Technological Innovations in Bank of Africa (Uganda):

4935 Words Aug 17th, 2013 20 Pages
TECHNOLOGICAL INNOVATIONS IN BANK OF AFRICA (UGANDA):

AN EVALUATION OF CUSTOMERS’ PERCEPTION

Musa Moya
Senior Lecturer/ Head of Department Business Computing musamoya@yahoo.com Makerere University Business School

Rehema Nanvuma rehmashan@yahoo.com Buganda Land Board

Akodo Robinah arobinah@yahoo.com Makerere University Business School

Abstract

This study sets out to ascertain customers’ perception on the effect of IT innovations or electronic delivery channels in Bank of Africa (U) Ltd. The study specifically, examined the extent of bank’s innovativeness in information technology in B.O.A; the level of service delivery in B.O.A in relation to IT innovations and the employees’ perception of the effects of IT
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Information technology and IT innovations in banking sector Information Technology (IT) is the automation of processes, controls, and information production using computers, telecommunications, software and ancillary equipment such as automated teller machine and debit cards (Khalifa 2000, Agboola, 2004). It is a term that generally covers the harnessing of electronic technology for the information needs of a business at all levels. Innovations in information processing, telecommunications, and related technologies – known collectively as “information technology” (IT) – are often credited with helping fuel strong growth in the many economies (Coombs et al, 1987). IT is defined as the modern handling of information by electronic means, which involves its access, storage, processing, transportation or transfer and delivery (Ige, 1995). According to Alu (2002), IT affects financial institutions by easing enquiry, saving time, and improving service delivery. In recent decades, investment in IT by commercial banks has served to streamline operations, improve competitiveness, and increase the variety and quality of services provided. According to Yasuharu (2003), implementation of information technology and communication networking has brought revolution in the functioning of the banks and the financial institutions. It is argued that dramatic structural changes are in store for financial services industry as a result of the Internet revolution; others see a
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