According to report of technical committee on e banking cbn, 2003, e banking can be defined as a means whereby banking business is transacted. Project topics and materials for accounting and banking. 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. Regulatory impact on mobile money and financial inclusion. 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. Burr 1996 describes it as an electronic connection between the bank and. Electronic banking and bank performance in nigeria african. Nigeria do not embrace electronic banking early compared to developed countries. The research geared toward explaining what electronic. Electronic banking in nigeria problems and prospects abstract this research work is an attempt to analyse and find out the problem and prospects of eletronic banking in nigeria.
Thus, online banking has the tendency to encourage multitasking which is a positive working variable. Nigeria automated clearing system nacs nacs is used to describe the automated clearing system of the entire banking and financial industry for both electronic instruments ach and derivativesimages paperbased instruments cheques. 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. This study on the impact of e banking on commercial banking operations in cameroon. Hans banks internal documents that stipulate rules for cost allocation and limit cost. This study investigated the profitability performance of nigerian banks following the full adoption of electronic banking system. Impact of ebanking on the development of banking sector in nigeria. This study examined the relationship between electronic banking and liquidity of deposit money banks in nigeria, using time series data for the period 2006 2014. Electronic banking system in nigeria 2961 words bartleby.
The country is currently rated as having one of the highest records of internet. It may have a distributed, client server or three tier architecture based on a file. Dimensions of electronic fraud and governance of trust in. This is approved for students in accountancy, business, computer science, economics, engineering, arts. Electronic check conversion converts a paper check into an electronic payment in a store or when a company gets your check in the mail. Rising numbers of financial institutions are introducing and expanding their offerings of electronic banking products sciglimpaglia and ely, 2002. Apr 27, 2018 in the past few years, banking activities in nigeria have increasingly depended on the development of information and communication technology ict. Ebanking service delivery and customer satisfaction in. The administrator has superuser access to the application and oversees the creation and deletion. It also offers financial services and products that accelerate. Abank client can obta in the necessary information on dialing atelephone.
E banking platforms and the fact that there have been records of. This study investigated the influence of electronic banking products on performance of nigerian dmbs. The researcher general towards explaining what electronic banking is all about and when it was introduce into nigeria. The data was analyzed using both descriptive and correlation analysis to describe the data set and to identify the association. Introduction the objective of this study is to determine the impact of ebanking on banks profitability for the banking sector in jordan during period 20002009. Hitherto, the nigerian clearing system was manually operated and paper based, such that instruments took. Ebanking conceptual framework remote banking, considered representative for the new economy, consists of electronic transactions between customers and their bank. Electronic banking has been playing a major role in the economy of nigeria. The study was conducted in lagos, ogun and oyo states. Adoption of electronic banking service delivery is fast gaining ground in nigeria.
Case study uba bank cameroon sought out to examine the relationship between ebanking services and the profitability of the banking institution and to identify the. Electronic banking has many advantages and should be highly encouraged. User acceptability and payment problems in nigeria 1. Cbn news, august chartered bank of nigeria, usa mbam, b. The importance, effect, causes, relationship, comparison, history, role, solutions are discussed.
The research also explained the services and the featu. In the commercial world, especially in most advanced societies today, money is. Internet banking e banking is the use of internet and telecommunication networks to deliver a wide range of value added products and services to bank customers steven, 2002 through the use of a system that allows individuals to banking activitiperform es at home or. Problem and prospectsabstract this research work is an attempt to analyse and find out the problems and prospects of electronic banking in nigeria. When you give your check to a cashier in a store, the check is run through an electronic system that captures your banking information and the amount of the check. Wema bank plc fcmbonline corporate terms and conditions annexture a. The role of ebanking on operational efficiency of banks. This study investigated the extent of the adoption and usage of the mobile phone banking services among banking customers in nigeria and the associated problems.
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 e banking has produced a report, which anticipates the. Issues and challenges article pdf available in research journal of finance and accounting 86 february 2017 with 11,929 reads how we measure reads. Pdf overview of electronic banking in nigeria chris onodugo. Electronic banking using a telephone connection can be divided into phone banking ats, client advisor and mobile banking sms banking, gsm sim toolkit and wap. This ensures that our services are of high quality which is why we take pride in proclaiming for all to hear and read that all the research project topics you come across on this site have been vetted by expert researchers in banking and finance and accounting. Hours spent engaging in rigorous and stressful transaction processes at the bank can be saved and used for something meaningful and beneficial. Though some of the information is between the bankers and their customers, the researcher was able to b ing some of them out finally, the information contained in this project writing will educate some ignorant people, concerning how they can transact. Many researchers appreciate that electronic banking e banking is defined to include the provision of retail and small value banking products and services through electronic channels as well as large value electronic payments and other wholesale banking services delivered electronically georgescu, 2005. E banking, it also observed, holds enormous potentials for the banking industry in nigeria. Based on above the general objective of this work is to ascertain the impact of electronic banking instruments on the intermediation efficiency in nigeria, while its specific.
Electronic banking in nigeria saves the time of both the customer and the time of the banking officials. Today is banking environment is very dynamic and undergoes rapid changes as a result of innovations in. It discovered that the increased application of e banking worldwide is a function of improvement in information and communications technology ict. Have your paycheck deposited directly into your bank or. Problems and prospects of electronic banking in nigeria. Arising from the three major roles of the cbn in the areas.
