Journal of emerging trends in economics and management sciences, 1 1, 37 45. Online banking, also known as internet banking or web banking, is an electronic payment. Electronic payment, ecommerce, ebanking, digital money and infrastructure. Since the overcoming of barter in the history of mankind, trade usually involve the exchange of goods. Get free research paper on electronic bankingproject topics and materials in nigeria. Ebanking will be measured by the expenditure made on. Overview of electronic banking in nigeria international journal of. Electronic banking electronic banking means 24hour access to cash through an automated teller machine atm or direct deposit of paychecks into checking or savings accounts. Feb 05, 2015 the state of ebanking implementation in nigeria. Listing of nigerian electronic banking providers banks. Since electronic banking started in all nigeria banks, it has been a woe for civil servants. Journal of internet banking and commerce, december 2015, vol.
Click below to download forms to avail services from first bank of nigeria or please visit. It is of prime importance for banks to develop e banking systems, which are easy to use, secure, and private for their users 1. This implies that banks can take advantage of internet banking to provide services to customers. Financial inclusion has assumed increasing recognition across the globe among policy makers.
The main objective of the study is to examine relationship between e banking activities proxied by value of pos transactions and the performance of commercial banks in nigeria proxied by customers deposit. Advantages of electronic banking 1 fast and prompt. In particular, online banking ebanking is one of the it applications with the highest impact on the global economy in creating a new business environment in the sector. Impact of mobile banking on service delivery in the nigerian. The paper aim to examine the impact of mobile banking on service delivery in the nigerian commercial banks. Apart from contributing to the knowledge of electronic banking, it forms a reference for future research in this area. The nigerian banking system is one of the significant sectors contributing to the growth of nigerias economy.
Origin of ebanking in nigeria the structural adjustment programme sap initiated in 1986 by the babangida administration brought to an end the kind of banking services rendered by the first generation of banks, which have been described as arm chair banking. However, because transactions are initiated via cards and codes atm card and pin, the internet, and phones, the possibility of selling a customer another service that they need, promoting a banks good image, and enhancing customer loyalty is hindered. Ebanking the guardian nigeria news nigeria and world news. Consequently, the study examined the impact of electronic banking on banks performance 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. A case study on noninterest bank vrajlal sapovadia introduction. It easily comes to mind that the introduction of ebanking by the central bank of nigeria cbn has seen a. Arising from the three major roles of the cbn in the areas of monetary policy, financial system stability and payments system oversight, the cbn. An empirical assessment of the operational efficiency of electronic. 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. Although there are still challenges facing ebanking operation in nigeria such as. Electronic banking, use of computers and telecommunications to enable banking transactions to be done by telephone or computer rather than through human interaction. Therefore, the aim of this study is to examine the impact of ebanking on the performance of the banking sector in nigeria. It examined the practice of e banking since its inception in nigeria in order to. Nigeria is moving towards a cashless economy in january 2012, the central bank of nigeria cbn introduced the cashless policy, which has three primary objectives. It discovered that the increased application of e banking worldwide is a function of improvement in information and communications technology ict.
A survey was conducted in september 2002 to determine the level and types of e banking activities carried out by banks. Development of electronic banking tools is one of the important aspects of banking innovation in order to create facility in different methods of money transfer. This is coming on the back of a global recognition that the future of banking and attracting a huge market. 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. To connect the client to the internet banking system it is enough to have access. Today, there are various forms of ebanking used in nigeria. This is approved for students in accountancy business computer science economics engineering arts. Nevertheless, some banks are more exposed than others with first bankone of nigerias largesthaving a npl ratio of over 20% in march 2016. Nigeria, ewubare and tuaneh 2016 reveal that e banking has impacted greatly on the financial efficiency of the nigerian economy.
The central bank of nigeria cbn recognizes that electronic banking and payments services are still at the cradle stages of development in nigeria. Impact of ebanking on the development of banking sector in nigeria. Ebanking was employed as one of these strategies, as commercial banks became better informed of the importance of electronic banking in nigeria. The importance, effect, causes, relationship, comparison, history, role, solutions are discussed. The development and modernisation of nigerias payment systems to drive economic growth ii. Banks are enabling the customers to conduct some banking services such as account inquiry and funds transfer. Factors influencing banks implementation and consumers. Problems and prospectsks in nigeria 30 words 6 pages. History of ebanking in nigeria information guide in nigeria. But electronic banking involves many different types of transactions, rights, responsibilities and sometimes, fees.
