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2323 Words Apr 9th, 2014 10 Pages
Partial Review of the Literature
Managers cannot ignore Information Systems because they play a critical role in contemporary organisation. 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.
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Microsoft Encarta 2009 defined information and communication technology as the processing of data via computer: the use of technologies from computing, electronics, and telecommunications to process and distribute information in digital and other forms. Information technology combines the technology of computers and communications to provide information processing services throughout the office or around the world.
Josiah and Nancy, (2012) observed that there are positive impacts of e-banking on bank turnover and profitability and to a lesser extent on employment, most notably when e-commerce is part of larger business strategies of bank. The use of e-banking can contribute to improved bank performance, in terms of increased market share, expanded product range, customized products and better response to client demand. Only banks that use their technology resources effectively have the opportunity to secure real competitive advantage in this fast changing industry through real product or service differentiation.
2.2 Electronic Banking And The Common Banking Products Ojokuku and Sajuyigbe (2012) identified the following ICT banking products:
2.2.1 Point of Sale terminals: POS terminals handle cheque verifications, credit authorization, cash deposit and withdrawal, and cash payment. This enhances electronic fund transfer at the point of sale (EFTPOS). EFTPOS enables a customer's account to be debited immediately with the cost of

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