ABSTRACT
Today, the advancement of mobile technologies has provided an opportunity for financial service providers in introducing new financial innovations. One of the emerging financial innovations introduced by financial providers is mobile banking or m-banking. This study evaluates the customer’s perspective of the adoption or introduction of m-banking in Nigeria. Questionnaires were administered to customers of banks to obtain their perspective on Banking. A sample of 90 customers selected at random was employed for this study and the statistical analysis was carried out using the SPSS software. The customer’s perception was found to be overwhelmingly positive. The most appreciated feature was ubiquity and the overview over bank account. Fast reaction to market developments often cited as one of the most attractive feature of mobile banking did not find high appreciation. Several factors including technical and security standards, regulatory and supervisory issues and business and legal issues were found to be the main factors that might hinder mobile banking implementation in Nigeria.
HOW IT WORKS
Connectivity and secure communication platform and encrypted messaging system were found to be the factors that would enhance mobile banking implementation in Nigeria.
CHAPTER ONE
INTRODUCTION 1.1
BACKGROUND OF THE STUDY
Banking system is known as the backbone of the financial intermediation through the mobilization and chamching of financial resources. Today’s organizations are contrented with rapidly changing market conditions, indicated by high merger rates and strong competitors under these conditions, traditional management approaches that facus on financial figures and on centralized, analytical planning methods are considered to be insufficient for effectively steering the organization in a dynamical environment (Hohman 2008 pp 2-30). Recent management support approaches like intellectual capital or particularly the balanced scorecard aim at providing a borader view of organization performance. They combine both financial and non-financial aspects and comprise activities not only to monitor but also to plan and influence organization performance Hotthuman (2008, p2-30). Their success demonstrates the strong demand for this comprehensive the performance management. Glover (2010, p 77) emphasized technology’s role when he said “that the quality of strategic planning is limited by the quality at information available to decision makers” and that executive Mobil system were critical in furnishing the necessary data which produced information. Performance requirements are derived from the company’s strategy or vision as well as from its stakeholders, e.g customers, suppliers or shareholders. However, it is not sufficient to focus only on the management perspective of the performance management concept. Like other management approaches, performance management can only be implemented successfully, it strategic planning is tightly linked to operational execution. It has to be ensured that strategy charges trigger modification on the business process level and the supporting mobile banking, and that innovation on the information system or the process level initate the adjustment of the company’s strategy. Due to different life cycles and varging actor groups, the alignment of strategy, business processes and mobile banking support often turns cut to be difficult and expensive steven, (2011, p 11-38).
1.2 STATEMENT OF THE PROBLEM
Although a lot of research work has been done on the prospects and challenges of mobile banks in the banking industry, these research works are briad based and only ten are actually carried on electronic banking (Ebanking). Modern banks new realize that only those that overhand their payment service delivery and operations are likely to survive and prosper in the 21 centing. This is due to of globalization, consolidation, pivatisation deregulation and rapidly changing technology comel and sileg (2008, p 19). In other words, paper based electronic based transaction e.g the internet. st Leave a message 6/25/2019
PROSPECTS AND CHALLENGES OF MOBILE BANKS IN THE BANKING INDUSTRY
Banking and finance Research Project | Mobile banking is a driving force that is changing the landscape of the banking industry fundamentally, in particular, towards a more competitive industry, electronic banking has blurred the boundaries between different financial institutions, enabled new financial products and services, and made existing financial services available in different packages Aghada, (2008, P 19-22). But the influence of electronic banking far beyond this. The development in mobile banking together with other financial innovations are constantly bringing new challenges to finance theory and changing people’s understanding of the financial system. Therefore, these project will evaluate empirically, the possibly relationship that exist between technology and profitability of united bank for African (UBA) plc.
1.3 OBJECTIVE OF THE STUDY
The objective of the study are to: 1. To determine if mobile banking helps in the development of banking industry in Nigeria. 2. To assess the improvement in banking operation through mobile banking. 3. To determine the challenges of mobile bank in the banking sector. 4. To identify mobile banking as a key to Nigeria stock exchange activities.
1.4 RESEARCH QUESTIONS
1. What are the ways mobile banking help in, the development of banking industry in Nigeria? 2. Is there any improvement in banking operation through mobile banking? 3. What are the challenges of mobile banking in Nigeria? 4. In what way is mobile banking indentify as a key to Nigeria stock exchange activities?
1.5 SIGNIFICANCE OF THE STUDY
This study is of benefit to the following via; BANKS: To banks, improvement of mobile banking is necessary. The core activity of banks are to be financial intermediaries, that is the mobilization of funds from surplus ends to deficit ends. Mobile banking plays a vital role in banking in terms of computer application which make with the aim of carrying out transaction. The mobile banking is the number one sector for new jobs creation in the world. Today’s everything Technology information and communication Technology. With training in mobile banking people can become employed easily. According To Opara (2010, P 291-300) ascribed the reasons behind the recent development available with the marketing orientation and banks performance in the country as the automated/electronic trading floor of the most NSE. It is clearly seen that NSE is the most effective and proficient economy body in the country today dependence on deploying the tooks of mobile banking to achieve seamless and modern capital Leave a message 6/25/2019.
