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Research Key

An Evaluation Of How Information Technology Has Contributed To The Profitability And Efficiency Of Banks

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International: $20
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A powerful force drives the world towards a company commodity and that force is technology (Levitt 1992) from the beginning of the human era, technology has been one of the most essential and most important factors for the development of mankind (Idoms et al., 1987). During the last two An oration decades, technology changes have often been related to economic growth in the form of new types of goods and services. Smith (1976) first wrote about technical changes in the form of new machines as one of the three important causes of increasing incomes more than two decades ago.

It is now generally accepted that, days of traditional banking operations are gone and that the future lies on the information and communication Technology (ICT) based credit assessment systems and services. There is no doubt that the effects of technology based credit assessment system, technology driven product development and computerized human resources management system, financial planning and monitoring systems have completely altered the terrain for competition in the banking industry globally. Information has increasingly become the life of blood of an organization and the management of enterprises through information and communication Technology (ICT) has become an important strategy in any banking institution.

          The greatest innovation that has taken place in the last two decades, information and communication technology is the introduction of computer and advances in information and technology, which have transformed the global economic and have particularly put the banking sector on accelerated pace development. The information revolution was led to the convergence of the computing and telecommunication network, covering the world through cable and satellite information super highways. Global networks have dismantled rational boundaries and barriers and aerated a global village where one can access information from any part of the world by the mere touch of mouse.

          The banking industry today appears to be truly improving with the technology and aiding globalization and integration of the world’s financial markets, there has bee quantum jump in the expectations of customers for newer product and alternative delivery pressure today about what customers are expecting in the future.

          Information and communication technology (ICT) can therefore be defined as the modern handling of information by electronic means of communication Ige (1995) information and communication technology has become helpful by allowing companies to gain access to their bank statement on personal computer and also individual on their mobile phones.      




Development in a country can be measured in terms of its overall social, economic and political development. But no matter how developed the country is, it cannot be self sufficient, there is an everyday urge to improve in the social relationship and economic development.

          In Nigeria, during the pre-colonial era, there was always anointer nation which starts mostly from trading activities which enables for country to exchange what it has for what it requires trading was carried out among the various tribes that made up the present Nigeria nation through the primitive methods of trade by barter system which is the exchange of goals services.

However, as society grew more complex, these methods of exchange become insufficient coins and paper notes where introduced and these made it easy for any amount of goods and services to be acquired at the exchange of such coins and paper notes.

The use of information technology is widespread from the most developed countries through the developing countries to the least developed countries, although the extent of overall use is directly related to the level of development. Deposit-money banks since they are highly information intensive, have invested in information has become a necessarily for financial institutions keep on trying to come out with new services/products with are information technology based (Pritam, 2002).


The complexity of modern day banking necessitates the use of  information and communication technology. Therefore, the mobility of  banks to fully adopt information and communication technology is the major research problems.

Although, most banks in Nigeria claim to have been computerized their operations, it’s mostly in the area of quotation of simple clerical procedures of personal payroll and little of these operation are felt. By the customers.

Information and communication Technology are vital to banking operations while the non-application of like technology in the banking brings about inefficiency. Hence, this research work is aimed at addressing the impact of information and communication technology on the operational efficiency of the Nigeria banking sector. To make this work more significant, the following questions are to be addressed.

  1. What makes up information and communication technology
  2. To what extent has bank applied information and communication technology
  • What are the obstacles faced by banks in the application of information.

Specifically, the study is necessitated by the languisher wacting time at the counter which is as a result of the manual operation prevalent in the banking and how the impact of ICT has helped in operational efficiency of Nigerian Banking sector.

          The following issues would therefore critically examined

  1. To what extent has the introduction of ICT as helped in achieving efficient service delivery?
  2. To what extent do the banks going acquiring this knowledge.
  • What are the problems faced by management in trying to implement the electronic banking system which is aided by ICT?

ICT has become anxious if bank do not have means of delivering their services on line and real time across their branches within the country abroad. The objectives are:

  1. To know whether information technology has contributed to the profitability and efficient of banks in Nigeria.
  2. To find out whether information technology system has increase customers satisfaction.
  3. To know how ICT has helped banks produce high cost of operation.
  4. To know how the application of ICT to the managing operations of the bank have been augmented.
  5. To ascertain whether or not the level of ICT used in Nigerian banking sector can make it complete favourably in the global financial market.
  6. To identify and provide solution to the problems being on countered by banks in their use of information and communication technology.
  7. To ascertain whether or not the level of ICT used in Nigerian banking sector can make it complete favourably in the global financial market.
  8. To adentify and provide solution to the problems being ecountered by banks in their use of information and communication technology.
  9. How information and communication technology has helped banks to reduce high cost of operations.
  10. How the application of information communication to the managing operations of bank have been augmented.
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