Issues and challenges article pdf available in research journal of finance and accounting 86 february 2017 with 11,929 reads how we measure reads. In july the management team of a smaller bank, skye, were replaced by the cbn because of concerns over corporate governance. Thus, the banks domestic or foreign are investing more on providing the customers with the new technologies through e banking. Go to account option which is located at the top left of the page, click on it and scroll down to forms. An overview of the ebanking and epayments landscape in nigeria. 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. In recent years, e commerce has more and more become a necessary factor of business strategy and a strong shock for economic development. This is approved for students in accountancy, business, computer science, economics, engineering, arts. Impact of electronic banking on the nigerian banking system. Its features include electronic funds transfer for retail purchases, automatic teller machines atms, and automatic payroll deposits and bill payments. 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 required them to engage in travels that. The money you spend in transporting yourself to the bank to perform a transaction can be saved and used for other purposes.
Technology incident report, compiled from suspicious activity reports banks file quarterly, lists 536. In nigeria, the economy faltered and was hit by the second round effect of the crisis as the stock market collapsed by 70 per cent in 20082009 and many nigerian banks sustained huge losses, particularly as a result of their exposure to the capital market and downstream oil and gas sector. Pdf overview of electronic banking in nigeria chris. Apr 27, 2018 in the past few years, banking activities in nigeria have increasingly depended on the development of information and communication technology ict. Also all access to the system should be logged automatically to a control file and. 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. 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 required them to engage in travels that may take hours or days. The nigerian banking system had operated perfectly on the manual banking system where the banking activity is done. Here, banking services are fully automated such that transactions are concluded in a jiffy.
The study revealed that the practice of ebanking in nigeria is significantly related. E banking is a kind of banking that involves electronic form of money transmission. He further states that, e banking involves the use of computer network in dispensing cash and transfer of funds. Problems and prospects of electronic banking in nigeria. Ebanking and commercial bank performance in nigeria. The survey showed that 17 banks were offering internet banking, 24 were offering basic telephone banking, 7 had atm services, while of the banks indicated that they were offering other forms of e banking. Feb 05, 2015 european journal of business and management issn 22221905 paper issn 22222839 online vol. Networks used for transmission of financial data must be demonstrated to meet the requirements specified for data confidentiality, integrity and nonrepudiation. This study seeks therefore to empirically address the implications of electronic banking instruments on the intermediation efficiency the ratio of currency outside bank to broad money supply of the nigerian economy 20062011. Agboola 2 006 re v ealed that ebanking is s till at the infant leve l in ni ger ia w it h most o f the banks ha v i ng m ain ly i nformation sites and. History of ebanking in nigeria information in nigeria.
Problems and techniques, data resources, sample selection, and the profile of a typical observation, estimates for the inputoutput model from a sample of commercial banks, estimates for the inputoutput model from a sample of mutual savings banks, on. The aforementioned cover basically the scope of electronic banking in nigeria. Scholars journal of economics, business and management eissn. The impact of online banking on the performance of nigerian. Over the years, it has achieved tremendous growth in structure and activities. In the past few years, banking activities in nigeria have increasingly depended on the development of information and communication technology ict. Ebanking is a remote banking technology that gives the ability to receive banking services via the internet 3. A few years ago, the central bank of nigeria gave a directive to all nigerian banks to raise their capital base from 1 billion naira to at least 25 billion naira by 31 st december 2005. Atm, mobile banking, electronic bill payment, pos and electronic cheque echeque. The role of ebanking on operational efficiency of banks in. This significant relationship existing between the practice of e banking and operational efficiency of nigerian banks was also. Zotero, a product of the centre for history and new media 2009, is a research. 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. 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 achievements of cbns core objectives toward electronic banking and payment.
Pdf overview of electronic banking in nigeria chris onodugo. It is the standard protocol for carrying files from. The various challenges facing the nigerian banks include but are not limited to. The researcher general towards explaining what electronic banking is all about and when it was introduce into nigeria. Abstract this study assessed the operational efficiency of electronic banking in nigeria with a focus on the twentyone commercial banks listed on the nigerian stock exchange at the end of year 2010. Models of bank portfolio behavior, estimation of the models. However they made use of quarterly time series data of 20082011.
Atms are the most popular electronic delivery channel for ebanking services. National bank of nigerian limited, which was to make history by being the first. Get free research paper on the role of electronic banking e banking in the development of financial institutions in nigeria. Specifically, the study strives to achieve the following objectives. Pdf on may 1, 2008, ikechukwu acha and others published electronic banking in nigeria.
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