ABSTRACT
The central focus of this research is to examine how the economy will be affected positively on the implication of electronic banking. this work will be discussed based on five chapters, chapter one will focus on the Background of the study, objective of the study, significance of the study, research questions, statement of the problem, scope of the study, definition of terms and brief history of your case study. Chapter two will consider the review of other scholars and authors on the subject matter, and other scholars and issues in foreign exchange. Chapter three will focus on the research methodology and research design, while presentation and analysis of data will be under chapter four. Chapter five will contain the summary, conclusion, recommendation and limitation. Based on the objective of the study the findings reveal that the role of economy will be improved if electronic banking implemented.
TABLE OF CONTENT
Title page ………………………………………………………………i
Approval…………………………………………………………………ii
Dedication………………………………………………………………iii
Acknowledgements……………………………………………………iv
Table of contents…………………………………………………….…v
Abstract………………………………………………………………….Vi
Chapter One
Introduction
- Introduction
- Background of the Study
- Statement of the Problem
- Purpose or Objective of the Study
- Significance of the Study
- Scope of the Study
- Research Questions
- Definition of Terms
- Brief History of Your Case Study
CHAPTER TWO
LITERATURE REVIEW
- Introduction
2.1.2 Electronic Banking
2.1.3 Type of Electronic Banking
2.1.4 The Development of Electronic Banking in Nigeria
2.1.5 Negative Impact of Electronic Banking in Nigerian
2.1.6 Positive Impact of Electronic Banking in Nigerian
CHAPTER THREE
RESECARCH METHODOLOGY
- Introduction
- Research
- Area of Study
- Sample and Sampling Techniques
- Instrument of Data Collection
- Method of Data Collection
- Primary Source
- Secondary Source
- Method of Data Analysis
CHAPTER FOUR
DATA PRESENTATION INTERPTRETATION AND ANALYSIS
- Introduction
- Data Presentation
- Data Interpretation And Analysis
- Test of Research Questions.
- Discussion of Findings.
CHAPTER FIVE
SUMMARY OF FINDINDS, CONCLUSION, RECOMMENDATIONS AND LIMITATION
5.1 Summary of Research findings.
5.2 Research Conclusion
5.3 Recommendations
5.4 limitations of the Study.
CHAPTER ONE
- BACKGROUND OF THE STUDY
Before the emergence of modern banking system, banking operation was manually done which lead to a slowdown in settlement of transactions from one ledger to another which human handles. Figures or counting of money which should be done through computers or electronic machine were computed and counted manually which were not 100% accurate and thereby resulting to human errors . Most bank the use only one computer in carrying out transactions which ameliorate the sluggish nature of banking transaction.
Nigeria does not embrace electronic banking early compared to developed countries. Nigeria adopted electronic banking system in the early 2000s. During the introduction of electronic banking system, the use of raw cash was said to have bred corruption through the “cash and lamy syndrome” usually linked with swift movement of Ghana- must go” bags by some politicians. Such bags as some analyst say, are a major source of corrupt practices as dubious persons seeks to bribe their way to avoid being checked in some sensitive areas or places I a corrupt society.
Since electronic banking started in all Nigerian banks, it has been a woe for civil servants, checks show that some staff in establishment such as the national boundary commission for instance, are yet to receive their salaries for the previous moths as efforts to electrically transfer salaries into account have failed according to Ibrahim, (2009).
“One banks will tell you it has transferred your salaries but the supposed recipient bank will tell you it has not received anything leaving you even mlookingore confused”, says John,1.(2009). Olekah, J.(2009) while the acknowledging the initial hiccups that dogged the system, advises stakeholders against being discouraged as such “ teething problems are normal.
James, (2009) a banker reported to vanguard annual report that “we should not destroy electronic banking by looking at the negative aspect, we must strive towards perfecting it, James, A. (2009) also says that the volume of data generated by the government ministry Agencies is much making it a bit difficult for bank to cope. Mathew S. (2009) a worker says in his report to vanguard annual report on banks and cards that government should have done its done its home work “very well” before introducing the system, “they plugged us unto a system they were not prepared for and the result is untold hardship visited on innocent people”.
At this junction, is good to know what e-banking is all about.
According to Anyawaokoro, (1999).
Electronic banking is defined as the application of computer technology to banking especially the payment (deposit transfer) aspect of banking. He also defined electronic banking as a system of banking with an electronic communication network which permit on-line processing of the same day credit and debit transfers of funds between member institution of a clearing system.
