Osuagwu 1, 2 baze university abuja,nigeria 3 nile university abuja,nigeria abstract. Electronic banking has many advantages and should be highly encouraged. In the past few years, banking activities in nigeria have increasingly depended on the development of information and communication technology ict. Since electronic banking started in all nigeria banks, it has been a woe for civil servants. Ebanking use a smart card with a prepaid amount of money embedded in it for use instead of cash at a pay phone, expressway road toll, or on college campuses at the librarys photocopy machine or bookstores. Ebanking in ghana prospects and challenges graphic online. An examination of e banking fraud prevention and detection in nigerian banks. A purposive sampling technique was employed to identify specific users and nonusers of ebanking facilities. Electroniccommerce in nigeria is in an embryonic stage. Electronic banking is an important tool for all banks to survive in the competitive nigerian banking industry. Pdf the emerging trend in internet banking in nigeria is of global concern. This study examines the relationship between the quality of service and customer satisfaction in the e banking era. The nigerian banking sector has witnessed tremendous changes linked with the development in information system over the years. Earlier banking customers were required to personally visit a bank branch in order to transact through their saving accounts but with the arrival of internet.
To evaluate the prospects of ebanking in nigerian banking environment. It refers to the use of information and communication technology. D, wesley university of science and technology, ondo, nigeria. Ovia2003 posited that the hype of e commerce, e banking and e everything is gradually being embraced by nigerian financial institutions who are poised to be in the vanguard of narrowing the digital divide. Despite the early stage of electronic banking in nigeria, banks are already offering various financial services through the.
Pdf internet banking authentication methods in nigeria. An examination of ebanking fraud prevention and detection in. Benedict mbanefo emewu department of computer science ebonyi state university, abakaliki i. The bank obtained its commercial banking service licenses on 1 st august 1990 and commended full operation on 11 th february 1991. An examination of ebanking fraud prevention and detection in nigerian banks. Adelelouise carter abstract the internet and other electronic media have had a positive impact on the lives of individuals and businesses all over the. Electronic banking has many names like e banking, virtual banking, online banking, or internet banking.
In this article, we will look at the importance and types of e banking services. Electronic banking and profitability of commercial banks. The research has been conducted on the impact of ebanking on the operational efficiency of banks in nigeria, a case of diamond bank plc, bauchi branch, nigeria. Ebanking and service delivery in eco bank nigeria a. Guidelines on e banking in nigeria due to increasing response of banks to e banking in nigeria coupled with the supervisory role of central bank of nigeria led to the setting up of technical committee on e banking in 2003 and also the formulation of guideline on e banking based on the report submitted by the committee in 2003. The term electronic banking or e banking covers both computer and telephone banking. The objective of the study is to determine the impact of ebanking on the operational efficiency of banks in nigeria. Electronic banking today is one out of the thousands of technologically advancement paving ways in africa especially nigeria.
Have your paycheck deposited directly into your bank or. Impact of ebanking on the operational efficiency of banks. Electronic banking is now a global phenomenon and is now utilized by countries round the world and nigeria is not an exception. There are few innovations that have changed the dynamics of banking as much as the e banking revolution. Ebanking and commercial bank performance in nigeria ijeeee. Electronic banking is an important tool for all banks to survive in the competitive. Hours spent engaging in rigorous and stressful transaction processes at the bank can be saved and used for something meaningful and beneficial.
An investigative study on factors influencing the customer. History of ebanking in nigeria by media nigeria on april 27, 2018 no comment. In its survey on the extent of e banking adoption by nigerian banks, the central bank of nigeria cbn, in september 2002, found. Arising from the three major roles of the cbn in the areas of monetary policy, financial system stability and payments system oversight, the cbn technical committee on ebanking has produced a report, which anticipates the likely impact of the movement towards electronic banking and payments on the achievement of. The respondents in each group were randomly selected to avoid selection bias. Introduction ebanking also known as internet banking, or virtual banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a.
During this step of the process, controls that could mitigate or eliminate the identified risks, as appropriate to the organization. The central bank of nigeria cbn recognizes that electronic banking and payments services are still at the cradle stages of development in nigeria. But when truly analyzed, there is a possibility that this may not be so. A purposive sampling technique was employed to identify specific users and nonusers of e banking facilities. The general purpose of the study is to examine the impact of ebanking on the development of nigeria banking sector. A sample of 398 respondents was selected, out of the total number of 66,895 customer population. The use of electronic banking in nigeria has now become a timesaving factor enabling multiple tasks to be done within a short period of time. It is an unequivocal fact that on daily basis the world experiences new inventions, innovative ideas and technological advancement and these inventions spread across various continents of the world including africa.
