IMPACT OF INFORMATION AND COMMUNICATION TECHNOLOGY ON THE BANKING SECTOR
(A CASE STUDY OF ACCESS BANK, GARDEN AVENUE ENUGU STATE
Abstract
Computers and telecommunication system have become very important as delivery systems and productivity tools of electronic data and information. Nigerian banks have now realized that banking today requires prompt delivery of services, efficiency and the ability of customers to be served in any of their branches any part of the country, without any encumbrance. As a result of this, banks embarked on the use of Integrated banking application that can help them to provide efficient, comprehensive and nation-wide services to their customers, through the use of WANs(wide area network). The focus of this study is on “The impact of information and communication technology on banking sector, A case study was on Access Bank Garden Avenue Enugu. 34 staff was used for the study and Questionnaire drawn distinctly to suit the purpose of this study were administered to various respondents in a 2 point scale of AGREED or DISAGREED. The chi-square statistical tool was used in testing the hypothesis by testing the “Goodness or Fitness” of the frequencies. Some of the major findings were: information and communication technology is widely accepted by the banking sector, The contribution of information and communication technology has brought about a new revolution in the economy and helps to reduce operational cost in the areas such as personal management, administration, maintenance and information and communication technology which has enhanced efficiency in banking sector, through the use of ATM, smart cards reduction in the cost of doing business in banks and following recommendation with the intent that if adopted, would have positive effects on the banking sector. The banks should improve more on its information technology so as to enhance its productivity, the use of (ICT) in the banking sector should not only be restricted to the cities alone, rural banking should also be improved upon from time to time. There should be enlightenment given to the general public through the various media on how to use some of the (ICT) equipment like the smart cards, ATM, etc and its importance should also be made known to the public.
TABLE OF CONTENTS    
CHAPTER ONE:    
1:0 INTRODUCTION    
1:1 Background to the Study    
1:2    Statement of the Problem    
1:3    Objectives of the study -    
1:4    Research Questions    
1:5 Research Hypotheses    
1:6    Scope of the Study    
1:7Significance of the study    
1:8    Limitation of the study    
CHAPTER TWO :    
2:0  REVIEW OF RELATED LITERATURE    
2:1Theoretical Review    
2:1:1 Development of Banks in Nigeria    
2:1:2 Evolution on ICT on Banking Sector    
2:1:3 Historical Background of ICT on Banking Sector.    
2:1:4 Impact of ICT on Banking Sector    
2:1:5 Contribution of ICT on Banking Sector    
2:1:6The Role of ICT on Banking Sector    
2:1:7 Problems of ICT on Banking Sector    
2:1:8 Challenges of ICT on Banking Sector    
2:2 Empirical Review    
CHAPTER THREE:    
3:0  RESEARCH METHODOLOGY    
3:1    Research Design    
3:2    Nature and source of data    
3:3    Population of study    
3:4    Determination of sample size    
3:5  Method of data Analysis
CHAPTER FOUR
4:0  PRESENTATION AND ANALYSIS OF DATA
4:1    Presentation of Data
4:2    Analysis of data
CHAPTER FIVE :
5:0 SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATION
5:1 Summary of Findings
5:2    Conclusions
5:3 Recommendations
Bibliography
Appendix
Questionnaire-

Today’s business environment is very dynamic and undergoes rapid change as a result of technological innovation, increased awareness and demands from customers. Business organization especially the banking industry of 21st century operates in a complex environment characterized by these changing condition and highly unpredicted economic climate. Information and communication technology(ICT) is at the centre of this global change. They point out that entire cash flow of most fortunate 500 companies is linked to information. The adoption of ICT is defined as a collective term for a wide range of software, hardware, telecommunications and information management techniques, applications and devices, that are used to create, produce, analyze, process, package, distribute, receive, retrieve, store, and transform information (Brady et al.,2002).
