

Chapter One

1.0 Introduction

  • 1.1 Background of the study
  • 1.2 Statement of the problem
  • 1.3 Objective of the study
  • 1.4 Research question
  • 1.5 Statement of hypothesis
  • 1.6 Significance of the study
  • 1.7 Scope of the study
  • 1.8 Limitation of the study
  • 1.9 Definition of terms

Chapter Two

2.0 Literature Review

  • 2.1 Introduction
  • 2.2 Theoretical frame work
  • 2.3 Traditional banking service
  • 2.4 Evaluation of information technology (computer)
  • 2.5 Modern technology equipment for banking service delivery
  • 2.6 The effect of information Technology on first bank performances
  • 2.7 Operation application of information technology
  • 2.8 The effect of information technology on banks customers relationship
  • 2.9 Trends of information technology computer usage in deposit money bank
  • 2.10 The effect of information technology on the performance of deposit money banks (First bank 2010-2014)
  • 2.11 Problems
  • 2.12 Future challenges
  • References

Chapter Three

3.0 Research Methodology

  • 3.1 Introduction
  • 3.2 Research design
  • 3.3 Sources/ method of Data collection
  • 3.4 Population and sample size
  • 3.5 Sample Techniques
  • 3.6 Validity and reliability o f measuring instrument
  • 3.7 Method of data analysis

Chapter Four

4.0 Presentation and analysis of Data

  • 4.1 Introduction
  • 4.2 Presentation of data
  • 4.3 Analysis of data
  • 4.4 Testing of Hypothesis
  • 4.5 Interpretation of result

Chapter Five

5.0 Summary conclusion and Recommendation

  • 5.1 Introduction
  • 5.2 Summary of finding
  • 5.3 Conclusion
  • 5.4 Recommendation
  • Bibliography
  • Appendix

Chapter One


1.0 Introduction

1.1 Background Of The Study

How attract would customer services be delivered in the year 2010 beyond

There can only be a reliable answer information technology used as a medium by financial service retailer who care about customers new and better information technology entails that bank an add better information technology entails that bank can add the services differentiator” to their product a wholly new, while the empowerment training and attitudes of staff in the delivery channel are catalyst to retail banking enabling took which developing information technology can provide a significant contribution.

The key to efficient banking in the future lies in maximizing the use of information technology. The brave new path of tomorrows banking will be on the electronic highway where the customer is not limited to dealing with just one bank in Nigeria for instance the challenges of information technology couple with the present competitive environment has made many banks computerize their operation at alarming rate.

Empirical evidence suggest that even through computerization has significantly enhance the speed with which banks provide service, generally it effectiveness is still limited by human factors. Also the empirical data thus reveal that the incidence of bank frauds have not significantly reduced with computerization. This is because the level of control particularly organizational control of computer system is still grossly inadequate. The effect of information technology on the performance of deposit money banks (first banks) in particularly will be replacement of manual labour operation and time wastage customer at the end customer are satisfied. more emphasis is laid on information technology which in corporate electronic operation and manual operation will be de-emphasized.
Our society is dynamic and one of the vital instruments that the needed is information technology that incorporates the mystery and actualization manufacturing method.

According to Oluwafolani, Joshu and Philip 2011) the 21st century has witnessed a dramatic evolution in the financial services industry as a result of the rapid advancement in information technology in transformation which has become known as e-development these change have engulfed all areas of financial intermediation and financial market such as e-finance, e-money, technology banking (e-banking) e-brokering, e-insurance, e- exchange and e-supervision. All this is under information technology (IT). Is turning into the most important factor in the future development of banking, influencing banks marketing and business strategies. As a result of rapid advance in information technology and intensive competition in the banking sector, the effect of information technology on the performance of deposit money bank (first bank) in particular is being increasingly the sued of channel of distribution for financial service. (Mahdi and Mehdad, 2010) cited in fonchamnyo 2013).

He said the world has witnessed an upsurge of information technology through an electronic payment instrument means to facilitate trade and simplify information technology, before the introduction of electronic payment instrument into first bank system customer had to walk in to their banking hall to do transactions of all kind. They had to queue up and spend more hours to talk to a teller to make their transaction inconvenience caused by these long queues discourage most customer who something renegade from the queues in annoyance. For many years, bankers (IT) experts, entrepreneur and other have advanced for the replacement of physical cash and the introduction of more flexible, efficient and cost effective retail payment solution. The effect of information technology on the performance of deposit money bank first bank in particular has experienced explosive growth and has transformed traditional practice in banking system. according ( Gonzalez 2008) this study examine the effect of information technology on the performance of deposit money bank, “first bank, “ with reference to internet banking, mobilize banking, total deposit and total asset.


