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The Impact Of Information Communication Technology On The Performance Of United Bank For Africa Plc
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Grossman G. and E Helpman 2009, ascert that information communication
technology (ICT) stresses the role of unified communication technology
and integration of communication (telephone lines and wireless signals)
computer middle ware as well as software, storage and visual system
which enable users to create ,access ,store, transmit and manipulate
information. Laudon and Laudon, (2009).contend that managers cannot
ignore Information Systems because they play a vital role in
contemporary organization. They point out that the entire cash flow of
most fortune 500 companies is linked to Information System.
The
application of information and communication technology concepts,
techniques, policies and implementation strategies to banking services
has become a subject of fundamental importance and concerns to all banks
and indeed a prerequisite for local and global competitiveness. ICT
directly affects how managers decide, how they plan and what products
and services are offered in the banking industry. It has continued to
change the way banks and their corporate relationships are organized
worldwide and the variety of innovative devices available to enhance the
speed and quality of service delivery.
Harold and Jeff (2008)
contend that financial service providers should modify their traditional
operating practices to remain viable in the 2000s and the decades that
follow. They claim that the most significant shortcoming in the banking
industry today is a wide spread failure on the part of senior management
in banks to grasp the importance of technology and incorporate it into
their strategic plans accordingly. Woherem (2010) claimed that only
banks that overhaul the whole of their payment and delivery systems and
apply ICT to their operations are likely to survive and prosper in the
future . He advices banks to re-examine their service and delivery
systems in order to properly position them within the framework of the
dictates of the dynamism of information and communication technology.
The banking industry in Nigeria has witnessed tremendous changes linked
with the developments in ICT over the years.
The quest for survival,
global relevance, maintenance of existing market share and sustainable
development has made exploitation of the many advantages of ICT through
the use of automated devices imperative in the industry. This study
evaluates the response of Nigerian banks to this new trend and examines
the extent to which they have adopted innovative technologies in their
operations and the resultant effects.
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ABSRACT - [ Total Page(s): 1 ]As information technology is the modern trend in banking today it is very imperative for bank to access it’s impact operational performance so as to justify if the hunger capital invested on it is justifiable or not, analyse their problems and proffer possible solutions. The objective of this study is to identify how the introduction of information and communication technology has influenced bank performance in terms of effectiveness, efficiency, competitiveness, customers base and global ... Continue reading---
