CHAPTER ONE
1.1 Background Of The Study
Today’s business environment is very dynamic and under goes rapid changes as a result of technological innovation, increased awareness and demands from customers. Business organization especially the banking industry of the 21st century operators in a complex and competitive environment characterized by these changing conditions and highly unpredictable economic climate information and Communication Technology (ICT) is at the centre of this changes curve. Laudon and Laudon, (1991) contend that managers cannot ignore information system because they play a critical role in contemporary organization. That point that the entire cash flow of most fortune 500 companies is limited to information system. The application of information and communication Technology concept, techniques, policies and implementation strategies of banking services has become a subject of fundamental importance and concerns to all banks and indeed a pre reversible for local and global competitiveness (ICT) directly affects how managers decides, how they plan and what products and services ware offered in the banking industry. It has continued to change the way banks and their corporate relationship are organized worldwide and the variety of inactive devices available to enhance the speed and quality of services delivery. Harold and Ja (1995), contend that financial services provide should modify their traditional operating practices to remain viable in the 1990’s and decades that follows. They claims the most significant shortcoming in the banking industry today is a wide spread failure on the part of senior management is banks to grasp the importance of technology and incorporate it into strategic plans accordingly. Weherem (2000) claimed that only banks that over haul the whole of the payment and delivery systems and prosper in the new delivery system in order to properly position them within the framework of the dynamism of information and communication technology. The banking industry in Nigeria has witnessed tremendous changes linked with the development in ICT over the years.
