PROCESS OF INNOVATION IN THE BANKING INDUSTRY (A CRITICAL STUDY ON THE IMPACT OF COMPUTER APPLICATION ON THE COMMERCIAL BANKS IN NIGERIA). A RESEARCH PROJECT MATERIAL ON BANKING AND FINANCE
CHAPTER ONE
INTRODUCTION
1.1 STATEMENT OF THE PROBLEM
This research work is designed to study the impact of computer Application on the commercial banks in Nigeria.
One of the technologies that have the greatest impact on our commercial banks now is the computer power with its attendant daily operations.
The computer is designed to help the banks in many ways which include:
Speedy services
Reduction of work load manually
Helping banks detect fraud
Helping banks to go on-line or to practice on-line banking
Helping the banks to retain their customers and gain new one’s
This research will study
The impact of computer on speedy services
How computer helps or will help the banks in reduction of work load.
Computer in the application of on-line banking system in banks.
1.1 STATEMENT OF THE PROBLEM
This research work is designed to study the impact of computer Application on the commercial banks in Nigeria.
One of the technologies that has the greatest impact on our commercial banks now is the computer power with its attendant daily operations.
The computer is designed to help the banks in many ways which includes:
2. reduction of work load manually
3. Helping banks detect fraud
4. Helping banks to go on-line or to practice on-line banking.
5. Due to speedy services it will also help banks to reduce gueve.
6. Helping the banks to retain their customers and gain new ones.
This research will study
- The impact of computer on speedy services.
- How computer helps or will help the banks in reduction of work load.
- Computer in the application of on-line banking system in banks
1.2 THE RATIONALE OF THE STUDY
The primary function of commercial banks in the extension of credit to worthy borrowers Adewunmi (1996). In making credit available commercial banks are rendering a great social service through their actions, production is increased capital investment are expended aid in a high standard living is realised. Process of innovation in the banking industry is very important to the commercial banks because it aids increased finance of commercial banks in banking sector. Although the investment activities of commercial banks are usually considered separately from lending. Temporal borrowings from commercial banks are not always recovered and this does not provided for smooth development in innovation in banking industry.
It is pertinent to research into the impact of these innovation by installing in computers and suggest possible means of mitigating them.
1.3 SIGNIFICANCE OF THE STUDY
This study is very important to the commercial banks because all innovations through electronic banking will be the key of success of commercial banks.
Computer will help to facilitate early discovery to fraud, misappropriation of funds forgery and any malpractice carried out, banks staff as well as provide quick information for management decision.
The research work in highlighting the benefits derived from use of computer will encourage commercial banks in Nigeria to embrace such benefits by installing in computer’s in their banks.
It will equally serve as a reference material to potential users in information in computer science and technology.