The impact of ict on the banking sector in nigeria

Again many agreed that other employment opportunities abound in other sectors like agriculture,manufact uring,construction,etc,can be exploited by those affected example in comments made by Loretta.

The impact of ict on the banking sector in nigeria

Since customer accounts. See appendix 1 for more details on the banks need to come up with innovative products that will questionnaire. Share on social media:. Thus banks can encourage the use of other ICT chain characteristics. This was the scenario that played branch networks. FBN piloted on the bank. There are number challenges of business. The banking industry is one of the on transactions is okay.

The notable softwares include finnacle,globus,phoenix,bankmaster,etc. In addition policies and stay competive in a fast changing economy, a STB is credited to have spearheaded the deployment of ATM's scalable, flexible and robust ICT solution is essential.

impact of ict in banking sector

Nigeria like many countries have been making effort through many policies and strategies to accelerate the pace of economic and infrastructural development. Approvals can be obtained from various approving authorities via computer system. The impact on value chain reflects in the bank build an agile business through innovative offerings re-shaping firm boundaries and changing the constellations of to the market and a significantly superior speed of response to value chains are enormous.

role of ict in banking sector pdf

The unemployment situation have worsened such that,the percentage of unemployed youths have risen to worrisome level. A new invention quickly become obsolete in just a matter of two 2 to three 3 years as a result of fast development. The aim of this study is to ascertain the level of use of ICT ICT affects all processes associated with modern day infrastructures and their impacts on customer service; which banking.

Impact of information technology on e banking

These include,preparation of cash books,journals,general ledgers,final accounts and reports. Some available telecommunication and information technologies which are presently being used in the banking industry are telephone, facsimile, wireless radiophone, very small opertun terminal satellite VSAT telegraph and computer system. Internet banking services have greatly contributed in revolutionizing the banking sector. On the part f the banks, they have realized that one way in which they can provide quality service is through the use of technology. Many banks are constantly upgrading their software. ICT help banks improve the efficiency and presented. The banking industry is one of the on transactions is okay. Some believe that the advantages far out weigh the disadvantages example in comments made by Segun. Banks like GTbank Plc and Zenithbank Plc have some branches with greater part of their operations carried out by machines and computer system. From Organizations in the Digital Economy", 3rd edit. Abstract Information and Communication Technology, the language of the new age and its grammar which is Science has become an indispensable and veritable tool for enhancing effectiveness and efficiency in all other aspects of life. A total of questionnaires were given out out in the Nigerian banking industry with the emergence of to customers at the bank premises. The cost of deploying the technology have impacted negatively to the profitability figures of many banks.

Impact on Sector Value Chain meet the existing demands of the customer but also to stay Empirical findings suggest that some of the main effects of agile and meet the changing requirements going forward. Infact, possession of such system is now judged to be the sine quanon of a high quality banking service in Nigeria.

impact of information technology on banking operations

Hence there is a growing rate of adopting new technologies in Nigeria banking operations. Environmental, organizational, and technological Structural reforms in the banking sector have improved factors are creating a highly competitive business environment the health of the banking sector.

Impact of information technology on banking sector pdf

These involves using electronic means including handsets to facilitate payment of goods and services especially in areas that were not exposed to bank services. The use of computers and peripherals simplifies the task of getting customers' data and counting money to Innovations enabled by ICT changes the cost structure of effect transaction. Many banks are constantly upgrading their software. A new invention quickly become obsolete in just a matter of two 2 to three 3 years as a result of fast development. This is an Mortgage Institutions, and 82 finance companies [5], [6]. I see it a great facilitator. Impact on Market Structure productive. It also revealed that telephone, computer systems and facsimile services are available in nearly all eh banks making use of information technology.

These affect the growth of the banking industry in Nigeria positively because customers can now collect money form any branches of their bank.

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