THE IMPACT OF INFORMATION TECHNOLOGY ON CUSTOMER’S SATISFACTION AND PROFITABILITY IN NIGERIA BANKS. (A CASE STUDY OF TRANS INTERNATIONAL BANK PLC)

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ABSTRACT

The main objective of any financial institution is to harness their profit making potentials and subsequent development and growth.  An the purpose of this study is to urge banks to adopt the efficient use of information technology in all their banking operations.  This will in turn load to increased customer’s  satisfaction and patronage which will eventually translate into improved deposits.  Therefore in this world of dynamism, all banks in order to achieve their set goals must be innovative and adopt the use of computers in their routine operations.  It has been proved that the use of computers for auditing  and accounting purposes are more efficient   and reliable.  The bank manager   can easily punch  the computer from  his own office without consulting any of his subordinate and all the information’s he require  will  appear at a twinkle of an eye.  This has gone a long way in maintaining water tight internal control and at the same time reduced fraud in the  banking sector.

Data collected were through questionnaires and hypothesis research statements were duely tested using chi-square technique.  Data analysis and interpretation gave the following findings:

Information technology has increased  customers satisfaction in Trans International Bank PLC.

Information technology has greatly unchanged the profitability of the bank.

Information technology has let to increased bank deposit.

Information technology has led to development and growth of the bank.

Based on my findings, I have recommended that banks should endeavour to:

Computerize fully at aspect of their operations.

Embark on intensive training of their state in order to acquaint them with the uses and applications of computers.

Be  prudent in management  of their resources and adhere to ethics and law guiding banking operations in Nigeria.

 

TABLE OF CONTENTS

CHAPTER ONE

• Introduction 1

1.1   Background of the Study                                        1

1.2   Statement of the problems                                              3

1.3   Purpose of the Study                                             4

1.4   Research Questions                                                5

1.5   Research Hypotheses                                                     6

1.6   Significance of the Study                                       7

1.7   The scope of the study.                                          9

CHAPTER TWO

• Literature Review 10
  • Introduction 10
  • Information technology and management

information system                                                11

• The concept of information technology

and competition.                                                    16

• Information technology and the Nigeria

Banking environment.                                            18

• Effect of information technology on customer’s

satisfaction in Nigeria financial institution.                      23

2.6   Profitability of the Nigeria Banking Industry            25

CHAPTER THREE                

• Research design and Methodology. 27

3.1   Research Design                                                    27

3.2   Area of the study                                                   29

3.3   Population of the study                                          29

3.4   Sample and sampling technique                               29

3.5   Instrument for data collection.                                29

3.6   Method of data analysis.                                         30

CHAPTER FOUR

• Data Presentation and Analysis 31

4.1   Hypotheses Testing and Results                              31

CHAPTER FIVE            

• Findings, Recommendations and conclusion. 45

5.1   Discussion of findings                                           45

5.2   Recommendations                                                  48

5.3   Conclusion                                                           49

5.4   Limitations of the study.                                        50

References                                                            52

Questionnaire design                                             54

CHAPTER ONE

• INTRODUCTION

1.1   BACKGROUND OF THE STUDY:

               Owing to the voluminous work and the need to meet up with customers demand in the banking industry, most banks have developed and adopted the use of high-tech electronic devises such as computers for more efficient services.  computer plays a vital role in storage, processing, analysis and retrieval of information’s within a twinkle of an eye.  Suffice it to say that electronic banking is the order of the day in most Nigeria banks today.  The most important needs of computer is for customers satisfaction and enhanced profitability.  Computerized  banks quickly respond to customers demands which include; ascertainment of account balance, withdrawal or deposit of cash and other inquires.  With the adequate of automatic teller machine (ATM), banks can also  offer quicker services to their numerous customers outside  the banking hall.

Furthermore, online banking off the customers the opportunity to withdraw or deposit money from their accounts at any branch in Nigeria.

The extend to which electronic banking have aided banks in satisfying their customers and at the same time enhance their  profitability is another issue to be examined.  Trans international bank Plc (TIBPLC) has been chosen as a case study for the purpose of this project.

Historical Background:   Trans international bank plc was established on March, 1989 with its headquarters at Ibadan, Oyo State of Nigeria.  As a new generation bank born out of  a vision to set standard, in customer satisfaction and profitability making.  The seed of passion, creativity and team spirit sown by the founders did not  take much time to blossom.

The first  nine months of operation  recorded an after tax  profit of three million and one hundred  thousand naira (N3.1million).  This grew to N7 million in the year 2000.

Despite  the hard economic conditions which led to many banks going distress in the  90 TIB  remains solid with a high capital base to date.  Since then, it has continued to grow in  leaps and sounds.  More branches  have been  opened with within Ibadan and Lagos State.  Within it’s twelve years of operations, shareholder fund has grown from N130 million in 1994 to N1.022 billion by the end of year 2003.

Also total deposits and gross earnings grew to N8.7 billion and N1.9 billion respectively.  This result into 81.25% and 73% growth between 1999 and 2003 respectively.

TIB  is  one of the few banks among it’s pears to be quartered in it’s own corporate headquarters christened TIB house.

 

• STATEMENT OF PROBLEM

Owing to government stringent regulation of  banking industry in Nigeria and the need to remain in business, most banks have adopted various measures in order to remain in Business while some have gone distress.  Currently every bank is aspected to maintain N25 billion capital base in order to be in operation.  TIB Plc is one of the new generation banks that has remained in business within the banking indu