Impact of Ict on the Banking Industry a Case Study on First Capital Plus
The study is a comprehensive evaluation of the impact of ICT on the banking industry (a case study of FIRST CAPITAL PLUS). Three categories of variables that relate to the adoption and implementation of information technology devices were used for the study. These include the nature and degree of adoption of innovative technologies, degree of utilization of the identified technologies, and the impact of the adoption of ICT devices on banks operation. These developments in technology have resulted in new delivery channels for banking products and services such as Automated Teller Machines (ATMs), Telephone Banking, Speed Banking, and Electronic Funds Transfer at Point of Sale. This study evaluates the views of banking customers …show more content…
This revolution in the market place has set in motion a revolution in the banking sector for the provision of a payment system that is compatible with the demands of the electronic marketplace (Balachandher et al, 2001).
Innovations in information processing, telecommunications, and related technologies – known collectively as “information technology” (IT) – are often credited with helping fuel strong growth in the many economies (Coombs et al, 1987).
Dabholkar (1994) claims that when the customer is in direct contact with the technology there is greater control such as with Internet banking. However, if there is an absence of direct contact, such as with telephone banking (since the technology itself is not visible to customers who are able only to press numbers on their telephone keypad) it is assumed that there is less control perceived by the customer during this transaction. Bateson (1984) has conducted a number of studies on the need for consumers to have control during service encounters. When a consumer freely chooses to use technology as a form of service delivery the impact is high in terms of quality attributes. Some of the quality factors that are highly important to consumers are efficiency