Full Project – EFFECT OF INTERNET ON QUALITY SERVICE DELIVERY IN NIGERIA BANKING INDUSTRY

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CHAPTER ONE

INTRODUCTION

1.2       BACKGROUND OF THE STUDY

The web is one of the most fascinating and significant developments of the previous century. The Internet was founded in the 1960s by the United States Defense Department and the Advanced Project Research Agency (APRA), which linked their Local Area Networks to establish the ARPA net. This was a deliberate endeavor to maximize the benefits of newly developed computer networking technologies. With the success of the ARPAnet, the National Science Foundation (NSF) of the United States outfitted and linked five institutions with supercomputers. These five institutions served as service hubs for nearby university local area networks (LANs). NSFnet was the name given to the resultant network.

Finally, the NSFnet was connected to the APPAnet using pre-existing telecommunications networks. Computer networking technology was not restricted to America; nations in Europe and Asia also linked their universities and research centers’ local area networks (LANs), building national networks that were connected to the ARPanet to create the information superhighway known as the Internet today. The Internet’s scale continues to grow as it connects hundreds of countries, thousands of computers, and millions of people. The Internet has evolved into a critical instrument for communication, education, research, entertainment, and public relations in the modern day. At the moment, the Internet is managed and maintained by a variety of government, university, business, and computer science and engineering organisations.

Internet can be seen as a measure of interconnectivity and inter-relation of millions of computers all over the world for the basic purpose of information exchange. Each computer so connected maintains its own position of the Internet. In other words, Internet could be taken to mean scheduling every aspect in transactions into a whole whereby message sent and received are regulated. All the computers that are built in an Internet operate common language or prototype as standard in order that a free flow communication (between sender and receiver) is enhanced, the difference in hardware or software not with standing. The benefits in an Internet to all disciplines according to Adeola (2006) are in its facilitator of globalization process. To this effect, Internet in banking is the gateway to effective buying and selling globally of financial services considering the intensive knowledge and opportunity available. Here Internet banking, educates, persuades and guides financial analyst to effective decisions relative to limited available resources.

Contributing Igbinosa (2003) agrees that effective internet usage in organizations (including banking) is a necessity to overcoming competition and ultimately arrive at a success. He (Igbinosa) however added that internet usage in banking should be exercise with caution as a result of variety of risks surrounding networking performance and security in data; However, Mabbare (1999) is of the opinion that if benefits are to be derived in internet by banks, training of resources (human) in selected programme (e.g. electronic mail-Email and Worldwide Web-WWW) are very potent tool. This is because a broad knowledge of this programme will strategically position bankers in terms of accessing data and exchange information. It will also assists in making financial budgets, forecasting and other services more interesting, attractive and less cumbersome.

Thus, this study believes that for the aims (especially quality service delivery) in effective internet banking services to be achieved, internet services that are affordable, reliable and accurate should be built. To Anyanwu (2000), adequate internet installations are prerequisite to bankers satisfying their customer’s needs and wants in terms of time, place and quality services. Similarly, he |(Anyanwu 2000) emphasized that internet services of banks to a very extent creates customers loyalty/patronage as well as sustain goodwill of banks products and services. At this, internet banking is continuously assessed as a working tool without which objectives of stakeholders may not be achieved especially in quality service delivery. However, the application of internet in banking operations or activities (as in selected banks in Lagos) needs a rationale decisions that could retain existing customers as well as win potential customers.

1.2       STATEMENT OF THE PROBLEM

It is a common knowledge today that most banks in Nigeria lack competent personnel in the use of internet on service delivery that satisfies customers, although banks have been sensitized especially to acquire all the necessary skills and computer accessories in the application of internet services. For total quality service delivery in banks, there is the need for banks’ staff and services to have deep-rooted knowledge and facilities of internet for the expected service delivery. Internet application holds the keys to most modern banking, but the question is how far is internet enhancing service delivery for stakeholders in Nigerian banking industry?

