+234 813 0686 500
+234 809 3423 853
info@grossarchive.com

THE IMPACT OF ELECTRONIC BANKING IN NIGERIA (CRITICAL APPRAISAL OF UNITY BANK PLC)

  • Type:Project
  • Pages:1
  • Format:Microsoft Word
(Accounting Project Topics & Materials)
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Electronic banking uses computer and electronic technology in places of checks and other paper transactions. Electronic banking are initiated through devices like cards or codes that let you or those you authorize have access to your account. Many financial institutions use Automated Teller Machine (ATM) or debit cards and Personal Identification Numbers (PINs) for this purpose. Some uses other types of debit cards that require one’s signature or a scan. For instance, some use Radio Frequency Identification (RFID) or other forms of contactless technology that scan one’s information without direct contact with the person. The federal Electronic Fund Transfer Act (EFTACT) covers some electronic consumer transactions, these include:
Automated Teller Machine (ATM), Direct Deposit, Pay – by – Phone System, Personal Computer Banking, Debit Card Purchase or Payment transaction, Electronic check conversion and some others.
Before the introduction of electronic payment or banking system, all customers had to walk into the actual bank to do transactions of all kinds. Customers had to queue up and spend more hours to talk to a teller to make their transactions. The inconveniences caused by these long queues can discourage someone to make payment. For many years, Banker’s technology specialists, entrepreneurs, and others have advocated for the replacement of physical cash and the introduction of more flexible, efficient and cost – effective retail payment solutions. Countless conferences and seminars have been held to discuss the concepts of cashless and chequeless society. Electronic retail payment has been designed to help individual customers and companies as well as the banks itself in eliminating or reducing some of the problems inherent in the settlement and payment process. Customers can pay their bills without having to actually move to the bank premises. They can also have access to their accounts and even transfer money to other accounts in the comfort of their homes. Nigerian banks are making huge investment in technology to upgrade their infrastructure in order to provide new electronic information – based services. Electronic services such as online retail banking are making it possible for individual and small institutions to take advantage of new technologies at quite reasonable cost.
Banks of the future realises that the banking of tomorrow requires more of electronic manipulation and shuffling of bits – based money and other banking transactions instead of paper. In other words, paper based transactions are now being replaced by electronic based transactions. Whether a bank will be successful or not depends on the extent to which it is investing in Information Technology (IT) and using it in an innovative manner. This area has been tip to be a major competitive ground for banks that are operating in the post consolidation era
What are major issues needed to be mastered by Nigerian Banks in order to compete with the rest of the world?
What are the major developments and challenges in the Nigerian operating environment that are affecting the growth of electronic banking in Nigeria? These are some of the questions that would be addressed in the course of this study.
Despite all these things, it is not surprising that in the application of Electronic Banking in Nigeria, the financial institution have to face its problems. Communication over the internet are not secure and often congested. The financial institutions would also have to contend with other internet challenges including security, quality of service and some abbreviations in electronic finance. Besides, the existing business environment also possess some challenges to the smooth operations of Electronic Banking in Nigeria. Some of these operational challenges include epileptic power supply, dominance of cash transaction in the economy, low level of awareness among Nigerians and so on. The thirst of this research work shall also be to examine the trend of electronic banking in Nigeria and a critically examination of challenges noted above.




TABLE OF CONTENT

CHAPTER ONE
INTRODUCTION

CHAPTER TWO 
LITERATURE REVIEW


CHAPTER THREE 
RESEARCH METHODOLOGY
 

CHAPTER FOUR
RESULTS AND DISCUSSION

CHAPTER FIVE 
SUMMARY OF FINDINGS AND RECOMMENDATIONS

References

THE IMPACT OF ELECTRONIC BANKING IN NIGERIA (CRITICAL APPRAISAL OF UNITY BANK PLC)

Share This

Details

Type Project
Department Accounting
Project ID ACC2277
Price ₦3,000 ($9)
No of Pages 1 Pages
Format Microsoft Word

500
Leave a comment...

    Details

    Type Project
    Department Accounting
    Project ID ACC2277
    Price ₦3,000 ($9)
    No of Pages 1 Pages
    Format Microsoft Word

    Related Works

    CHAPTER ONE 1.0 INTRODUCTION 1.1 BACKGROUND OF THE STUDY Electronic banking uses computer and electronic technology in places of checks and other paper transactions. Electronic banking are initiated through devices like cards or codes that let you or those you authorize have access to your account. Many financial institutions use Automated Teller... Continue Reading
    ABSTRACT Electronic banking system has become an important practice among commercial banks in Nigeria. The introduction of this electronic banking has improve banking efficiency in rendering services to customer, It was in line with this that the study aim at examine the impact of electronic banking system in Nigeria. Through the cluster sampling... Continue Reading
    THE IMPACT OF ELECTRONIC IN NIGERIA BANKING SYSTEM (CRITICAL APPRAISAL UNITY BANK PLC) ABSTRACT Electronic Banking System has become an important practice among commercial banks in Nigeria. The introduction of the electronic banking has improve banking efficiency in rendering services to customer, it was inline with this that the study am at... Continue Reading
    ABSTRACT  Electronic banking is simply operating the banking system through the internet and it signifies both global public network and a family of technologies. In Nigeria, the banking industries are basically on-line at real time with web site which is restricted only to... Continue Reading
    ABSTRACT Electronic banking is simply operating the banking system through the internet and it signifies both global public network and a family of technologies. In Nigeria, the banking industries are basically on-line at real time with web site which is restricted only to information and also it restricts most of their dealings to E-banking via... Continue Reading
    Electronic banking have long been recognized to play an important role in economic development on the basis of their ability to create liquidity in the economy through financial intermediation between savers and borrowers. It also offers financial... Continue Reading
    AN APPRAISAL OF THE IMPLICATION OF ELECTRONIC BANKING NIGERIA BANKS (A CASE STUDY OF DIAMOND BANK) Electronic banking have long been recognized to play an important role in economic development on the basis of their ability to create liquidity in the economy through financial intermediation between savers and borrowers. It also offers financial... Continue Reading
    TABLE OF CONTENTS CHAPTER ONE 1.1 BACKGROUND OF THE STUDY 1.2 STATEMENT OF PROBLEMS 1.3 OBJECTIVES OF THE STUDY 1.4 RESEARCH QUESTION 1.5 SIGNIFICANCE OF THE STUDY 1.6 SCOPE OF STUDY 1.7 LIMITATION OF STUDY CHAPTER TWO LITERATURE REVIEW 2.1 INTRODUCTION 2.2 ELECTRONIC BANKING 2.3 TYPE OF ELECTRONIC BANKING 2.4 THE PROBLEMS AND SOLUTIONS ASSOCIATED... Continue Reading
    INTRODUCTION 1.1 BACKGROUND OF THE STUDY Prior to the banking emergence of a modern banking system in Nigeria, the payment or settlement of economic transaction was through the barter system. Goods and services purchased them were settled by the exchange of commodities as money was not in existence. However, owing to the deficiencies inherent or... Continue Reading
    IN ZENITH BANK NIGERIA PLC, KANO   ABSTRACT Electronic banking is simply operating the banking system through the internet and it signifies both global public network and a family of technologies. In Nigeria, the banking industries are basically on-line at real time with web site which is restricted... Continue Reading