ADOPTION OF E-COMMERCE IN THE NIGERIAN BANKING INDUSTRY: PROBLEMS AND PROSPECTS A STUDY OF UBA PLC AND ZENITH BANK PLC

AUTHOR: HARRISON UTUM UBI

DEPARTMENT: BANKING AND FINANCE

AFFILIATION: NNAMDI AZIKIWE UNIVERSITY, AWKA

The study evaluates the adoption of e-commerce in the Nigerian banking industry using questionnaires as instruments of data collection with respect to the expected benefits derived, the barriers that prevent banks from taking adequate advantage of e-commerce business, the challenges banks encounter when adopting e-commerce, implications of adopting ecommerce and the prospect of adoption of e-commerce. UBA Plc and Zenith Bank Plc were used as case study. To achieve the topic of study, the following objectives were set out by the researcher: To identify the benefits that may be derived by adopting e-commerce by banks. To describe the challenges encountered in the adoption of e-commerce by banks. To identify the implications of adopting e-commerce by banks. A survey research design was adopted to evaluate the above objectives. The population of the study was drawn from the total workforce of the two banks and their customers A sample size of 500 respondents were determined using the Yaro Yamane formula. The major statistical tools employed in analyzing the data were simple tables used in analyzing questionnaires and ANOVA statistical tool was used in testing the hypothesis .Findings from the analysis of data indicate that banks face some barriers, challenges when they adopt e-commerce in the Nigerian banking industry and they also benefit from adopting e-commerce. Major recommendations of this research work are that banks should accept ecommerce deployment as a strategy to improve and develop the quality of products and services offered to customers so as to help achieve their overall corporate objectives. Banks should also seek for credit facilities to enable them acquire such facilities that is needed in the industry which will enhance productivity of the banking industry. Finally, it is the researcher’s belief that if these recommendations are followed, the fortunes of the e-commerce would improve the service delivery to their customers’ and in the long run it will impact on their profit and loss position. 

TO VIEW THE FULL CONTENT OF THIS DOCUMENT, PLEASE VISIT THE UNIZIK LIBRARY WEBSITE USING THIS LINK, http://naulibrary.org/dglibrary/admin/book_directory/Thesis/11060.pdf

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