The Effect of Information Technology on the Operation of Commercial Banks in Nigeria
CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE PROBLEM:
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 key to efficient banking lies in maximizing the use of information technology. The brave new path of tomorrow’s banking will be on the electronic highway where customer are not limited to dealing with just one deposit money bank. In Nigeria today, the challenges of information technology coupled with the present competitive environment has made deposit money bank to computerise their operations at an alarming rate .Empirical evidence suggests that even though information technology has significantly enhanced the speed with which deposit money banks provide services ,generally its effectiveness is still limited by human factors such as lack of maintenance of the system to put them (the computers) on the high speed and inadequate training of deposit money banks personnel‘s on the proper use of information technology.
These constraints makes them not to be fast on the use of information technology and rendering of efficient and effective bank services to their customers. Similarly, incidence of deposit money bank frauds has not significantly reduced with information technology.
This is because the level of control particularly organisational control of the computer system is still grossly inadequate. The effect of information technology on the operations of deposit money banks will be a replacement of manual labour operation and time wastage of customer, at the end
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 key to efficient banking lies in maximizing the use of information technology. The brave new path of tomorrow’s banking will be on the electronic highway where customer are not limited to dealing with just one deposit money bank. In Nigeria today, the challenges of information technology coupled with the present competitive environment has made deposit money bank to computerise their operations at an alarming rate .Empirical evidence suggests that even though information technology has significantly enhanced the speed with which deposit money banks provide services ,generally its effectiveness is still limited by human factors such as lack of maintenance of the system to put them (the computers) on the high speed and inadequate training of deposit money banks personnel‘s on the proper use of information technology.
These constraints makes them not to be fast on the use of information technology and rendering of efficient and effective bank services to their customers. Similarly, incidence of deposit money bank frauds has not significantly reduced with information technology.
This is because the level of control particularly organisational control of the computer system is still grossly inadequate. The effect of information technology on the operations of deposit money banks will be a replacement of manual labour operation and time wastage of customer, at the end