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Recent decades became the time, when modern technology has been introduced in all fields of common life and changed the World. (Wigand, 1997) The banking system was no exception and as it is a milestone of the economy the intake of electronic technologies, development of electronic banking, was crucial for the overall performance. (Akhisara, 2015; Nickels, 2003)
Telecommunication and electron data processing have now become so common, but in 40 years ago the introduction of credit cards, the Automatic Teller Machine (ATM) and the ATM networks were a revolutionary step. (Uzoma, 2013) The information technologies speeded up the transaction process and made them even more profitable. It has also changed the relationships between banks and their customers, who could now manage funds mails away from an office.
Of course, these technologies brought new dangers as well, but with time, the majority of the banks has succeeded in securing channels and developed multistep systems to ensure the highest security for any transaction. (Akhisara, 2015) The developments are expansive, but simultaneously they decrease increase competition, broad geographic reach and penetrate new markets. It gave an opportunity to all people to use e-commerce medium via the internet and with additional help from other electronic devises. Thus, Electronic Banking has become as a significant and rapidly growing component of the world economic exchange, which it reduced to a tiny global information village opened for everybody.
In latest years, several interesting researches in the field of electron banking were devoted to the examination of this system in Nigeria (Abaenewe, 2013; Abubakar, 2014; Shehu, 2013). This country belongs to the developing ones, its banking sector is also still developing, and all parties are searching for the best business models. Thus, researches done in the field of electron banking technologies could be of a great interest for specialist in the similar countries.
The researchers used different data sources for an open published report to the specially designed questionnaire distributed among the staff of the banks quoted on the Nigerian stock exchange (Uzoma, 2013). The data have been evaluated using standard statistical methodologies and special correlation tools. All final reports showed that the integration of electron backing has had a positive effect on this sector; the operational effectiveness of the deposit money bank has been improved. The authors have declared that electronic banking is worth to be recommended amongst the Nigerian banks and the government responsible for the level of power supply should sponsor these programs. (Abubakar, 2014) Still staff in banks should be rained on IT management and operation of ATM’s, to be able to present the benefits to the customers. (Uzoma, 2013).
Summarizing all the information it can be concluded that electron backing have definitely positive influence on the performance of the deposit money banks (Abaenewe, 2013; Lustsik, 2003). Such techniques not only stimulate trade and money flows, but also have a positive effect on common end users, who declare themselves to feel safe and thus much eager to interfere with the banks. (Akhisara, 2015) To enable future growth and stability the electron technologies and staff should be developed to enable efficient and safe work. Despite differences bank systems in all countries benefit from the modern technologies and eager to invest money and other resources in their development to satisfy the growing needs of their clients and effectively interact with their national and international partners. Countries with undeveloped or developing banking systems can use the latest technologies and even skip some steps on the way to global integration.
Works cited
Abaenewe, Z. C., O. M.Ogbulu, and Ndugbu, M. O. “Electronic Banking And Bank Performance In Nigeria”. West African Journal of Industrial & Academic Research 2013, 6(1): 171-187.
Abubakar, A. “The Effects of Electronic Banking on Growth of Deposit Money Banks in Nigeria”. European Journal of Business and Management. 2014, 6(33): 79-90.
Akhisara, I., K. B.Tunayb, and N. Tunayc. “The Effects of Innovations on Bank Performance: The Case of Electronic Banking Services”. Procedia - Social and Behavioral Sciences World Conference on Technology, Innovation and Entrepreneurship, 2015, 295: 369–375.
Lustsik, O. (2003):Can E-Banking Services be Profitable? Tartu University Press, Estonia.15
Nickels W.G., James M.M., Susan M.M. (2003): Understanding Business, 1st Edition, McGraw-Hill Publisher, New York, America
Shehu, U.H., A. Mamman and M. Adeiza Farouk. “Electronic banking products and performance of Nigerian listed deposit money banks”. American Journal of Computer Technology and Application 2013, 1(10): 138-148.
Uzoma, M. E. & Oladele, A. O. “Electronic banking and operational effectiveness of deposit money banks in Nigeria”. Siren Journals, 2013, 6(2)
Wigand, R. “Electronic Commerce: definition, Theory and Context”, The Information Society: an International Journal. 1997, 13(1): 1-17.