The study also sought to identify the extent of use of mobile and internet banking in financial institutions. Electronic banking, performance, nigerian commercial banks, cointegration, pointofsale. Central bank of nigeria guidelines on electronic banking in nigeria preamble the cbn recognizes that electronic banking and payments services are still at the early stages of development in nigeria. Challenges of the regulatory authorities and the aw y forardw adewuyi, i. 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 money you spend in transporting yourself to the bank to perform a transaction can be. It further examines different regulations that have influenced the development of financial inclusion through the use of the mobile financial services in the 4 countries. Through the use of it, banks now employ different channels such as internet technology, video banking technology, telephone banking, automated teller machine, and wap technology to deliver their services. Business version online banking application form date ddmmyyyy section 1 business information please complete this section with information about your business account name name user type. The nigeria history ovia 2001 argued that electronic banking is a product of ecommerce in the field of banking and financial services.
This is a card issued to a customer a person who has a current account with the bank by a member bank of smart card nigeria limited to aid them. Electronic banking have long been recognized to play an important role in economic development on the basis of their. Electronic banking, more commonly known as ebanking, is the newest delivery channel for banking services. Case study uba bank cameroon sought out to examine the relationship between e banking services and the profitability of the banking institution and to identify the. 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.
Abor, 2004 before the introduction of electronic payment into the nigerian banking system, all customers had to walk into. The perception and use of electronic banking among. This study investigated ebanking fraud and the role trust governance plays in the adoption or refusal to migrate and use electronic banking in nigeria. Though, various e banking systems have been implemented and accepted by customer, epayment remains the most. Pdf on feb 11, 2017, sunday oseiweh ogbeide and others published. Overview of electronic banking in nigeria international journal of. History of ebanking in nigeria information in nigeria. The research also explained the services and the features of electronic banking in nigeria. Pdf on may 1, 2008, ikechukwu acha and others published electronic banking in nigeria. Problem and prospects includes abstract and chapter one, complete project material available electronic banking in nigeria.
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. The money you spend in transporting yourself to the bank to perform a transaction can be saved and used for other purposes. The introduction of electronic banking channels in nigeria has generally improved the satisfaction of customers. Simply put, electronic banking is the process by which a bank customer initiates banking transactions via electronic device without visiting the brickandmortar institution. Modeling external events for insurance and finance, new york.
This study adopted cross sectional research design using survey method as research strategy. Pdf this study investigates the effect of electronic banking on customer satisfaction in nigeria. Different ebanking channels such as electronic cards, internet banking and mobile banking services have been introduced. In service organization like banks, information flows more than physical items.
Internet banking practices and potentials in nigeria. Consumers could purchase goods and services from the internet and send unencrypted credit card numbers. Phone banking is the provision of banking services using aclassic telephone line. 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. Electronic banking offers benefits to both banks and customers. However, this system has some hitches that need to be removed. Assert that they have over the time, been using electronic and telecommunication networks for delivering a wide range of value added products and services, managers in banking industry in nigeria cannot ignore information systems because they play a critical impact in current banking system, they point out that the entire cash flow of most.
Although there are still challenges facing ebanking operation in nigeria such as. Ebanking platforms and the fact that there have been records of. This research promises to appraise the implication of electronic banking in nigerian banks since it has been seen as being a major player in the economy. Electronic fund transfer etf, internet banking, automated teller machine atm, telephone banking and personal computer banking are the major products of electronic banking in nigeria. A focus for the next millennium first bank of nigeria plc.
Downloading bank statements, for example in pdf format. Though, various ebanking systems have been implemented and accepted by. This study investigated e banking fraud and the role trust governance plays in the adoption or refusal to migrate and use electronic banking in nigeria. Ebanking services features, challenges and benefits 51 2. The population of the study is all the twentyone deposit money banks. The research geared toward explaining what electronic banking is all about and when it was introduce into nigeria. In what can be describe as businesstoconsumer b2c domain for balance enquiry, request for cheque books, recording stop payment instruction, balance transfer instruction, account. These guidelines supersede the previous standards and guidelines on atm operations in nigeria and guidelines on pos card acceptance services, issued by the cbn. Problems and prospects abstract this research work is an attempt to analyse and find out the problem and prospects of eletronic banking in nigeria. Electronic banking and profitability of commercial banks in.
The study became necessary as a result of increased penetration of electronic banking which has redefined the banking operations in nigeria and world over. The cbn recognizes that electronic banking and payments services are still at the early stages of development in nigeria. It refers to the use of information and communication technology by banks to provide services and manage customer relationship more quickly and most satisfactorily charitycommission, 2003. In the same vein but from bank growth perspective, abubakar 2014 discovered the existence of a significant. The arrival of the internet has taken electronic payments and transactions to an exponential growth level. Electronic banking, profitability, electronic financial services, internet, banks performance. The crux of this study is on the adoption of epayment system in nigeria.
This study on the impact of ebanking on commercial banking operations in cameroon. Get free research paper on economic impact of electronic banking on the banking sectordiamondproject topics and materials in nigeria. The bank is a financial institution setup purposely for safekeeping of money, valuable goods and documents like wills and gold. Electronic banking is now a global phenomenon and is now utilized by countries round the world and nigeria is not an exception. Pdf overview of electronic banking in nigeria chris. The emerging trend in internet banking in nigeria is of global concern. It highlights differences among the 4 countries and their financial regulatory environment. Problem and prospects abstract this research work is an attempt to analyse and find out the problems and prospects of electronic banking in nigeria. This study sought to determine the impact of mobile and internetbanking on performance of financial institutions in kenya where the survey was conducted on financial institutions in nairobi. The internet and other electronic media have had a positive impact on the lives of individuals and businesses all over the world. Research midas is focused solely on providing research solutions to accounting and banking and finance students only.
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