An Assessment of Information and Communication Technology (ICT) On The Productivity of Selected Banks In Ilorin
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 in 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 “Assessment of information and communication technology and e-commerce on the productivity of the Nigerian banking industry. Specifically, the study was designed to: (i) examine how technological innovation has improved the employees’ performance (ii) examine how e-commerce has increased market share in Nigerian banks.Twelve banks were used for this study based on the fact that they are early adopters of ICT and e-commerce in Nigerian banking industry and have consistently utilize their ICT and e-commerce platform from 2005-2015. Twenty-five (25) questionnaires were distributed to each of these banks which make a total of 300 questionnaires used as sample size. The statistical tools employed in analyzing the data were frequency tables used in analyzing questionnaires; Pearson Product Moment Correlation Coefficient Technique. The major results of the study were: (1) the result of PPMC shows that there was significant relationship between technological innovation and the employees’ performance of the Nigerian banking industry (r = .278**, N=232 P< .05) (2) the result of PPMC shows that there was significant relationship between the adoption of e-commerce and the market share of the Nigerian banking industry (r = .220**, N=232 P< .05). Findings from the analysis of the data indicate that technological innovation in Nigerian banking industry had revolutionized some banks ‘services through the use of ICT as including account opening, customer account mandate, and transaction processing and recording.Based on the findings, it was recommended that banks should deploy ICT and e-commerce as a strategy to improve and develop the quality of products and services offered to customers in other to achieve their overall corporate objectives which is profit making.