Chapter 3
RESEARCH METHODOLOGY
This section will specify the chosen scope of study, and the procedure through which the data will be collected and analyzed. Taking into account the limitation in terms of time and available resources, specific analyzing methods that align more closely to the ultimate objectives of our research, have been introduced.
3.1) The study area （the research questions）
The reason behind emerging economies deriving more benefits from the online banking is due to the fact that, these kind of economies have a lot of pressure to deliver productivity and growth however there are lack of resources and the potential customers are usually not capable of sharing the major cost spent on information technology and other industrialization initiatives (Agboola 2003) . There is another factor which simultaneously contradicts the above argument and that is the reduction of costs due to the implementation of IT and e-banking facilities. With the implementation of online banking, there are lot of cost saving goals that can be achieved, thus providing the customers with special interest rates and cheaper services (Hawkins 2001).
Globalisation is another factor that makes a lot of difference and banking is one of the most important factors that influence the level of globalization and industrialization that the country goes through. In a growing economy like Nigeria, it is important to enhance the trade relations and transactions with developed countries and therefore online banking definitely plays a very important role in this area (Agboola, 2003) . Even if there is an expectation to invite foreign investments, it cannot be fulfilled without having a tech savvy banking system, considering the fact that almost all the developed countries majorly rely on Internet banking for all types of monetary transactions.
External growth is not the only factor that has influenced by the emerging online banking systems however this kind of banking solution also provides a lot of flexibility to monitor the transactions and track in case if there is any illegitimate movement of money (Hawkins, 2001).
What is the impact of online banking on the Nigerian economy?
How does E-banking impact the customers of Nigerian banks?
3.2) Data collection and sampling
The main data inputs have been used for this research. they are:
a) the survey tool and it’s results, and
b) the use of existing resources and literature with a view to looking further at what makes up each of our sources of aforementioned information.
3.2.1) Survey Tool
This survey was initially designed to be conducted using an interview approach (face-to-face or by voice to voice call). But due to the author’s financial limitations and the difficulty to get an appointment with professionals in the study area, it was refined using the “5W & 1H Problem Analysis Technique” so as to be carried out for both interview and web survey. 5W & 1H Technique involves approaching a problem by asking the questions What, When, Where, Which, Who and How in order to understand all the aspects of a situation leading to the identification of the problem’s root cause.
a) Interviews were executed using two approaches. The first method is a one-to-one contact with the respondent (a very specific target population linked to the subject) during a meeting, and the second method is a telephone exchange with the interviewees. These are semi structured interviews.
b) Web survey, also called an online survey has been posted on SURVEYMONKEY allowing more bidirectional flexibility and response time to the web-respondents (Refer Appendix A). This method provides a “more accurate data and less expensive in term of time and cost“.
3.2.2) Existing resources
Much of the information on which this work builds comes from ordered or downloaded cited books from the internet, published professional journals, quarterly and monthly reports from specialized institutions and organizations, and generally, the wide spread of informative web pages on the internet. All these resources were used to highlight the study context, profile and background the banking industry in Nigeria and to review some identified works and cases relevant to this subject. These inputs, when applying a 360° view helped frame, select and support the methods, techniques and tools used in this work.
3.2.3) Sample population
The sample population is constituted by individuals directly involved, semi involved or not involved in banking sector in Nigeria, but especially those who can provide accurate and rigorous feedback information from the questionnaire.
a) For interviews, the population selected has been through those with whom we already have a relation with related industry).
b) For the online survey, a sample questionnaire was published on the Survey-Monkey web site. An individual email containing the link of the web-questionnaire and including a word-sheet-questionnaire was sent to a pool of available email addresses.
3.2.4) Description of the variables
Some variables have been introduced in order to better collect and analyze information coming from respondents and concerning the problems/benefits/opportunities that online banking leads to, in banking sector in Nigeria. These variables are classified in three mains groups as presented below.
a) Quantitative variables: they are measured in numerical scales and help us determine the deviation/compliance magnitude of the studied element and also of projects performances. Here they are:
The number of years of experience in relation to a user of bank accounts: which is a continuous variable illustrating the number of years actively spent as a banking customer.
The type of banking: a nominal variable representing a group of commercial and personal banking.
b) Qualitative variables: that summarize of the basis attribute of provided data and show out the statistical description of represented elements. Below are some of them:
Involvement of the respondent in banking industry activities: a continuous variable indicating the level of experience in the sector.
The respondent’s role within the Nigerian banking industry: is a nominal variable indicating how deep this person was able to influence the research success,
c) Experiment data: this provided this research with a way to better understand the cause-and-effect relationship of problems that researches face. Based on the analysis of these data, a conclusion will be drawn as to the main/common types of problems in banking projects, their root causes and their reel effect on research success/ objectives, as relating to Nigeria. Some of these data are:
The problems or opportunities encountered,
The business driver of the banking choices made by the customers.
These are then linked back to research objectives documented again in findings and conclusions.
Works Cited
Agboola, AA 2003, 'Inform Technology, Bank Automation and Attitude of Workers in Nigerian Banks‛ ', Journal of Social Sciences , pp. 44-61.
Christian, S, Jens-Peter, M, Ranata, M, Olin, R, Clemens, H, Alexis, H & Stephen, L 2008, Design for Six Sigma and LeanToolset: Implementing Innovations Successfully., Prentice-Hall, San Antonio.
Creswell, J 2009, Research design: Qualitative, quantitative, and mixed methods approaches, 3 edn, Sage Publications, Los Angeles.
Hawkins, ,J 2001, 'The Banking Industry in the Emerging Market Economies: Competition,Consolidation and Systemic Stability: An Overview', BIS Papers No. 4, pp. 1-44.
Punch, K 2005, Introduction to social research: Quantitative and qualitative approaches, Sage Publications, California.
Solomon, P & Draine, J 2009, An Overview of Quantitative Research Methods', The Handbook of Social Work Research Methods, Blackwell Publishers.
Valerie, M, Sue, A & Lois, A 2007, Conducting Online Surveys, Ritter.
Yin, R 2009, Case study research: Design and methods, 4 edn, vol. 5, Sage Publications.
