NATURE OF BANKING SERVICES IN NIGERIA. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
ABSTRACT
This is a research into the nature of banking services to find out the reason and suggest toward the performance creditably in banking services.
Having carried out an intensive research I cam to the following recommendations/conclusion.
The customers can do without the banks but the banks cannot do without the customers. Therefore the bank staff should be polite and honest enough to the customers, attending to them promptly and not regarding services rendered as favours done to them.
Bank services must be sold like any other product, and product life cycle evident in other industries must be allowed its rightful place in the banking industry as well.
Therefore, unlike one predecessors who confined themselves to the branch, we must have to put on the apron of salesmen to give our services the advertisement it required, adjusting to changing environment customers demands. And above all, the customer is always right.
PREFACE
To keep pace with the ever-increasing demand of business for diverse bank services there have been over the pas few years, a continuous and general modernizing of approaches to the nature of bank services.
In the past few years there has been evidence the appearance and acceptance of recently produced write up to review and up-date the changes that has taken place in the nature of bank services.
The point is that the traditional or so-called old approaches no longer have a place on this subject. Nature of banking services. How ever, my idea is that there has been an in balance between the old approaches of banker themselves they render and the modernized approach where the banker assumes more of the role of a salesman as required by the changing business environment.
CHAPTER ONE
1.0 INTRODUCTION
The nature of banking services in the last few decades has made itself felt in almost every phase of human activity. The changes which have occurred in recent years in the environment respecting demands of customers for bank services in enough justification for reviews and changes in the method of banking procedures. I must first of all like its to realize that a new era has been born in the role of banking services in Nigeria.
1.1 BACKGROUND OF THE STUDY
Sometimes in the past, it was fashionable for bankers to confine themselves to the fore walls of the bank expectation business to come to them. No wonder then the traditional view as summed up along ago by George Rare had this to say: “…….it is for its customers to come to the bank, and not for the bank to go to them…. The Manager has to be so much a fixture in the office, during the business desks or the bank counter, we as banker, must be sensitive to changing public demand and aspiration whether they are desire to obtain improved services or new ones.
The concept of product life cycle, evident in other industries should be allowed is pride of place in banking industry as well. Fresh and tempting products must be introduced, but equally, it must be expected that service will be removed form the range from time to time as and when the situation warrants. The fact remains that bank services nature must be sold just like any other nature product.
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