1.2 Statement Of The Problem

Banks that have adopted information technology adopted their strategies to affect the new relationship between information technology and banking system. In this battle for competitive advantage and customer satisfaction, the emphasis seen to be on speed. Information technology plays an important role yet not all the banks seem to embrace it. Manual banking operation involves human being used brain power and manual desk entry with took like calculator and adductor machines. This has a lot of limitations.

This manual system involves posting of transaction from one ledger to another without the aid of computer system, the computation which should be done through computer which is technology machines, were done manually, which sometimes lead to miscalculation due to human errors which results in extension of closing hours when accounting is not balanced on time. Finally, how has information technology affected the performance of deposit money banks, and why some banks yet to embrace the all important concept.


1.3 Objective Of The Study

The main objective of this study is to examine the effect of information technology on the performance of deposit money bank / first bank in particular specifically the study objective are :

  1. To determine whether information technology has any effect on the deposit money bank.
  2. To see how delivery time can be reduced through information technology and satisfaction is given to customer.
  3. To know whether information technology has affected the performance of deposit money banks in terms of efficient, interactive with customer and of course reporting.
  4. To know whether information technology enhance efficiency of banks.

1.4 Research Question

The purpose of this study can also be carried effectively where some relevant questions have been answered.

  1. Is it’s possible to reduce customers waiting time though information technology in deposit money bank.
  2. Has there been any effectiveness, in the use of present information technology in increase banking industry, like internet service delivery system and electronic banking.
  3. Has there been any significant change in the performance of deposit money banks cause by information technology?

1.5 Statement Of Hypothesis

For the purpose of analyzing the data, the following hypotheses were tested.

  1. Ho1: information technology has no significant effect on the performance of deposit money bank.
  2. Ho2: Information technology has significant effect on the performance of deposit money bank.
  3. Ho3: to what extent would information technology asset the performance of deposit money bank.
  4. Ho4: why would people not yet to embrace information technology on the performance of deposit money bank.

1.6 Significance Of The Study

The study focuses on the effect of information technology on the performance of deposit money bank, first bank in particular. it is expected that the findings of the study will assist stakeholders in the banking sector ascertain whether the introduction of information technology has enhance the growth of deposit money bank in first bank plc, or not. If the finding o this study reveal that the information technology has not facilitated growth of deposit money bank in first bank, the study will recommend new strategy that bank should adopt in using information technology to impact positively on its growth . but, if the finding of the study shows that information technology has contributed positively to the growth of deposit money bank in first bank Plc, the study will still recommends measures that bank should employ in order to sustain the growth or even surpass it.

  1. The study will also come up with recommendations that will help stakeholders in the banking sector with new techniques to cop with banking challenge and meeting up customers.
  2. This study will also help the general public by creating awareness on the benefit of information technology. It also helped that the awareness that this study will create will drastically reduce cash handling, thereby reducing the cost of printing of cash, processing cost, storage cost, insurance cost and the cost of moving cash which include theft and possible attack by armed robbers.
  3. The study will also contribute to existing body of knowledge on information technology and offer opportunity for further study into the area.
  4. The study will serve as useful reference materials for students, academicians, institution corporate bodies and corporate managers who are interested in the subject of information technology.

1.7 Scope Of The Study

The scope of this work aimed at finding out the usage and effect of information technology on the performance of deposit money banks, first bank plc, in the service delivery, it also focus on electronic banking system. The research study has been limited by inadequate materials, this is because the area is developing and innovating. Beside the study is also limited by insufficient time to carryout the study. Above all, banks officials from how the information are to be take from, are always not favorable disposed to giving out their needed information.

Finally, finance has also been a hindrance. However this limitation does not hinder the work completely because of the researcher inclined interest in the subject matter.


1.8 Limitation Of The Study

The researcher encouragement a number of constraint in the course of this study and they include

1. Finance:

the researcher was carried on the limited resources of the researcher, the funds required were not forth coming, thus the researcher had to manage, the managing income available and this hampered the extensive coverage of the study.

2. Time:

the researcher did not have sufficient time needed for the research of this nature, thus he had to share his time with other academic chores.

