Although a lot of research works have been done on the prospect s and challenges of information. Technologies in the banking industry, these research works are board based (E-banking). Opera etal, (2010), posits that, modern banks now realize thatonly those that overhaul their payment services delivery and operations are likely to survive and prosper in the 21st century. Connel and Saleh (2004) are of the view that, due to pressure of globalization, consolidation, privatization, deregulation and rapidly changing technology, in order to properly place themselves in favorable positions for competitions and be one of those corporations, to be reckoned within the new century, banks are making use of internet to executes mobile banking, this developed from bringing personal computer (PCS) together to form local and wide area network through client/server technology.
Many banks have installed modern computer interconnectivity that would enable them achieve communications of data and multimedia over internets, intranets and extranets. They also realize that they have to achieve not only management staff, wide computer literacy but what could be called information literacy i.e. knowing how to locate, analysis, store and use information. All staff and managers in a modern bank need to be able to search and gather data from several types of sources, analyze them, select relevant ones and organize them in such a manner to allow them make decisions based on the organizeddata, banks future realizes that the banking of nowadays requires more of electronic banking and shuffling and other banking transaction, instead of paper. In other words, paper base transactions are now being replaced by electronic based transaction e.g. the internet. Whether a bank would be successful or not depend on the extent to which it is investing on IT and using it in an innovative manner. This area has been tipped to be a major competitive ground for banks that are operating in the post-consolidation era.
These are some of the questions that would be addressed in the course of this study.
Electronic banking is a driving force that is changing the landscape of the banking environment fundamentally 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 package, (Anderson S. 2000), but the influences of electronic banking go far beyond this.
The developments in electronic banking together with other financial innovativeness are constantly bringing new challenges to finance theory and changing people’s understanding of the financial system. It is not surprising that in the application of electronic banking in Nigeria, the financial institutions have to face its problems:-
Some of the objectives which this research work aims to achieve are as follows:-
To evaluate the prospects of electronic banking in Nigerian banking environment