This is speedily becoming a reality in the industrially and economically advanced parts of the world, with people who are far away being able to engage in formal and informal relationship, which would have. To achieve these potentials, the paper advocated engendering confidence in the e banking mechanism by addressing security concerns and providing necessary infrastructure like steady electric power supply. The money you spend in transporting yourself to the bank to perform a transaction can be saved and used for other purposes. Hence, the e banking now becomes a virtual banking counter that the individual and corporate customer to carry out the regular activities. Electronic banking has become a very important and indispensable too1 for the present survival and growth of financial institutions considering the dramatic. The most resilient banking group with operations in 20 african countries and offices in three global financial centers. Given the above scenario, therefore, this study focuses on finding how ebanking has been able to enhance the profitability of commercial banks in. Implications for customer awareness and attitude in nigeria. An examination of ebanking fraud prevention and detection.
There are still some challenges of ebanking in nigeria such as fraud, long waiting days for reversal of failed transactions, long queues and so on. Although there are still challenges facing ebanking operation in nigeria such as. Guidelines on ebanking in nigeria due to increasing response of banks to ebanking in nigeria coupled with the supervisory role of central bank of nigeria led to the setting up of technical committee on ebanking in 2003 and also the formulation of guideline on ebanking based on the report submitted by the committee in 2003. The impact of ebanking service quality on customer. To examine the impact of ebanking on the operations of financial institutions 4. Nigerian banking industry performance in understanding banking business, ibfc agusto, training manual, ibfc limited, lagos, 2003.
However, this system has some hitches that need to be removed. Although ebanking comes with a lot of advantages, this fastevolving service is not without challenges. Emphasis of previous research on ebanking has been on factors that influence its adoption or constraints to the adoption or the extent to which customer awareness influences its adoption. The adoption of information and communication technology in banking sector is generally referred to as electronic banking ebanking and application of its concepts, techniques, policies, and implementation strategies to banking services has become.
Problems and prospectsks in nigeria 30 words 6 pages. The impact of ebanking on customer satisfaction in nigeria. Impact of ebanking on the operational efficiency of banks in. Thus, the banks domestic or foreign are investing more on providing the customers with the new technologies through e banking. The emerging trend in internet banking in nigeria is of global concern. Questionnaire and oral interviews were used to collect data for this.
Evidence from nigeria, authoroginni simon oyewole and mohammed abba and jibreel gambo and ikpi abam and m. E banking has revolutionized the lives of all individuals of present times and is considered to be a wave of information revolution after the agricultural and industrial revolution. Get free research paper on evaluation of the relationship between ebanking and cyber crime in nigeria fidelity bank plc, 20112015 project topics and materials in nigeria. Pm, phd management faculty, consultant and corporate trainer acharya institute of management and sciences 1st cross, 1st stage, peenya industrial area. The availability and proper functioning of electronic banking services depends on many variable circumstances, including location, mobile network and internet availability and signal strength, and proper functioning of hardware, software, your mobile. In ghana, most banks currently provide some form of ebanking services, but. Electronic banking in nigeria saves the time of both the customer and the time of the banking officials. Many studies have investigated how ebanking service quality is measured, but few have studied the relationship between the quality of ebanking services and customer satisfaction in lebanon.
However, one area of electroniccommerce that has proven successful in nigeria is electronic banking e banking. E banking, service quality and customer satisfaction in. Pdf overview of electronic banking in nigeria chris. The impact of electronic banking and information technology. Downloading bank statements, for example in pdf format. For one thing, the nigerian economy is a strong force in africa. The study examined the marketing of bank services in some selected banks in nigeria.
The availability and proper functioning of electronic banking services depends on many variable circumstances, including location, mobile network and internet availability and signal strength, and proper functioning of hardware, software, your. Hence, the ebanking now becomes a virtual banking counter that the individual and corporate customer to carry out the regular activities. The objective of the study is to determine the impact of e banking on the operational efficiency of banks in nigeria. Ebanking introduction a sound and effective banking system is the backbone of an economy the economy of a country can function smoothly and without many hassles if the banking system backing it is not only flexible but also capable of meeting the new challenges posed by the technology and other external as well as internal factors. Perhaps a hypothetical deep may reveal that not up to 10% of nigerians would invest in. Marketing of banking services and consumer satisfaction in the nigerian banking industry adebowale biodun areo, ph. Uba is the best bank in nigeria and africas global bank. Impact of ebanking on the development of banking sector in. Ebanking definition of ebanking electronic banking, also known as electronic funds transfer eft, is simply the use of electronic means to transfer funds directly from one account to another, rather than by cheque or cash.
