Impact of information and communication technology on the banking sector (a case study of access bank, garden avenue enugu state)

Thesis Overview

<p> </p><p>1 :0INTRODUCTION<br>1:1 BACKGROUND TO THE STUDY<br>Today‟s business environment is very dynamic and undergoes rapid change as a result of<br>technological innovation,increased awareness and demands from customers. Business<br>organization, especially the banking industry of 21st century operates in a complex<br>environment characterized by these changing condition and highly unpredicted economic<br>climate.Information and communication technology(ICT) is at the centre of this global<br>change. They point out that entire cash flow of most fortunate 500 companies is linked<br>to information. The adoption of ICT is defined as a collective term for a wide range of software,<br>hardware, telecommunications and information management techniques, applications and<br>devices, that are used to create, produce, analyze, process, package, distribute, receive, retrieve,<br>store, and transform information (Brady et al.,2002).<br>In essence the importance of information and communication technology banking is<br>itemized through information technology industry. Effectiveservice delivery in information<br>banking brings about reduced frustration and Improve level of awareness in an<br>organization (Ato,2004). Information technology has continued to change the way banks<br>and their corporate Relationship are organized. worldwide and the variety of innovation<br>device available to enhance the speed and quality of service delivery.<br>Ezeamama,(2010): reported that information and communication technology refers to the<br>various technologies that enhance the creation, storage, processing, communication and<br>dissemination of information. It involves the different infrastructure used in these<br>2<br>processes, their application and numerous service, these infrastructure renders. In 1978<br>annual report, the Bank reported that the department made steady progress on its effort to<br>effectively use of information and communication technology (ICT) to improve the<br>efficiency and the quality of service delivery on financial sector. Information and<br>communication technology is radically changing all over the world. The volume and<br>speed of handling transactions has improved tremendously as a result of the growth of<br>information technology which has created a lot of business opportunities. Application of<br>information and communication technology is capable of enhancing optimal performance<br>in service delivery if appropriately carried out. Optimal utilization of facilities might be<br>achieved if the design is done based on clear understanding of how the service is to be<br>measured. Such measurement include customer‟s service rate, traffic intensity and the<br>average number of customers in the queue. All these assist to make decisions on the<br>level at which information and communication technology can be applied for an optimal<br>performance in Banking operation. What prompted this work was the various<br>computerization activities going on in the banking sector which has been accredited to<br>the use of information and communication technology(ICT) in running of activities in<br>the banks. The study has also been considered worthy among numerous research work due<br>to the contribution to the banking system and economy at large. The study is to look at<br>the effect which ICT has on banking sector and also the threats it has created since the<br>use of ICT which has been an increase. Also to find it out the information and<br>communication technology has really improved the productivity of the banking sector<br>compared to when it was not being used. As such the information technology banking<br>makes use of modern satellite communication facilities and different modes of</p><p>transportation technology Banking is thus high capital – based organisation which has<br>network being spread by using modern sophisticated equipment: (Akunyili, 2004,)<br>1:2 STATEMENT OF THE PROBLEMS<br>This Research work is a study of the impact of information and communication<br>technology(ICT) on the banking sector. Many problems confronting the banks in Nigeria<br>is in their use of information and communication technology(ICT). The problem<br>associated with the study is to determine the true position of the banking system and<br>what it should achieve if it will align with the global Information. This however<br>becomes a huge task as the study tries to,<br>1. Identify the degree acceptance of information and communication technology in<br>banking sector.<br>2. Examine the contribution of information and communication technology to the<br>growth of the banking sector.<br>3. Know if information and communication technology is enhancing efficiency in<br>banking sector and the effects it will have on banks that have not fully adopted<br>it in their banking system.<br>1:3 0BJECTIVE OF THE STUDY<br>Themain objectives of this study include the following;<br>1. To identify the degree acceptance of information and communication technology in<br>the banking sector.<br>4<br>2. To examine the contribution of Information and communication technology to the<br>growth of the banking sector.<br>3. To know if Information and communication technology is enhancing efficiency in<br>the banking sector</p> <br><p></p>