1.3       OBJECTIVES OF THE STUDY

The main theme of this study is to appraise the effect of internet on quality service delivery in Nigeria banking industry, using Zenith Bank Plc as a case study. In other words it seek to determine the relationship of internet with banking activities of commercial banks especially Zenith Bank Plc in Lagos Other objectives of the study include:

1. To determine whether inadequate and inexperience staff (personnel) to use communication systems affect data processing for effective banking operations.
2. To appraise the effect of unavailability of timely and accurate computer information to the end users (customers and others stakeholders in banking industry) on corporate performance of banks.
3. To find out if high cost of producing financial information scientifically to the end users (customers and others stakeholders in banking industry) result from inadequate use of internet.
4. To find out if the non-conformity by the banks to technology and financial guidelines could affect the use of internet in banking operations.
5. To examine if the dwindling economy that do not allow for investments in information technology especially internet on banking could be setback on banking activities.

1.4       RESEARCH QUESTIONS

This has to do with the cause of the problems identified above but put in question form.

1. Does inadequate and inexperience staff (personnel) to use communication systems affect data processing for effective banking operations?
2. Does unavailability of timely and accurate computer information to the end users (customers and others stakeholders in banking industry) affect corporate performance of banks?
3. Does high cost of producing financial information scientifically to the end users (customers and others stakeholders in banking industry) result from inadequate use of internet?
4. Can the non-conformity by the banks to technology and financial guidelines affect the use of internet in banking operations?

1. Can the dwindling economy that do not allow for investments in information technology especially internet on banking be setback on banking activities?

1.5     RESEARCH HYPOTHESES

The following tentative hypotheses were formed to guide this study:

Hypothesis I

Ho:      Inadequate and inexperience staff (personnel) to use communication systems do not affect data processing for effective banking operations.

Hi:        Inadequate and inexperience staff (personnel) to use communication systems affects data processing for effective banking operations.

Hypothesis II

Ho:      Unavailability of timely and accurate computer information to the end users (customers and others stakeholders in banking industry) do not affect corporate performance of banks.

Hi:        Unavailability of timely and accurate computer information to the end users (customers and others stakeholders in banking industry) affects corporate performance of banks.

Hypothesis III

Ho:      High cost of producing financial information scientifically to the end users (customers and others stakeholders in banking industry) do not result from inadequate use of internet.

Hi:        High cost of producing financial information scientifically to the end users (customers and others stakeholders in banking industry) results from inadequate use of internet.

Hypothesis IV

Ho:      The non-conformity by the banks to technology and financial guidelines do not affect the use of internet in banking operations.

Hi:        The non-conformity by the banks to technology and financial guidelines affects the use of internet in banking operations.

Hypothesis V

Ho:      The dwindling economy that do not allow for investments in information technology especially internet on banking is not a setback on banking activities.

Hi:        The dwindling economy that do not allow for investments in information technology especially internet on banking is a setback on banking activities.

1.6       SIGNIFICANCE OF THE STUDY

The outcome to this research will be beneficial to the government, banks, and experts in information technology, financial analyst and academic institutions. To the government, the study will enhance revenue from the importation and use of technologies and its accessories for effective electronic banking. Taxes paid to the government for use of technological devices are used in developing other sectors in the economy. In addition government regulatory activities on financial and information technology we help in checking illegal practices among financial institutions. Banks and their staff are assisted through this research to learn new skill/capabilities by adjusting to the technological devices in banking of services. In other words, research, training and development of staff of banks are enhanced. The study is also capable of correcting certain anomalies likely to come up following the use of information technology (internet) for financial services especially banking operations. The study will identify bank areas of strength and weakness in the use of information technology (internet) for banking services.

To financial industry, information technology (internet) and banking services is useful in their satisfactorily rendering services to stakeholders. To the academic, this study will form basis for studies and sustain an existing knowledge.

1.7       SCOPE OF THE STUDY

The study is focused on the effect of internet banking on quality service delivery in Nigeria especially Zenith Banks Plc in Lagos between 2007-2012. It will involve staff in different departments of the bank especially computer, marketing and administration as well as customers. It will emphasis strategies banking aimed at encouraging customers to accept the use of internet in service delivery as well as in informing the public scientifically about bank’s activities.

1.8       LIMITATIONS OF THE STUDY

The conduct of this research may be limited by the following factors:-

Time, which may not be enough for the enormous facts and ideas the research study may require. Added to this is the content of the topic of study. Infact the study may require much time for more coverage.

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Full Project – EFFECT OF INTERNET ON QUALITY SERVICE DELIVERY IN NIGERIA BANKING INDUSTRY