The impact of information technology on banking operations: A study of selected Nigerian banks.
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Date
2011-06
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Kogi Journal of Management, Published by the Faculty of Management Sciences, Kogi State University, Anyigba, Kogi State.
Abstract
Banks perform the role of mobilizing funds from surplus area to deficit sector. The banking system is a catalyst for a rapid micro economy development of other sectors of the economy. For banks to achieve these goals it needs information technology. The objective of the study is to examine how the adoption of information technology has affected the operations of Nigerian banks in term of effectiveness, efficiency, competitiveness, customer base and globalization of the bank. For this investigation, both the secondary and primary data was used. A research design questionnaire was administered to both staff and customers of the selected banks. The statistical tools adopted for this analysis was T-test and ANOVA. The study revealed that information technology has tremendously improved the growth and performance of the Nigerian banks. Information technology has lead to increased satisfaction, improved operational efficiency, reduced transaction time, gives the banks a competitive edge, reduced the running cost and ushered in swift response in service delivery. Based on the findings, it was recommended that government should improve electricity supply in the country and help to reduce intemet related fraud cases in Nigeria through the promulgation and enforcement of necessary electronic banking laws and policies in line with international standard.
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Keywords
Information Technology, Operation, Banks, Efficiency