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TOPIC : IMPACT OF INFORMATION TECHNOLOGY ON THE
NIGERIAN BANKING SECTOR (Case Study of Zenith Bank Plc)
BACKGROUND TO THE STUDY
Today’s organisations are confronted
with rapidly changing market conditions, indicated by
high merger rates and strong competitors. Under these
conditions, traditional management approaches that focus
on financial figures and on centralised, analytical
planning methods are considered to be insufficient for
effectively steering the organisation in a dynamical
environment (Hoffmann 2002). Recent management support
approaches like intellectual capital or particularly
the balanced scorecard aim at providing a broader view
of organisational performance. They combine both financial
and non-financial aspects and comprise activities not
only to monitor but also to plan and influence organisational
performance (Hoffmann 2002). Their success demonstrates
the strong demand for this so-called comprehensive performance
The role of technology in the “Information Age”
is well recognized by business, industry, and government
and is completely woven into their organisational structures
and strategic planning processes. Glover (1993) emphasized
technology’s role when he said “that the
quality of strategic planning is limited by the quality
of information available to decision makers…”
and that executive information systems were critical
in furnishing the necessary data which produced information.
Performance is defined
as valued contribution to reach the goals of an organization.
Contributions can be made by individuals or groups of
employees as well as by external groups. In the past,
the measurement of performance was usually restricted
to a financial perspective, resulting in various limitations
like e.g. a focus on the internal aspects of the company,
a limited transparency of the roots and causes of corporate
performance, as well as late availability of performance-related
information. In order to overcome these limitations
performance has to be considered as a multidimensional
phenomenon (Steven, 2002).
requirements are derived from the company’s strategy
or vision as well as from its stakeholders, e.g. customers,
suppliers or shareholders. However, it is not sufficient
to focus only on the management perspective of the performance
management concept. Like other management approaches,
performance management can only be implemented successfully,
if strategic planning is tightly linked to operational
execution. Therefore, the integration of strategies,
organisational structures and business processes by
the use of specialised information technology is considered
a vital part of performance management concept. It has
to be ensured that strategy changes trigger modifications
on the business process level and the supporting information
technology, and that innovations on the information
system or the process level initiate the adjustment
of the company’s strategy. Due to different life
cycles and varying actor groups, the alignment of strategy,
business processes and information technology support
often turns out to be difficult and expensive (Steven,
STATEMENT OF THE PROBLEM
Businesses need to continuously find better
and faster ways to adapt to the competitive marketplace
in order to compete in today’s high technology
and fast paced environment. Learning organizations provide
a framework that encourages finding better and faster
ways to adapt in today’s high technology and fast
paced world by:
a. Looking at the whole vs. the parts, a systemic perspective
b. Detecting and correcting errors
c. Improving actions through knowledge, and
d. Developing the broad skills of their work force.
These days computers and information processing are
everywhere. Computers influence what decisions are made,
when decisions are made, what information is available
at the point of decision and who is asked to decide.
Computers and information processing affects how work
is organized and how employees feel about work. Information
processing and computing is pervasive.
The essential element of management is information processing
and thus information technology systems are expected
to heavily influence management and business operation
and as such the main thrust of this research work is
to investigate the extent of this influence with especial
focus on modern banking operations in Nigeria.
OBJECTIVES OF THE STUDY
The general purpose of this study is to examine the
impact of information technology on the banking sector
Specifically, the study aims to:
1. evaluate the impact of Information Technology on
the operations of banking institutions in Nigeria;
2. examine the effect of Information Technology on bank-customer
3. identify barriers to efficient information technology
system within a financial institution.
This research work shall be guided by the following
1. Does Information technology contribute to the efficiency
banks and bank-customer relationship in Nigeria?
2. How does Information Technology impact on bank-customer
3. What are the barriers to the adoption of Information
Technology in Nigeria?
The hypothesis to be tested in the course of
this research work is:
H0 - That there is no relationship between the adoption
of information technology and modern banking operations.
H1 - That there is relationship between the adoption
of information technology and modern banking operations.
OF THE STUDY
In the light of the stated objectives which this study
is set to achieve, the following are the significance
of the study:
a. it would help to evaluate the adoption of information
technology by Nigerian banks in terms of its effect
on banks’ efficiency and bank-customer relationship.
b. it would also justify the application of information
technology in banking service delivery in terms of profitability
of banks. This could be used as yardstick by banks that
are yet to adopt information technology in their operations;
c. it would contribute to existing literature by identifying
the major barriers to the adoption the information technology
in banking operations in Nigeria and suggest how to
d. it would also be an invaluable tool for students,
academic, institutions and individuals that want to
know more about the impact and relevance of information
technology in Nigerian banking sector.
SCOPE OF THE STUDY
The focus of this study shall be on the adoption
of information technology in banking operations by Nigerian
banks. The researcher shall examine the electronic banking
operations of Zenith bank Plc. This study shall cover
the period since the introduction of information technology
in Nigerian banking sector to date. Information technology
was introduced into Nigerian economy upon the commencement
of the electronic payment scheme in1996. All the various
information technology related schemes introduced since
this period to date shall be examined in the course
of the study.
Survey research method shall be used to gather
information from respondents concerning their
opinions on the impact of information technology in
Nigeria’s banking sector. The questionnaire to
be used shall be carefully administered and a total
of one hundred (100) bankers would be selected from
various branches of Zenith bank in Lagos, for the purpose
of this analysis.
The data, which would be collected from the questionnaire,
will be analysed using the simple percentage method
and chi-square, goodness of fit. This will make the
analysis of the data more concise and simple.
OF THE STUDY
This study shall be divided into five chapters.
The first chapter; which is the introduction, shall
present the background of the study, statement of the
problem and objectives of the study among others. Chapter
two will deal with the literature review and the role
of information technology in business operations.
Chapter three shall be dedicated to the methodology,
which includes the characteristics and basic elements
of the research study shall also be presented. Data
presentation, analysis and interpretation will be covered
in chapter four while the concluding part of the research
work will be chapter five where in a nutshell the summary,
the conclusion and the recommendations would be discussed.
Central Bank of Nigeria (2003), Guidelines
on Electronic Banking in Nigeria. August.
of Nigeria (2003), Report of the Technical Committee
on Electronic Banking, February.
(2002), Performance Management – System and Implementation
Strategy. Berlin: Haupt publishers co. pp.2, 20, 337.
Steven A. (2002),
Information systems: The Foundation of E-Business. New
Jersey: Natalie Anderson. pp. 11 - 36
Glover, R. H.
(1993), “Executive information systems: Current
assessment & future agenda for Higher education”.
Developing Executive Information Systems for Higher
Education. New Directions for Institutional Research,
Glover & Krotseng, editors. Jossey-Bass. pp. 77
Business Process Modeling Language, Last Call Draft,
and Winter, R. (2004). “The Enabling Role of InformationTechnology
for Business Performance Management”. Institute
of Information Management, University of St. Gallen.
and Sample of Questionnaire are included
technology, information system, electronic banking,
electronic payment, banking operations, banking service
delivery, Nigeria’s banking sector
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