Project Abstract

Project Overview

<p> <b></b></p><p><b><b>1.0 &nbsp; &nbsp; &nbsp;</b><b>INTRODUCTION</b></b></p><p><b><b></b></b></p><b><b><p><b>1.1 &nbsp; BACKGROUND<br>OF STUDY</b></p><p><b></b></p><b><p>Today’s<br>business environment is very dynamic and undergoes rapid changes as a result of<br>technological innovation, increased awareness and demands from customers.<br>Business organizations, especially the banking industry of the 21st century<br>operates in a complex and competitive environment characterized by these<br>changing conditions and highly unpredictable economic climate. Information and<br>Communication Technology (ICT) is at the centre of this global change curve.</p><p>Laudon<br>and Laudon, (2001) contend that managers cannot ignore Information Systems<br>because they play a critical role in contemporary organisation. They point out<br>that the entire cash flow of most fortune 500 companies is linked to<br>Information System. The application of information and communication technology<br>concepts, techniques, policies and implementation strategies to banking<br>services has become a subject of fundamental importance and concerns to all<br>banks and indeed a prerequisite for local and global competitiveness. ICT<br>directly affects how managers decide, how they plan and what products and<br>services are offered in the banking industry. It has continued to change the<br>way banks and their corporate relationships are organized worldwide and the<br>variety of innovative devices available to enhance the speed and quality of<br>service delivery.</p><p>Harold<br>and Jeff (2005) contend that financial service providers should modify their<br>traditional operating practices to remain viable in the 2000s and the decades<br>that follow. They claim that the most significant shortcoming in the banking<br>industry today is a wide spread failure on the part of senior management in<br>banks to grasp the importance of technology and incorporate it into their<br>strategic plans accordingly.</p><p>Woherem<br>(2000) claimed that only banks that overhaul the whole of their payment and<br>delivery systems and apply ICT to their operations are likely to survive and<br>prosper in the new millennium. He advices banks to re-examine their service and<br>delivery systems in order to properly position them within the framework of the<br>dictates of the dynamism of information and communication technology. The<br>banking industry in Nigeria has witnessed tremendous changes linked with the<br>developments in ICT over the years. The quest for survival, global relevance,<br>maintenance of existing market share and sustainable development has made<br>exploitation of the many advantages of ICT through the use of automated devices<br>imperative in the industry.</p><p>It is globally belief that the computers are able<br>to provide useful information if properly fed with a reasonable input or it<br>will result in “Garbage in Garbage out”. The use of computer to carry out a very wide<br>range of activities for work, study and leisure has become part of our everyday<br>life. It is no longer something that you may want to use if you are interested;<br>rather like motor car it is an essential part of our lives. We are constantly<br>told that anyone can use a computer, and to some extent this is true. As we<br>became more and more upon technology this will not be enough. Computer in<br>commercial and industrial settings have been around for several decades,<br>nothing new about that. What is new however is the availability of computing<br>power at modest cost to managers and workers throughout business organization<br>and banking industries?</p><p>However, in the banking industry computer has<br>been used in various areas carrying out their day-to day activities. Thanks for<br>the introduction of micro computers, the power to retrieve and process data no<br>longer belongs exclusively to computer specialist.<b></b></p><b><p><b></b></p><b><p><b>1.2 &nbsp; STATEMENT<br>OF THE PROBLEM</b></p><p><b></b></p><b><p>The computer has for many years been used for financial planning<br>in Nigeria banks. Information is required to complete every step involved<br>in planning both objective definition and target decision, forecasting,<br>calculating planning gaps definition constraints and means<br>and so lack of computer may result to inability to satisfy costumers which<br>might lead to retrenchment of customers. Lack of competent personnel may also<br>be another challenge the banking sector might be facing. For any banking<br>sector, the all ICT personnel must extremely b qualified to achieve maximum<br>customer’s satisfaction. Finally, several researches have been carried out<br>impact of computerization in the banking industry, but not even a single<br>research has been carried out on the impact of computerization in banking<br>sector.