A number of studies have been carried out concerning electronic banking but none to the best of our knowledge focused on the relationship between electronic banking and liquidity of deposit money banks in nigeria. In its survey on the extent of ebanking adoption by nigerian banks, the central bank of nigeria cbn, in september 2002, found. It discovered that the increased application of e banking worldwide is a function of improvement in information and communications technology ict. Pdf the impact of ebanking on customer satisfaction in. Adelelouise carter abstract the internet and other electronic media have had a positive impact on the lives of individuals and businesses all over the world. However, one area of electroniccommerce that has proven successful in nigeria is electronic banking ebanking. Meaning of e banking e bank is the electronic bank that provides the financial service for the individual client by means of internet. This study investigates e banking and service delivery at ecobank nigeria in benue state.
The term electronic banking or ebanking covers both computer and telephone banking. Mitigation of security challenges in ebanking system in. The research also explained the services and the featu. It is simply the use of electronic and telecommunications network for delivering various banking products and services. The electronic banking and payments services of commercial banks are recognised by the central bank of nigeria cbn. Mitigation of security challenges in ebanking system in nigeria. Overview of electronic banking in nigeria international journal of. Problems and prospects abstract this research work is an attempt to analyse and find out the problem and prospects of eletronic banking in nigeria. The general purpose of the study is to examine the impact of e banking on the development of nigeria banking sector. To evaluate the prospects of e banking in nigerian banking environment. We may vary the types of electronic alerts available without notice to you. Electronic banking terms and conditions standard chartered.
Functions of e banking at present, the personal e bank system provides the following services. This work studied the relationship between electronic banking and the performance of nigerian commercial banks. Going by the ebanking revolution currently skyjacking banking operations in nigeria, it has become extremely imperative for the nigerian lawmakers to either amend the existing laws or promulgate a new law that will make adequate provision for ebanking business in nigeria. Going by the e banking revolution currently skyjacking banking operations in nigeria, it has become extremely imperative for the nigerian lawmakers to either amend the existing laws or promulgate a new law that will make adequate provision for e banking business in nigeria. Thus, online banking has the tendency to encourage multitasking which is a positive working variable. Since electronic banking started in all nigeria banks, it has been a woe for. E banking, service quality and customer satisfaction in selected nigerian banks 1hindu j. Ovia2003 posited that the hype of ecommerce, ebanking and eeverything is gradually being embraced by nigerian financial institutions who are poised to be in the vanguard of narrowing the digital divide. Pm, phd management faculty, consultant and corporate trainer acharya institute of management and sciences 1st cross, 1st stage, peenya industrial area, bangalore560 058 e mail. The guarantee trust bank gtbank is one of the nigerian strong commercial banks. Arising from the three major roles of the cbn in the areas of monetary policy, financial system stability and payments system oversight, the cbn. The research has been conducted on the impact of e banking on the operational efficiency of banks in nigeria, a case of diamond bank plc, bauchi branch, nigeria.
The importance, how to, effect causes relationship, comparison, history, role, solutions are discussed. Ebanking is a borderless entity permitting anytime, anywhere and anyhow banking. Ebanking has revolutionized the lives of all individuals of present times and is considered to be a wave of information revolution after the agricultural and industrial revolution. Issues and challenges article pdf available in research journal of finance and accounting 86 february 2017 with 11,834 reads how we measure reads. There are few innovations that have changed the dynamics of banking as much as the ebanking revolution. This is approved for students in accountancy business computer science economics engineering arts. This study is an overview of ebanking in the nigerian banking industry. Problems and prospects of electronic banking in nigeria. The research geared toward explaining what electronic banking is all about and when it was introduce into nigeria. Mitigation of security challenges in ebanking system in nigeria dr. It was established on 20 th july 1990 as a private limited company plc wholly owned by the nigerian citizens. Impact of ebanking on the development of banking sector in nigeria. Challenges of microfinance banking in nigeria1 nigerians, like many other africans are generally known as their brothers keepers in view of the extended family system. This study investigated exposure tousage of ebanking channels.
Examine the effect of ebanking products on service quality and. To examine the impact of e banking on the operations of financial institutions 4. Pdf overview of electronic banking in nigeria chris onodugo. Introduction e banking also known as internet banking, or virtual banking, is an electronic payment system that enables. This facilitates us with all the functions and many advantages as compared to traditional banking services. The adoption of information and communication technology in banking sector is generally referred to as electronic banking e banking and application of its concepts, techniques, policies, and implementation strategies to banking services has become. This study investigates ebanking and service delivery at ecobank nigeria in benue state. E banking, it also observed, holds enormous potentials for the banking industry in nigeria. Impact of ebanking on the development of banking sector. New security requirements for ebanking system, in business times, august 2531, p. At present the banks in bangladesh are using the limited.
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