THE EFFECT OF INFORMATION COMMUNICATION TECHNOLOGY (ICT) ON DEPOSIT MOBILIZATION AND PROFITABILITY
This research work focuses on the Effect of Information Communication Technology (ICT) on deposit mobilization and profitability of banks in Nigeria. It also revealed how computer technology is being used in taking strategic decisions in an organization, with the usage of computer technology. It helps to discover how efficiently and effectively the bank(s) are performing as regards deposit mobilization and trend(s) in profitability. Some research instrument(s) were used in this continuous writing were: Interview, Questionnaire and Observations which were illustrated with charts and (Chi-square). It starts with background of the study up to final recommendation to the higher Authority.
1.1 BACKGROUND OF THE STUDY
The effect of information communication technology (ICT) in banks deposit mobilization and profitability in Nigeria cannot be underrated, the technology advancement has brought the introduction of computer system into the recent banking operations.
The introduction of computer and communication technology in the banking industry has been greatly facilitated by the level of awareness on the part of both management and staff in the industry. Banks have geared up human and financial technology to ensure that information communication technology is used to improve their performance, cater for new customers segments and developed the market.
The basic objective of the application of information communication technology, in any organization is the achievement of a radical improvement or quantum leap in its business operations. This will involve redesigning the existing resources with the expected outcomes of the organizational process. To achieve these objectives, an effective and efficient information processing technology (computer) and information transmission technology (communication) as a strategic response.
The American heritage Dictionary of the English Language defined a computer as “a device or electronic machine that performs high spread mathematical or logical calculation or that assembles, stores, collect or otherwise process and print information device from coded data in accordance with a predetermined program.
Furthermore, a computer is a highly complex electronic device that handle enormous masses of data at unimaginable speed and perform in second’s calculation that trained mathematical would take years to complete. It can be seem as electrical device that accept DATA from an input device, performs arithmetical and logical operation in accordance with pure-defined instruction and translate the processing or in final printing from such as business documents, schedules and management reports.
There are two types of computer, namely, the digital and analog computer and uses computer language such a (FORTRAN, COBOL BASIC, ALGOL) into a machine language modules or object programs.