The Impact Of Information Technology On The Banking Industry In Nigeria

Project and Seminar Topics with material for Banking and Finance

Project and Seminar Topics with material for Banking and Finance


Abstract


This project work is on the impact of information technology in the banking industry. And all States Trust Bank will be chosen as a case study.

In doing this, both primary and secondary data were collected to solve the research problem. The population of the study comprises of the personal of all state trust bank and the customers that patronize their services.

The research instrument used for data collection were questionnaire and oral interviews. Tables, frequencies and percentages were used in presenting and analyzing the data collected. The chi – square statistics was used at 5% level of significance to test the various hypothesis.

From the data analysis, the researcher came up with the following findings:

  • That the customer are not satisfied with the level of information technology of the Bank
  • Also that high cost of information and lack of funds are some of the major set backs of the company that hinder the efficient rate of the bank’s information technology.

Then based on the findings above the researcher recommended the following that the bank should:

  1. Improve the information technology to help them enhance efficiency of the services and satisfy their customers
  2. That the bank should continue to source for information that would help them satisfy their customers.
  3. The problem of funds and high cost of information should be taken care of by releasing fund which will be used to improve the quality of information technology of the bank.

Chapter One


1.0 Introduction

1.1 Background of the Study

The world is a global village. It is due to the global state of the world that bedsore becomes such an organic economic activity aimed at producing goods and services. In this light of this organic nature of business, it constantly changes with improvement in science and technology. Business man and women have seen the need to also change their mode of carrying out business activities. In order to keep abrest with the current practice and to effectively face the constant and new challenges experienced in the business.

The growing expectation challenges, prompt the busies community into evolving means to smoothen the performance of business. There are number of challenges in business. These challenges are characterized by the constant changes in trade of customer as well as the competitors all towards achieving or controlling the patronage of the majority of the customer in the entire industry.

According to Nwukwu, 1998 on article written on 29th September, 1998 which says that many baulas in the past has strive to improve their counter services and reduce to the minimum, the waiting time of such services by employing more staff to cope with the increasing number of customers.

But this did not yield much result, with the advent of information technology in banks, like all banks have been able to automate some aspect if not all their operation and this has resulted to lower cost in terms of paid salaries to staff and waiting of customer. With the help of information technology all banks according to information systems, the decision making proves loans and credit evaluation and other banking services have been very efficient. To all banks and offices having realized the existence in the competitive economy depends on the level of information technology adopt it protectively that the range of information technology adopted by all banks must be determined by the peculiarity of its customers.

Thus to compete favourable and effectively in the work of today’s complex business environment, the business has to keep itself abreast with the dynamic changes and also adopt new methods currently practiced all over the world i.e by most successful business. To this end, this research work is set to study and research on “using management information system (MIS) to improve customer services and growth in the banking industry”.


1.2 Statement of Prolem

Information technology is an entrepreneurial as corporate resources should be managed and it greatly increase the opportunities that are available to the organization.

As a result of the increased demand for customer deposits, Nigerian banks especially the new generation or generalization of banks have realized the imperative of goods and prompt customer services. Also due to the fact that some customers have now become wiser more discerning alert and sophisticated with regard to closing where it is safe to put their money and where they would be saved promptly, preferably in a pleasant, courteous looking at the level of service and professionalism of the banks before depositing their funds. Proximity to the banks is no longer the issue. Safety and the level of service with regard to quality, speed and efficiency has become the major imperative.

On the part of the banks, they can provide quality service through the use of technology. Hence, there is a growing rate of adopting new technologies in Nigeria banking operations. Moreover, there is a growing evidence that the customers have started associating quality of service in bank with the bank’s possession of online real time system. In fact, possession of such system is now judged to be the sine quanon of a high quality banking services in Nigeria.


1.3 Objective of the Study

Among the objectives of the study are:

  1. To explore the relationship between information technology and service delivery ability of banks.
  2. To investigate the effect of information technology investment on profitability of the banks on customer loyalty.
  3. To investigate the effect of information technology.
  4. To relate the advent of information technology to the effect of service delivery on all banks.
  5. To suggest how banks executive can direct and manage the investment information technology and maximize profit.