In essence the importance of information and communication technology banking is itemized through information technology industry. Effective service delivery in information banking brings about reduced frustration and Improve level of awareness in an organization (Ato,2004). Information technology has continued to change the way banks and their corporate Relationship are organized. worldwide and the variety of innovation device available to enhance the speed and quality of service delivery Ezeamama,(2010): reported that information and communication technology refers to the various technologies that enhance the creation, storage, processing, communication and dissemination of information. It involves the different infrastructure used in these processes, their application and numerous service, these infrastructure renders. In 1978 annual report, the Bank reported that the department made steady progress on its effort to effectively use of information and communication technology (ICT) to improve the efficiency and the quality of service delivery on financial sector. Information and communication technology is radically changing all over the world. The volume and speed of handling transactions has improved tremendously as a result of the growth of information technology which has created a lot of business opportunities. Application of information and communication technology is capable of enhancing optimal performance in service  delivery  if  appropriately  carried  out.  Optimal  utilization  of  facilities  might  be achieved if the design is done based on clear understanding of how the service is to be measured. Such measurement include customers service rate, traffic intensity and the average number of the customer’s in the queue. All these assist to make decisions on the level at which information and communication technology can be applied for the optimal performance in banking operation. What prompted this work was the various computerizations going on in the banking sector which has been accredited to the use of information and communication technology in running of activities in the bank. The study has also been considered worthy among numerous research work due to the contribution in the banking system and economy at large. The study is to look at  effect which ICT the has on banking sector and also the threats its has created since the ICT which has been an increase. Also to find it out the information and communication technology has really improved the productivity of the banking sector compared to when it was not being used. As such the information technology banking makes use of modern satellite communication facilities and different modes of transportation technology Banking is thus high capital - based organisation which has network being spread by using modern sophisticated equipment: (Akunyili, 2004,)
1:2 STATEMENT OF THE PROBLEMS
This Research work is a study of the impact of information and communication technology(ICT) on the banking sector. Many problems confronting the banks in Nigeria is in their use of information and communication technology(ICT). The problem associated with the study is to determine the true position of the banking system and what it should achieve if it will align with the global Information. This however becomes a huge task as the study tries to,
1.    Identify the degree acceptance of information and communication technology in banking sector.
2.    Examine the contribution of information and communication technology to the growth of the banking sector.
3.    Know  if  information  and  communication  technology  is  enhancing  efficiency  in
banking sector and the effects it will have on banks that have not fully adopted it in their banking system.
1:3 0BJECTIVE OF THE STUDY
The main objectives of this study include the following;
1.    To identify the degree acceptance of information and communication technology in the banking sector.
2.    To examine the contribution of Information and communication technology to the growth of the banking sector.
3.    To know if Information and communication technology is enhancing efficiency in the banking sector.
1:4RESEARCH QUESTIONS
1.    Does the management of banks accept the degree of Information and communication technology on banking sector?
2.    To what extent has Information and communication technology contributed to the growth on Banking sector?
3.    To what extent has Information and communication technology enhance efficiency on Banking sector?
1:5 RESEARCH HYPOTHESIS
The following hypothesis will be developed and empirically tested, the result will be formed on the basis for recommendation and conclusion.
1.    HO;(NULL HYPOTHESIS) Information and communication technology is not accepted by management in the Banks.
HI;(ALTERNATIVE HYPOTHESIS) Information and communication technology is accepted by management in the Banks.
2.    HO;(NULL HYPOTHESIS) Information and communication technology has not contributed to social infrastructural development.
HI;(ALTERNATIVE HYPOTHESIS) Information and communication technology has contributed to social infrastructural development.
3.    HO;(NULL HYPOTHESIS) Information and communication technology has not led to improvement of Information in the Bank which has improved their efficiency.
HI;(ALTERNATIVE HYPOTHESIS) Information and communication technology led to improvement of Information in the Bank which has improved their efficiency.
1:6 SCOPE OF THE STUDY
This study covers the Impact of information and communication technology on banking sector. All banks could have been covered but for time and cost constraints. So the researcher decided to pick ACCESS BANK PLC AT GARDEN AVENUE ENUGU.
1:7 SIGNIFICANCE OF THE STUDY
The significance of the study cannot be over emphasize., The study enables the banking sector see the need for information and communication in the day to day running of its activities and contribution, Information and communication technology has on the efficiencies of its service to their customer‟s the study also provides an insight into the various ways in which Information and communication technology functions in bank as to increase its productivity. The study will also reveal the need for improvement in the use of various Information and communication technology so as to satisfy the demanding, desires of their customers and compete with their counter parts in the banking industry. This will also be beneficial to students that will carry out further research work and also to Government for policy making implementation.
1:8 LIMITATION OF THE STUDY
There are some of limitations of this study, despite the fact that Research would be succeful. In any Research work, it may be impossible to take good care all problem involved, the only thing a Researcher can do is to consider those factors that are essential to Research. The actual limitation of the study is financial constraints as well as time constraints due to other academic pressure.