The Operations, Problems and Prospect of Pos Adoption in Nigeria

This research project, THE IMPACT OF INFORMATION TECHNOLOGY ON BANKING SERVICES (CASE STUDY OF ZENITH BANK PLC), written, researched and submitted by EBHOHON OLUWASEUN I was carried out under my supervision and it is adequate in scope as a project it meets the requirement and regulations governing the award of Bachelor of Science in Banking & Finance,

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.

Since the evolution of e-banking, banking transaction has become very convenient or easy for customers to perform. However this technology has introduced a large set of risk. The breaches of security and disruption to the electronic banking system can damage the reputation of a bank. If a bank encounters a security breach, it can cause a customer to lose confidence in a banks electronic delivery channel. The Internet has grown exponentially. The Internet helps improve the communication between the bank and customers. The adoption of e-banking poses some challenges to the banking industry such as operational challenges which are fraud, processing errors, system disruptions, or other unanticipated events resulting in the institutions inability to deliver efficient services to their customers. There are several risk associated with the use of e-banking which includes systems failures, processing

Traditional banks offer many different services to their customers. These services include accepting customer money deposits, making loans to individuals and companies and providing servicing to the various loans and accounts offered. When compared with traditional channels of offering banking services through physical branches, electronic banking (e-banking) uses the Internet to deliver traditional banking services to their customers, such as opening accounts, transferring funds, and electronic bill payment (Fan, M. 2002).

In view of the deductions from the findings in chapter 4, it can be seen that even though most customer are aware of the e-banking channels they do not have confidence in the channels. Based on our theoretical framework from SERVQUAL model five dimensions analysis covered E- service quality dimensions such as tangibility, reliability, empathy, customization, security and responsiveness, the questionnaire covered the four online service quality dimensions can be used to measure service delivery in e-banking. Under tangibles, the respondents said the enlightenment campaign has been carried out by the bank. Most of the respondents do not feel the e-banking channels are reliable. For responsiveness, the respondents do not feel the bank responds promptly to their request/ queries and they also do not believe that the bank empathizes with them. The bank thus needs to focus on improving on services on its e-channels so as to enable customers build confidence on the e channel

Based on the finding of this study, all of users believe that there are two main factors adoption which are perceived usefulness and perceived ease of use leading them to use the e-payment. First of all, all of the respondents revealed that the reason of leading them for adoption of e-payment are the system available and beneficial for consumers at unconventional location and anytime. This opinion is in the lines of the research studies by Chinho and Conghoang (2011) on the factor of perceived usefulness. Users feel that the E-payment system can easily access and acceptance in anywhere compares with the traditional commerce by using cash in certain locations. Nowadays, most of the people would access the banking website such as Maybank2u to obtain the information and verify the transaction activity. The E-payment system are acceptable by public make the consumer convenience by surfing the website to purchase the item rather than going out to the shop. Besides that, all of the respondents also mention about that E-payment system are user friendly. Most of the people are preferred for simplicity which are clear and visible step or procedure in order to easily use with the E-payment system. The clear and visible procedure of the interfaces have lead users' intention learn how to use e-payment. These opinions are in the lines of the research conducted by Sanjeev and Krishna (2013) on the factor of perceived ease use. By using e-payment, users can save a lot of time because the

Information Technology directly affects the way banks operate, mangers decide and plan and products are being offered in banking industry. IT continues to change the variety of innovative devices available to enhance the speed and quality of services delivery. In this competitive environment, banks should be able to modify their traditional practice and be readily acceptable to the new technology in order to remain viable in business.

Nowadays, most people are familiar with new technology development of electronic banking systems. Its not only provide the basic services like fund transfer and bill payments, but also doing the advance including provide the loan and card application. Electronic banking can define as the use of electronic delivery channels for banking products and services. Electronic banking services generally offered in two ways either traditional bank that is combine traditional and electronic delivery channels or virtual bank that operate entirely through electronic banking channel without having a branch network. It makes the business operational more efficient, faster and easier

Bank increasingly switch to website system or e-banking side to catch the customers not only to inquire about the account balance, interest and exchange rates but also to made several online transaction activities. This up gradation of every bank systems come up in a race of to be ahead from other bank by which the bank look for new challenges in bank management, rules and supervision authorities to check the e-banking service is working smoothly and properly and customer can’t be affect by this new rules and catch more and more customers to promote the Bank.

The effect of information technology on the operation of deposit money banks in Nigeria cannot be overemphasized. New and better information technology entails that banks can add the service ‘differentiator’ to their products in a way. However, enabling tools which developed information technology can provide will make a significant effect on the operations of deposit money banks in Nigeria .

The main purpose of this study is to assess effect of Mobile Money Services (MMS) on the performance of the banking institutions: a case of Kakamega town. Thus, it seeks to examine how various mobile money services transactions’ impact on the performance of banking institutions in Kakamega town and also to establish the effect of accessibility to mobile money services on the performance of banking institutions in Kakamega town and finally the effect of efficiency and proficiency of mobile money services on the performance of banking institutions in Kakamega town. A sample of 115 respondents will be used to gather data from 13 financial institutions in Kakamega town. Data collection will be basically through self-administered questionnaires, both structured and semi-structure; interviews and observation.

In investing in electronic banking, the country will need a large amount of financial resources in computer technology, obviously, the resource is in short supply in Nigeria, couple with high level of poverty. For an efficient functioning of electronic payment system, there must be availability of infrastructural facilities such as electricity and telecommunication network, however, power supply fluctuates and there is still constant failure links in networks.

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.

Electronic banking is an automatic delivery of the new and old banking system of products and services to the customers.They give the service by the electronic and interactive communication channels. Financial institution customers, individuals or businesses are included by the E-Banking system which allows the system to access the account and also transact the business to obtain information about financial products through a network which is public or private by including the internet.[1].

Introduction During the last years, the banking industry has developed noticeably. The financial services industry is altering rapid and visible. Previous ways of doing business are fading fast. Together with this fast transition is also the rising competition among banks. One of the greatest influences behind all of this is the growing development in information technology. Because of this, costumers have been familiar with the ways of electronic banking services and its systems. Electronic banking is sometimes defined as