1.4 Hypothesis Formation:

The null hypothesis will be tested against the alternative hypothesis.

  1. Ho1: Customer choice of banks is not a function of the level of information technology investment of the bank.
    Hi: Customer choice of banks is function of the level of information technology investment of the bank.
  2. Ho: Customer loyalty do not depend on a high information technology extent in bank.
  3. Hi: Customer do not perceive all states banks as high information technology bank.
    H3: Customers do perceive all states bank s high information technology bank.

1.5 Significance of the Study

Not only student of the nature. In the world of competitive business and scarce resources, on completion of this study, the man agement of inter continental bank will benefit much and know why it is necessary using the management information system instead of manual operation system.

Delays is a problem faced by the customers of the bank, a transition that was supposed to be executed in five to ten minute with the used of computer takes one hour or minute to complete because of the manual application in the operation. But this is not so in using the computer.

Efficiency and effectiveness are two important terms as far as banking sector or any establishment is concern. While efficiency refers to resources productivity in the organization, the bank can not compete favourably with other well

– know banks in the banking sector without having it operations computerized. This is because the success of these perturbing banks lies on the computerized operation, this then a bound impetus in the customer services.

Therefore, the bank to computerized its operation so as to join the ware of success experienced by other fast giving banks within the problem faced by the banks of which this write up will look into and find some cases of the problems and possible solution so as to advise the bank on the very forward to achieving success.


1.6 Scope of the Study:

Although this study is to cover all commercial bank. The researcher focus on commercial banks especially all states trust bank.


1.7 Definition of Terms:

Words

Management information system, formal method of making available to management the accurate and timely, information necessary to facilitate this decision making process and enable the organization planning functions be carried out effectively.

Electric Data Processing

The department where data processing takes place for a few organization oral function usually accounting and billing this concept of computer based.

Computer Based Information System (CIBS)

Information system which becomes better known as computer based (MIS).


Chapter Five


Summary of Finding Recommendations and Conclusion:

The research was carried out to determine the impact of information technology in operation of a bank services. All states trust bank was chosen as the care study.

Both primary and secondary data were collected by the researcher.


5.1 Summary of Findings

The research work was carried out to determine the impact of information technology in running a bank services.
Through the data collected was analyzed and tested using the chi – square at 5% level of significance.

Through the research study, the researcher gathered that most of the customer agreed that information technology of all states trust bank has a significant importance in operation of bank service. The customers also attested that they are not satisfied with the services of all states trust bank because of the inefficiency of the information technology services provided to the customer.

Though the research discovered that the financial capacity of the bank is Okey to run it well, but reversely the staff believed that the financial position and high cost of information are still some major problems limiting the effectiveness of the information technology of the bank. And according to the staff it is evident that effective and efficient marketing information technology will increase their work performance and increase their out – put.

Also, the bank lack of competent staff that would operate the modern data processing equipment and the limits the effectiveness of the marketing information technology.


5.2 Recommendation

The following recommendation made by the researcher in view to ensure that all states trust bank achieve its objectives.

  1. All states trust bank should be conscious of marketing information technology the more as a way to meet up with the competitive challenges in the banking industries.
  2. They should consider information as the life wire of every business, without information about the marketing, government polices, economic conditions etc no business could strive well.
  3. Again, the bank should carry out period research as to determine if their customers are still satisfied with the service s it renders.
  4. The manager should continue to source for good information and always believe that information technology would increase their work performance.
  5. The research recommends that the staff should also maintain customers relationship – as defined that the customer is the king. Note no service rendering could be done without what is called “people” as one of 7 Ps.
  6. If all states trust bank improves more on their information technology it would help their effectively and efficiently in bank planning.

5.3 Conclusion:

This research was carried out to determine specifically on the impact of information technology while all states trust bank was chosen as the case study. Therefore the researcher concluded that information technology plays a vital role in the efficiency of the services provided by all state trust bank.

In addition to the researcher is of view that efficient information technology will enhance better services and at the same time improve the level of decision marking as regards the bank operation.

The researcher concluded that efficient and effective information technology of the bank would enhance competitive position of the services rendered to customers.


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