CHAPTER ONE

1.1       BACKGROUND OF THE STUDY

Banking has been one of the services that provide the opportunity to use the internet to enhance business transactions that engenders customer satisfaction. The term electronic banking was defined by Allen et al (2001) to mean the procurement of data or services by a bank to its clients by means of a computer. A more sophisticated service is the particular case that furnishes clients with the opportunity to get access to their accounts and execute transactions and to buy item online by means of the internet (Daniel, 2005). The use of electronic banking products or services to banking operations has turned into a subject and concerns to all banks working inside Nigeria and without a doubt a condition for domestic and global competiveness, noted, (Ezeoha, 2006; Ikechukwu, 2000). Banks have realized that the banking of tomorrow requires more of electronic banking transactions rather than traditional banking systems. In other words, the paper based transaction is now being replaced by electronic-based transactions. Whether a bank would be successful or not rely on upon the degree to which it is putting resources into IT and utilizing it as a part of an inventive way. This territory has been noted to be a noteworthy competitive ground for banks that are working in the post-solidification time. Telephone banking, Automated Teller Machines (ATMs), internet banking, mobile banking, and network banking and many others are examples of how technology is changing traditional banking now.

In Africa, electronic banking is starting to pick up its roots over the mainland. For instance, Madueme, (2009) compose that with globalization, Nigerian banks must choose the option to embrace electronic banking services to upgrade successful service conveyance that rises above to customer satisfaction, on the off chance that they truly need to stay in the business race, not to mention be beneficial and once more, the late merging activity in Nigerian banking division has drawn the consideration of numerous banks to utilization of different mechanical gadgets in advancing/accomplishing better customer service conveyance that ensured customer satisfaction that interprets into expansion benefit and higher rate of profitability.

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