PERFORMANCE EVALUATION OF NEW PRODUCTS DEVELOPED IN THE BANKING INDUSTRY 1999 – 2004 A CASE STUDY OF FIRST BANK OF NIGERIA PLC ENUGU. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE

ABSTRACT

This research studied performance evaluation of new product developed in the banking industry from 1999 – 2004

In this research work, the researcher chooses four of the products and measures the extents to which they have been able to satisfy the customers. The products selected are, smart card, international money transfer, and educational scheme and integrated banking network transaction.

Data for this research were collected through questionnaires and intervenes by banks customers and the review of existing literature on the topic using systematic random procedure and descriptive method of research. The data so collected were analyzed using the simple percentage and formulated hypothesis were testing with chi square (X2) method.

Some of the findings. The performance can be measured in terms of accessibility, speed, timelines, simplicity and reliability. Customers who patronize the new products are Marjory those who want money transfer both locally and internationally. Customers device high level of satisfaction from the new products.

Inadequate infrastructural level in our banking industry and high cost of installing them contributed to the problem of the new products.

Based on the findings, the following were recommended banks should come together and establish a common data communication satellite to minimize constant problems.

A parallel organization that was supplying electricity in competition with NEPA should be allowed to evolved so that an efficient supply electricity can be ensured.

Finally, since this study alone cannot be exhaustive of this vital subject, it is recommended for further studies.

CHAPTER ONE

BACKGROUND OF THE STUDY

The history of banking in Nigeria dates back to pre-independence period, the establishment of banks was motivated by the urge on the part of government to inculcate banking culture in the people and the desire of the people themselves to find the means of making financial intermediation easy,

In the recent time between 1999 – 2004, a lot of techniques are used by bankers to facilitate customers services and customers satisfaction which has led to the introduction of the new products developed in the banking industry. These new products developed in the banking industry today revolves around electronics banking and information technology.

As a result of this, the researcher seeks to study the performance and evaluation of the new products developed in the banking industries between (1999 – 2004)

PERFORMANCE EVALUATION OF NEW PRODUCTS DEVELOPED IN THE BANKING INDUSTRY 1999 – 2004 A CASE STUDY OF FIRST BANK OF NIGERIA PLC ENUGU. A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE