ELECTRONIC BANKING AS AN AID TO COMMERCIAL BANK

ABSTRACT

This study examines critically Electronic Banking as an Aid to Commercial Bank Operations in Nigeria, using first bank as a case study. Electronic banking (e-banking) has brought about a revolution in the functioning of banks as it offers major opportunities to banks and their customers. This has made the transition to electronic banking a necessity for banks in order to be viable. Despite its benefits, developing countries still lag behind in the adoption of electronic banking. Due to emergence of global economy, e-business has increasingly become a necessary component of business strategy and a strong catalyst for economic development. E-banking has become popular because of its convenience and flexibility, and also transaction related benefits like speed, efficiency, accessibility, etc. The customers (respondents) perception is that e-banking provides convenience and flexible advantages. It also provides transaction related benefits like easy transfer, speedy transaction, less cost and time saving. The researcher used primary and secondary methods of data collection to gather the needed data. The data obtained through questionnaires were presented in tables and analyzed using the simple percentage. The findings have also shown that factors which militate against successful effectiveness of electronic banking on bank growth and development are: power supply fluctuates, slow down in operation and poor network. The study recommends that Banks need to well package and market E-banking Products and services effectively to customers to close the seemingly knowledge gap that exists among the populace with regard to the benefits that can be derived from the services.