3. Respondents:

on the part of respondents, some of them were reluctant to divulge information while some did not pay attention to the researcher.


1.9 Definition Of Terms

Information technology (IT) , IT concern all issues relating to computers, computer software, computer language ,structure , telecommunications , communication protocols and the use of these in obtaining effective and purposeful management information system.

1. Effect:

Oxford dictionary 6th edition, define effect as a change that something causes in somebody life or environment

2. Computer:

Electronic devices for storing, and processing data.

3. Hardware:

Physical device that make up a computer such as printer, disk clip etc.

4. Software:

It includes in built in a computer such a programmed, languages, money etc.

5. ATMS:

Automated teller machine

6. Information:

This is referred to as processed data.

7. Technology:

This scientific knowledge use in practical ways, or work in the industry.

8. Customers:

This is a person or an organization that buys something from a shop/store or business.

9. Bank:

This is an organization that provides various financial services, keeping and lending money.

10. Deposit:

This is an amount of money that is giving as a part of a large payment.

11. Money:

This can be define as a medium of exchange or payment deficit.

12. Transfer:

This is the aid of moving from one place to another , moving something / something from one place to another

13. Fund:

This is an amount of money that has been save or has made available for a particular purposes.

14. Payment:

This is an amount or sum of money paid or expected to be paid.


Chapter Five


5.0 Summary Conclusion And Recommendation

5.1 Introduction

The result of analysis carried out is summarized under this chapter, most importantly the research question and the hypothesis, also conclusion and recommendation for this study would be made under the chapter.


5.2 Summary Of Finding

This research work review and evaluate the effect of information technology on the performance of deposit money bank, in first bank plc.

The study focus on first bank Nigeria plc, the research used chi-square in analyzing data , like most other bank in Rivers state, first bank Nigeria Plc, recognized the need of information technology to enhance quality service delivery and satisfaction , most authors and researcher whose works were review in this study favored the application of information technology in deposit money banks , they opined that information technology provides significant improvement with facilities such as word processing improving secretarial typing and some reprographic services , communication facilities in the form of electronic mail database this is the assumption that high customer satisfaction lead to sustainable revenue growth profitability form the finding of this work, information technology has positive effect on the performance of deposit money banks and the recommendation drawn is that bank management should send their staff on training in the area of information technology for more productivity and greater performance, bank should ensure their operation is computerized and finally, the government should create away for the bank to acquire this modern equipment with a subsidized rate.


5.3 Conclusion

There are indeed no doubts that majority of organization including the bank has taken advantage of information technology to enhance their website on the internet in order to extended service globally. Provide executive service and promotes quantity of service delivery. Driven by ambitious aspiration to dominate the African financial service landscape and visionary management through information technology, Nigeria bank has been rapidly transformed from been just a bank to a one stop shop financial solution provider, as the economics of Nigeria and Africa continues to improve . Following the established path of the other emerging markets, that is , increased political domestic consumer demands, high commodity price significant improvement in other economic indicators, the bank in Nigeria are well positioned as a warrant on the African renaissance story. It is expected that when the 3Gnetwork is operational, it will boost M-commerce activities in Nigeria but may require further investment in the quality of cell phone. However, there are enormous opportunities for m commerce implementation in Nigeria based on the rate of growth and diffusion of mobile devices. There are prospects for patronage but may be depending on the available service.


5.4 Recommendation

For effective and maximum utilization of the findings, effective manifestation of the positive effect of information technology on the performance of deposit money banks, the following recommendation are made

  1. Because information technology bring with it new thinking, New disciplines and new working method, it is imperative therefore for bank not only to adopt technology in their operation but that staffs be send on training for greater performance improvement and productivity.
  2. Considering the positive role played by information technology on effective customer satisfaction, government (Federal government) should in it attempt to promote science and technology, create way to acquire information technology equipment at subsidized rates.
  3. All banks especially deposit money bank which do not have their operations computerized should do so to derive the benefits of using modern information technology, cost of installing should not be a hindrance. Finally information technology no doubt is a good initiative, its significance therefore that the critical success factor (CSF) must be learned and applied there is need to have common purpose to achieve excellent performance and in all information technology should be integrated in to the entire process.

The Effect Of Information Technology On The Performance Of Deposit Money Bank In Nigeria (A Case Study Of First Bank Nigeria Plc)


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