According to Clive, (2007) in his academic dictionary of banking, electronic banking is defined as a form of banking in which fund are transferred through an exchange of electronic signals between financial institutions, rather than an exchange of cash, Cheques or other negotiable instrument.
According to Omotayo, (2007) in his research defines electronic banking as a system in which fund are move between different accounts using computerized on line/real time system without the of writing cheques.
According to Edith, (2008) in international Journal of investment and finance, electronic banking is defined as a system by which transaction are settled electronically with the use of electronic gadgets such as ATMS, POS terminal, GSM phones, and V-cards e.t.c handle by e-holders, bank customer, and stake holders.
1.2 STATEMENT OF PROBLEMS
As earlier point out, there is delay in payment of cheques which lead to the adoption of electronic banking system. Adoption of electronic banking which suppose to ease banking transactions rather results to woes to customer. Most people complain of time wasted in bank. This occurs when there is power failure in banks resulting to slow down in operation.
Information backup to fall back on should there be any computer break down. In investing in electronic banking, the country will need a large amount of financial resource in computer technology, obviously, the resource is in short supply in Nigeria, couple with high level of poverty. For an efficient functioning of electronic payment system, there must be availability of infrastructure facilities such as electricity and telecommunication network, however, power supply fluctuates and there is still constant failure link in network. Since early 2000s bank have been developing and introducing payment cards for their customer as well as deploy ATM’S card. Usage was however low due to lack of interconnectivity i.e switching platform to interconnect the ATM’S for card holders.
- OBJECTIVE OF THE STUDY
This research work intends to assess the extent of electronic payment in banking activities as well as identify the various types of electronic banking. The researcher will also evaluate the major problems associated with the development of electronic banking system in Nigeria as well as evaluate possible solutions to those problems.
The effect of electronic banking on profitability of banks will also be assessed. There are different type of electronic banking used in Nigeria banks; the researcher will like to evaluate the impact of these e- payment systems on banking industry and also assess the impact of electronic banking in Nigeria economy.
- SIGNIFICANCE OF THE STUDY
Electronic banking in our economy today is a welcome development and also its impacts in the society are over-whelming, so this research is significant in so many ways.
It will expose the strength and weakness of electronic banking
It will motivate banks and other economic agents to computerize their services.
Knowledge in the area of electronic banking will be advanced.
- SCOPE OF STUDY
This research is on electronic implication of electronic banking I Nigeria bank and also the various forms of payment and electronic system used by banks. The research will base this work on the entire deposit money banks in Nigeria but to Diamond Bank in particular.
Time is a major for to the research as research of this land requires enough time in gathering of data but it was not giver to carry out the research, distribution collection and analysis of questionnaire.
Also the school system has made it difficult for students to go out in search for information by not granting exact for students. Some banks hud information from students who desires such information in other to maintain the banks secrecy thereby making it difficult for students to gather information for their research.
Finally, finance was infect the most limited factor, in spite of this researcher have to travel out to the sampled organization to interview some to the managers and supervisors.
- RESEARCH QUESTION.
In order to get information from respondents the following question where formulated.
What are the various types of electronic payment and the extent of electronic payment in banking activities?
In what extent can e-banking improve or enhance banking services?
What are the major problems associated with the development of electronic banking system in Nigerian?
What are the solutions to the problems associated with the development of e- banking?
What extent has e- payment affected banking activities?
The research shall attempt to find answers to this question in the next chapter.
- DEFINITION OF TERMS
APPRAISAL: This is defined as the impartial analysis and evaluation according to established criteria to determine the acceptability or worth of an item.
IMPLICATION: It simply means something that is suggested or happens, indirectly.
ECONOMIC: this means the study of how people choose to use resources. Resources include the time and knowledge of how to combine them to create useful product and service.
ELECTRONIC BANKING: Is defined as the use of computer to carryout banking transaction such as withdrawal through cash dispensers or transfer of funds at point of sale.
BANK: Means an organization or a place that provides a financial service.
- HISTORY OF DIAMOND BANK.
Diamond Banks PLC began as private limited liability company on March 21, 1990). Ten years later, in February 2001, it became a universal; bank.
In January 2005, following a highly successful private placement share offer which substantially raised the banks equity base, Diamond Bank became a public limited company. In may (2005), the bank was listed on the Nigerian stock Exchange. Moreover, in January 2008, Diamond Bank’s Global Depositary Receipts (GDR) was listed on the professional securities market of the London stock Exchange. The first Bart in Africa to record that feat.
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