Impact of Electronic Banking System in Nigeria. a Critical Appraisal of Unity Bank Plc

The electronic banking has various advantages than the traditional banking system which is simple and convenient for the users. The advantages are-

People’s life style has changed drastically from 20 to 30 years ago where on the street corner you can pick a fruit or some newspaper or magazine. The living pace is faster than ever and it is not stopping every single day. Nowadays on the subway underground to air flight 10,000 feet above the ground, pedestrians walking down the street to drives at red light stop, the small screen on that smart cellphone has changed the way of living for everyone. Technology innovations may be a big part of it but also it has given the wings for traditional service industry to keep up with modern lives’ needs. As the blood of modern economic system, financial industry has also utilized the IT technology to help itself running through each tubes of this system faster than ever. That is the rise of digital banking.

With the advance technology, banking has become a 24 hours a day and seven days a week ability. Not too long ago banks were only open from 9:00am to 3:00pm, workers and businesses rushing to get to the bank before they close. Paychecks were handed out personally not direct deposit, cashing or depositing a paycheck entailed a trip to the bank. Now most companies have direct deposit and the printed paycheck is becoming a thing of the past, this is only one example of how technology in banking has changed in society. The electronic banking (e-banking) can be described as the automated method of new and traditional banking services which reduce cost, and simplify front and backend process satisfying customers.

Internet banking has made bank transaction easy and convenient in the sense that people can do the transactions from anywhere they, desire to i.e in the home, offices, and schools. It has helped to avoid unnecessary trips to the bank.

1. To identify the key factors affecting the decision to adopt Internet banking system in Botswana.

The process of globalization and liberalization has virtually transformed the way of running business across the globe. Technology has entered into every sphere of the human life and the financial sector is no exception to it. E-banking, a product of the research conducted in the field of banking and financial services over the last century, is being used in India for some time now in the form of digital data in computers, Automated Teller Machines, credit and debit cards, mobile banking and net banking. Internet or e-banking means that any user with a personal computer and a browser can get connected to his bank’s website to perform any of the virtual banking functions. E-banking services can be availed for payment of bill, fund transfer,

But the study conducted by (Chiemeke et al, 2000) on the adoption of e- banking in Nigeria identified the major inhibiting factors to e- banking in Nigeria such as insecurity, inadequate operational facilities including telecommunications facilities and electricity supply. The inhibiting factors encountered in Nigeria is not different from Malawian experience because the efficiency and effectiveness of e – banking service delivery largely depends on the other stakeholders roles such availability of network which is being provided by Malawi Telecommunication Limited (MTL) and Electricity supply Commission of Malawi (ESCOM) for the supply of

I am a student from the Faculty of Computer Science and Information Technology in Kampala International University. You are kindly requested to participate in answering the following questions, which will be used in establishing the adoption process of Internet banking in Unguka bank. Any information provided will be used for academic purposes only. Please feel free to express your thoughts.

It is against this background, that besides the introduction other parts of the paper are structured as follows. Next to the introduction, the paper takes a look at the structure and development of the Nigerian financial system before explaining the role of the financial system in the Nigerian economy. Next to this is the section that addresses the history of banking reforms in Nigeria and the nature of the reforms. The last part concludes the paper after a critical look at development implications of banking sector reforms.

however Westpac sought to rely on the defence of ministerial receipt. Bth parties acted on the

Web saving money is slightly advancement in innovation and moves the managing an account industry into new universe of engineering. Internet managing an account that empowers budgetary establishment client, people or business to get to record, transaction, gets monetary data, pay bills & impose through the web.

The world has witnessed an upsurge of electronic payment instruments meant to facilitate trade and simplify payments. (Abor, 2004) Before the introduction of electronic payment into the Nigerian banking system, all customers had to walk into the actual bank to do transaction of all kinds. Customers had to queue up and spend more hours to talk to a teller to make their transactions. (Abor, 2004) The inconveniences caused by these long queues can discourage someone to make payment.

By B. B. EBONG GROUP MANAGING DIRECTOR/CHIEF EXECUTIVE UNION BANK OF NIGERIA PLC ABSTRACT Against the backdrop of the role of banks as financial intermediaries and their function as the engine of growth of the economy, this paper examines the extent to which the banking industry has helped to stimulate economic activities in Nigeria and what the prognosis looks like in the post-consolidation era. The paper notes that the banking industry in Nigeria witnessed a remarkable growth in terms of deposit base, number of branches, total asset and volume of loans and advances, especially since the de-regulation of the financial services sector in the last quarter of 1986. However,

The last time that technology had a major impact in helping banks service their customers was with the introduction of the Internet banking. Internet Banking helped give the customer's anytime access to their banks. Customer's could check out their account details, get their bank statements, perform transactions like transferring money to other accounts and pay their bills sitting in the comfort of their homes and offices. However the biggest limitation of Internet banking is the requirement of a PC with an Internet connection, not a big obstacle if we look at the US and the European countries, but definitely a big barrier if we consider most of the developing countries of Asia like China and

In Nigeria, Automatic Teller Machine technology is becoming more common than it ever was. ATMs appear to be mainly provided by banks in Nigeria. Yet, their widespread adoption by customers of banks is not