</p><p><b>1.3 &nbsp; AIMS<br>AND OBJECTIVES OF STUDY</b></p><p><b></b></p><b><p>The<br>main aim of the study is to determine the impact of computerization in banking<br>sector. Other specific objectives of the study include:</p><p>1. &nbsp; &nbsp; &nbsp; &nbsp; <br>to determine the effect of<br>computerization in the banking sector of Nigeria.</p><p>2. &nbsp; &nbsp; &nbsp; &nbsp; <br>to determine the extent to which<br>computerization affects the banking services.</p><p>3. &nbsp; &nbsp; &nbsp; &nbsp; <br>to determine the effect of<br>computerized banking towards future development in the banking industry with an<br>eye in the direction of improving its competitive position.</p><p>4. &nbsp; &nbsp; &nbsp; &nbsp; <br>to determine the factors affecting<br>computerization in banking sector in Nigeria.</p><p>5. &nbsp; &nbsp; &nbsp; &nbsp; <br>to proffer possible solution to the<br>problems.</p><p><b>1.4 &nbsp; RESEARCH<br>QUESTIONS</b></p><p><b></b></p><b><p>1. &nbsp; &nbsp; &nbsp; &nbsp; <br>What is the effect of computerization in<br>the banking sector of Nigeria?</p><p>2. &nbsp; &nbsp; &nbsp; &nbsp; <br>What is the extent to which<br>computerization affects banking services in Nigeria?</p><p>3. &nbsp; &nbsp; &nbsp; &nbsp; <br>What is the effect of<br>computerized banking towards future development in the banking industry with an<br>eye in the direction of improving its competitive position?</p><p>4. &nbsp; &nbsp; &nbsp; &nbsp; <br>What is the factors affecting<br>computerization in the banking sector in Nigeria?</p><p>5. &nbsp; &nbsp; &nbsp; &nbsp; <br>What is the possible solution to the<br>problems?</p><p><b>1.5 &nbsp; STATEMENT<br>OF RESEARCH HYPOTHESIS</b></p><p><b></b></p><b><p>H0: &nbsp; Computerisation has no significant effect on the performance of<br>the banking sector of Nigeria.</p><p>H1: &nbsp; &nbsp; Computerisation<br>has a significant effect on the performance of the banking sector of Nigeria.<b></b></p><b><p><b></b></p><b><p><b>1.6 &nbsp; SIGNIFICANCE<br>OF STUDY</b></p><p><b></b></p><b><p>The<br>study on the impact of computerisation in the banking sector will be of immense<br>benefit to the united bank for Africa in the sense that it will help to identify the drawback and also solve the Nigeria<br>errors in supplying rightful information concerning banking service. Depositors<br>will also benefit from it, in that<br>they will certainly know that computerized banks will not waste much of his her<br>time like manual operated banks. Finally, the study will<br>contribute to the body of existing literature and knowledge in this field of<br>study and provide the basis for further research. &nbsp;</p><p><b>1.7 &nbsp; SCOPE<br>OF STUDY</b></p><p><b></b></p><b><p>The<br>study on the impact of computerisation in banking sector is limited to commercial<br>bank in Abuja, UBA.</p><p><b>1.8 &nbsp; LIMITATION<br>OF STUDY</b></p><p><b></b></p><b><p><b>Financial constraint</b>–<br>Insufficient fund tends to impede the efficiency of the researcher in sourcing<br>for the relevant materials, literature or information and in the process of<br>data collection (internet, questionnaire and interview).<b></b></p><b><p><b></b></p><b><p><b>Time constraint</b>–<br>The researcher will simultaneously engage in this study with other academic<br>work. This consequently will cut down on the time devoted for the research<br>work.<b></b></p><b><p><b></b></p><b><p><b>1.9 &nbsp; DEFINITION<br>OF TERMS</b></p><p><b></b></p><b><p><b>Impact</b>The action of one<br>object coming forcibly into contact with another.<b></b></p><b><p><b></b></p><b><p><b>Computerisation</b>Involves the process<br>of taking activities or tasks not previously done on the computer and shifting<br>them to being done on the computer.<b></b></p><b><p><b></b></p><b><p><b>Banking Sector &nbsp; &nbsp; &nbsp; </b>Is the section of the economy devoted to the holding<br>of financial assets for others, investing those financial assets as leverage to<br>create more wealth and the regulation of those activities by government<br>agencies.</p></b></b></b></b></b></b></b></b></b></b></b></b></b></b></b></b></b></b></b></b></b></b></b> <br><p></p>