ABSTRACT
This research work
is on the Impact of Computer to Modern Banking in Nigeria. A case study of Zenith
Int’l Bank
In advanced economies, technology has played a significant role since 1060’s. The role of computer in the financial world and other spheres of life cannot be over-looked and this has made it inevitable as the whole world has been turned into a global village. But in developing economies on the other hand, technology has relatively been poorly deployed in computer services.
In Nigeria,
deregulation of the banking industry in 1986 saw banks deploying technology as
the chief competitive weapon to achieve significant market shares in the
crowded banking industry. This brings a good decision on the other leas to
effective performance of managerial functions, which should in turn lead to the
attainment of the organization’s goals.
The research used
both primary and secondary data from findings. It was observed that about 90%
of the banks in Nigeria has improved and agreed that computerization has lead
to affective bank performance and have also reduce the cost of running bank
services.
In trying to state
the impact and problems related to
computer in the banking industry, the researcher observed that some problems
faced by these banks are; inefficient planning, fraud, errors, irregular
functioning of telecommunication facilities etc, and recommend that;
Proper awareness and orientation should be made with regards to illiterate bank customers who are still novice to computer innovations.
The computer department should be manned by people of good integrity and sound knowledge of computer to reduce fraud in the banks.
There should be adequate power supply to fasten and improve operation and also reduce cost of running bank services.
TABLE OF CONTENT
Title Page – – – – – – – – – – i
Approval Page- – – – – – – – – – ii
Dedication- – – – – – – – – – iii
Acknowledgement- – – – – – – – – iv
Abstract- – – – – – – – – – – vii
Table of Content- – – – – – – – – viii
CHAPTER ONE
- Introduction- – – – – – – – – 1
1.1 General
Overview- – – – – – – – 1
1.2 Statement
of Problems- – – – – – 4
1.3 Objectives
of the Study- – – – – – – 5
1.4 Significance
of the Study- – – – – – – 5
1.5 Research
Questions- – – – – – – – 5
1.6 Scope
of the Study- – – – – – – – 7
1.7 Limitations
of the study- – – – – – – 8
1.8 Definition
of Terms- – – – – – – – 9
CHAPTER TWO
2.0 Literature
Review- – – – – – – – 11
2.1 Background
of the study- – – – – – – 11
2.2 Evolution
of Computer Technology- – – – – 16
2.2.1 Definition of Computer- – – – – – – 18
2.2.2 Types of Computer- – – – – – – – 19
2.3 Evolution
and Development of Nigerian Banking System- 20
2.4 Future
of Computer in Nigeria
Banking System- – 23
2.5 Problems
Associated with the use of Computer- – 25
2.6 Computer
Related Fraud in the Banking Industry- – 26
2.6.1 What is Computer fraud – – – – – – – 27
2.6.2 Forms of Computer Fraud – – – – – – 28
2.7 Impact
of Computer in Nigeria
Banking Operation – – 30
2.8 Summary
of the Chapter- – – – – – – 35
References- – – – – – – – – 36
CHAPTER THREE
3.0 Research
Methodology- – – – – – – 37
3.1 Research
Design- – – – – – – – 37
3.2 Sources
of Data- – – – – – – – 38
3.3 Method
of data Collection- – – – – – 39
3.4 Population
Size- – – – – – – – 40
3.5 Sample
size- – – – – – – – – 40
3.6 Techniques
for Data Analysis- – – – – – 40
CHAPTER FOUR
4.0 Data
presentation and Analysis- – – – – 42
4.1 Data
presentation- – – – – – – – 42
4.2 Data
Analysis- – – – – – – – – 43
4.3 Analysis
of Hypothesis- – – – – – – 51
CHAPTER FIVE
5.0 Summary,
Conclusion and Recommendations- – – 57
5.1 Summary
of findings- – – – – – – 57
5.2 Conclusion- – – – – – – – – 60
5.3 Recommendation- – – – – – – – 61
Bibliography- – – – – – – – – – 63
Appendices – – – – – – – – – – 66
CHAPTER
ONE
- INTRODUCTION
1.1 GENERAL OVERVIEW
In
advanced economies, technology has played a key role since 1960’s. The role of
computer in financial world and other spheres of life cannot be over-emphasized
or, be over-looked and this has made it inevitable as the whole world has been
turned into a global village. But in developing countries on the other hand,
technology has relatively been poorly deployed in customer services.
Nevertheless,
bank even in the strategic role of technology driven services, played in the
efficient and cost effective service delivery. Investments in innovative
banking technology worldwide have therefore grown exponentially in past decade.
In
Nigeria,
deregulation of the baking industry in 1986 saw banks deploying technology as
the chief competitive weapon to achieve significant market shares in the
crowded banking industries (Aduba, 1997). This brings a good decision on the
other hand leads to effective performance of managerial functions which should
in turn lead to the attainment of the organization’s goal. The vital
ingredients for effective information apart from accuracy must also include
uniformity, timeliness, reliability, clearness and must be promptly transmitted
to the recipient and same time must be relevant to the area of specification.
Therefore,
this presentation reviews the enabling environment for technology driven bank
services in making effective planning, organization and implementation of the
policies of the organization. Introduction of computer networks similarly
created a new banking culture that granted customer flexibility in services
delivery through wider choice of transaction outlet give bank’s networks of
branches.
Electronic
banking system was an innovation into the banking industry. It was introduces
to ease the problem of;
- Casting delay in transaction
- Clearing
- Transfer of fund
- Accuracy in information from one location to the other
It
can be seen that before the introduction of computer in the banking industry, a
lot of problems were faced in processing transaction in various sections of the
bank, but with computerization, all these problems have been reduced or eased
off. The system has been embraced worldwide because it is easier and convenient
for both the sender and receiver. This has made banks like Zenith Bank,
Intercontinental Bank, Diamond Bank joined suit with First Bank Nigeria Plc in
giving Western Union Money Transfer services to people within Nigeria.
Computerization
or electronic banking has even helped in introducing electronic cards known as
pay cards (Credit and Debit Cards). This was introduced to avoid the risk of
carrying cash around. This electronic card is loaded with any amount in
alternative to physical cash with ease. The electronic pay card has gone a long
way in its establishment because people now prefer it to holding physical cash.
Infact computer has come to stay and has become a vital part in our society
because it has the capacity of extending men’s power to perform mental tasks
and provide imagination services.
1.2 STATEMENT OF
PROBLEMS
Before
the introduction of computer in banking operation, the banking industry was
faced with a lot of problems that made some people to lost interest and
confidence in them (banks). These problems are as follows;
- Delay in responses and services delivery time
- Improper handling, storing and keeping of date and
records
- Inaccuracy/errors in data entries and interests
computations.
- Transmission of fund from one place to another.
- Cash holding movement
- Delays in clearing cheque
- Poor monitoring of accounts leading to fraud
In order to eradicate or minimize all these problems, and foster confidence in banking industry, computerization was introduced to overcome all these problems and build confidence back into the industry and the people. (Anderson, 1979)
THE IMPACT OF COMPUTER TO MODERN BANKING IN NIGERIA A CASE STUDY OF ZENITH BANK INT’L PLC OWERRI
