impact OF E-BUSINESS ON bank performance IN nigeria
IMPACT OF E-BUSINESS ON BANK PERFORMANCE IN NIGERIA
1.1BACKGROUND OF THE STUDY
Information technology (IT) involves the management and distribution of information through speech, data, and video using software, hardware, utilities, and supporting infrastructures (Safeena & Date 2010; Uduji 2013).
The market world as a whole has undergone inconceivable change as a result of the use of IT applications (Uduji, 2013a). The banking sector, for instance, has benefited greatly from an online business (e-business) strategy.
E-business is one of the software technology subsets that is frequently utilised to expand, develop, and boost the competitiveness of the banking sector. Hasan, Baten, Kamil, and Parveen (2010) asserted that distribution networks for banks are a natural result of technological improvements.
Particularly in emerging nations like Nigeria, IT and internet banking (e-banking) have developed into crucial tools for enhancing a nation's competitiveness, growth, and the effectiveness of commercial and public banks.
The development of IT has led to numerous changes in the banking business, starting with the delivery systems as evidenced by automated teller machines (ATMs), mobile banking, telebanking, PC banking, and the most recent technology, e-banking (Gallup, 2008).
The labor-intensive cascade payments mechanism and paper-based payment methods were also replaced by these systems. Underestimating the importance of e-banking, according to Safeena and Date (2010), causes a bigger gap with developed nations because most banks look for chances in the changing business environment.
According to projections, the long-term effects of e-banking on bettering quality and service delivery will be profitable for Nigerian banks.
1.2 STATEMENT OF THE research PROBLEM
E-business is a critical component of banking in the modern day; yet, while large banks and institutions have adapted to this transition, other sections of Nigeria have yet to incorporate it. Today's civilization has benefited greatly from the development of digital technology (IT) both economically and socially.
Today's banking business cannot advance swiftly without the use of technology. In fact, e-banking, often known as internet banking, is one of the IT innovations that has had the biggest impact on the world economy in terms of fostering a contemporary business environment.
Thus, the purpose of this study is to investigate the impact of e-banking on the production of Nigeria's banking industry through an analysis of United Bank of Africa.
1.3 PURPOSE OF THE STUDY
To further discuss the impact of e-business on UBA's overall performance.
To investigate the effect that e-business has on UBA's performance.
To research how customers are affected by e-business.
1.4 RESEARCH QUESTIONS
What role does e-business play in UBA's overall performance?
What effect does e-business have on UBA's performance?
What impact does e-business have on consumers?
1.5 RELATIONSHIP TO OTHER STUDIES
This study will be important for other institutional bodies as well as UBA in determining the influence and effectiveness of e-business on their performance.
It will give academics who want to delve more into this subject matter and possibly expand the research to other institutional bodies additional research materials, which would benefit the academic community.
1.6 SCOPE OF THE STUDY
Only the effects of e-business on United Bank for Africa's performance and on the bank's clients or customers will be examined in this study.
1.7 LIMITATIONS OF THE STUDY
The researcher's only constraints in carrying out this investigation were a lack of funding and time for purchasing necessary materials to probe deeper into it.
1.8 OPERATIONAL DEFINITION OF TERMS
Online business, often known as e-business, refers to any kind of commercial or business transaction including the exchange of information via the internet.
One of the key functions of every business is commerce, which is defined as the exchange of goods and services between organisations, communities, and people.
A bank is a business or organisation established to handle people's everyday financial activities and is also in charge of making loans available.