IMPACT OF INFORMATION AND COMMUNICATION

ABSTRACT
The banking industry of the 21st century operates in a complex and competitive environment characterized by ever-changing economic and financial environment with information and communication technology (ICT) at the center of this change. As Information Technology is vital in banking operations today, it becomes imperative for banks to realize its impact on operational performance in order to justify capital investments. The objective of this work was to examine how the adoption of Information and Communication Technology (ICT) affects the competitive performance of banking sector using independent sample t-test. Findings from the study revealed that a positive relationship exists between ICT and banks performance in Nigeria. This implies that a marginal change in the level of the investment and adoption of ICT such as (Automated Teller Machine, Web based transactions, and Mobile payments) in the banking industry resulted in a proportionate increase in the profit level. The study thus recommends that it is imperative for bank management to intensify investment in ICT products to facilitate speed, convenience, and accurate service delivery. These will make Nigerian banks to be efficient, profitable, and competitive and to cope with the changes and challenges that are the outcome of ICT controlled globalized economy.
 
 
Today's business environment is very dynamic and undergoes rapid change as a result of technological innovation,increased awareness and demands from customers.  Business organization, especially the banking industry of 21st century operates   in  a  complex environment characterized by these changing condition and highly unpredicted economic climate.Information and communication technology(ICT) is at the  centre  of  this  global  change.  They  point  out  that  entire  cash  flow  of  most  fortunate  500  companies  is  linked  to  information.  The adoption of ICT is defined as a collective term for a wide range of software, hardware, telecommunications and information management techniques, applications and devices, that are used to create, produce, analyze, process, package, distribute, receive, retrieve, store, and transform information (Brady et al.,2012). In  essence  the  importance  of  information  and  communication  technology  banking  is  itemized   through  information  technology  industry. Effectiveservice  delivery in  information  banking  brings  about  reduced  frustration and  Improve  level  of  awareness  in  an  organization  (Ato,2014). 
Information  technology  has  continued  to  change  the  way  banks  and  their  corporate  Relationship  are  organized.  worldwide  and  the  variety  of  innovation  device  available  to  enhance  the  speed  and  quality  of  service  delivery. Ezeamama,(2010): reported  that  information  and  communication  technology  refers  to  the  various   technologies  that  enhance  the  creation,  storage,  processing,  communication  and  dissemination  of  information.  It  involves  the  different  infrastructure  used  in  these  processes,  their  application  and  numerous  service,  these  infrastructure  renders. In  1978  annual  report,  the  Bank  reported  that  the  department made  steady  progress  on  its  effort  to  effectively  use  of  information  and  communication  technology (ICT)  to  improve  the  efficiency and  the  quality  of  service  delivery   on  financial  sector.  Information  and  communication  technology  is  radically  changing  all  over  the  world. 
The  volume  and  speed  of  handling  transactions  has  improved  tremendously  as  a  result  of  the  growth  of information  technology  which  has  created  a  lot  of  business  opportunities.  Application  of  information  and  communication  technology  is  capable  of  enhancing  optimal  performance  in  service  delivery  if  appropriately  carried  out.  Optimal  utilization  of  facilities  might  be  achieved   if  the  design  is  done  based  on  clear  understanding  of  how  the  service is  to  be  measured.  Such  measurement  include  customer‟s  service  rate,  traffic  intensity and the  average  number  of  customers  in  the  queue.  All  these  assist  to  make  decisions  on  the  level  at  which  information  and  communication  technology  can  be  applied  for  an  optimal  performance  in  Banking  operation. What  prompted  this  work  was  the  various  computerization  activities  going  on  in  the  banking  sector  which  has  been  accredited  to  the  use  of  information  and  communication  technology(ICT)  in   running  of   activities  in  the banks.  The  study  has  also  been  considered  worthy among numerous  research  work  due  to  the  contribution to  the  banking  system  and  economy  at  large. 
 The study  is  to  look  at  the  effect which ICT  has  on  banking  sector  and  also  the  threats  it  has  created  since  the  use  of ICT which  has  been an  increase.  Also  to  find it  out  the  information  and  communication  technology  has  really  improved  the  productivity  of  the  banking  sector  compared  to  when  it was  not  being  used.  As  such  the information  technology  banking  makes  use  of  modern  satellite  communication  facilities  and  different  modes  of  transportation  technology  Banking  is  thus  high  capital - based  organisation  which  has  network being  spread  by  using  modern  sophisticated  equipment:  (Akunyili,  2004,) 
This  Research  work  is  a  study  of  the  impact  of information  and  communication  technology(ICT)  on  the  banking  sector. Many  problems  confronting  the  banks  in  Nigeria  is  in  their  use  of  information  and  communication  technology(ICT). The  problem  associated  with  the  study  is  to  determine the  true  position  of  the  banking  system and  what  it  should  achieve  if  it  will  align  with  the  global  Information.  This  however  becomes  a  huge  task  as  the  study  tries  to,1.      Identify  the  degree  acceptance  of  information  and  communication  technology  in  banking  sector. 2.      Examine  the  contribution  of   information  and  communication  technology  to  the  growth  of  the  banking  sector. 3.      Know  if  information  and  communication  technology  is  enhancing  efficiency  in  banking  sector   and  the  effects  it  will  have  on  banks  that  have  not  fully  adopted  it  in  their  banking  system. 
Themain  objectives  of  this  study  include  the  following; 
1. To  identify  the  degree  acceptance  of  information  and  communication  technology  in  the banking  sector. 
2. To  examine  the  contribution  of  Information  and  communication  technology  to  the  growth  of  the banking  sector. 
3. To  know  if  Information  and  communication  technology  is  enhancing  efficiency  in   the  banking  sector. 
1. Does the  management of banks accept the degree of Information  and  communication  technology onbanking sector? 
2. To  what  extent  has  Information  and  communication  technology  contributed  to  the  growth  on  Banking  sector? 
3. To  what  extent  has  Information  and  communication  technology  enhance  efficiency  on  Banking  sector? 
The  following  hypothesis  will  be  developed  and  empirically  tested,  the  result  will  be  formed  on the  basis  for  recommendation  and  conclusion. 
1. HO;(NULL  HYPOTHESIS)  Information  and  communication  technology  is  not  accepted  by  management  in  the  Banks. 
HI;(ALTERNATIVE  HYPOTHESIS)  Information  and  communication  technology  is  accepted  by  management  in  the  Banks. 
2. HO;(NULL  HYPOTHESIS)  Information  and  communication  technology  has  not  contributed  to  social  infrastructural  development.
HI;(ALTERNATIVE  HYPOTHESIS)  Information  and  communication technology  has  contributed  to  social  infrastructural  development. 
3. HO;(NULL  HYPOTHESIS)  Information  and  communication  technology  has  not  led  toimprovement  of  Information  in  the  Bank  which  has  improved  their  efficiency. 
HI;(ALTERNATIVE  HYPOTHESIS)  Information  and  communication  technology  led  to  improvement  of  Information  in  the  Bank  which  has  improved  their  efficiency.