Electronic Banking System in Nigeria

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Guaranty Trust Bank Plc over more than two decades has distinguished itself as a leading institution and a major contributor to the economic advancement in Nigeria.

Guaranty Trust Bank Plc with its headquarter at Victoria Island, Lagos as at December 2011 had an operating income of N141.729 billion, net income of N52.654 billion, total asset of N1,525.010 billion and a total equity of N235.911 billion and it had more than two thousand,five hundred employees in Nigeria. Its subsidiaries include Guaranty Trust Assurance Plc, GTB Registrars Ltd, GT Homes Ltd, GTB Assets Management Ltd, and GTB Finance B.V Netherlands. Guaranty Trust Bank has over 160 branches in Nigeria and runs nationwide more than 230 ATMs. As one of the first banks in
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Also imagine a man so busy at work in Ibadan taking just three minutes break to log on to the website of his bank and transfers some fund directly from his account into that of his daughter schooling in Abuja and within another two minutes, the daughter recieves a notification of the amount credited to her account to which she has full access, note that all the banking transactions took just five minutes to complete irrespective of the distance between the entities involved. All these can only be made possible through the adoption and inception of electronic banking system in a nation.Customers in developed countries enjoy faster and easier service but this modern banking system has not been fully adopted in developing nations like Nigeria.

Another issue is the security challenges that electronic banking system is presently faced with in Nigeria. Most of the older customers are not so familiar with the card payment system and how to keep the card from fraud perpetrators now to talk of knowing its benefits.

Considering Guaranty Trust Bank Plc, Nigeria as a case study,this present research questions were processed to solve the problems associated with the adoption of electronic banking in Guaranty Trust bank and the banking industry in general in terms of connectivity to the internet.
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