Linking Innovations with Productivity in a Nigeria Banking Firm: What roles for ICT?

Omotoso K. O., Dada A. D., Adelowo C. M., Siyanbola W. O.
2012 Management  
In the current knowledge-based era, the role of ICT in boosting productivity and economic gro wth cannot be over-emphasised. In this era, the Banking system constitutes a very important lin k between savings (capitalist) and investment (entrepreneurs). The banking system contributes significantly to economic develop ment through venture financing in key sectors of the economy. Over the years, the operations of Nigeria banking sector were manual in nature. The advent of technology explosion
more » ... er, had made the services faster and efficient. Th is paper therefore examines the roles of ICT on service delivery in a Nigeria banking firm. This is with a view to making suggestions that can improve the productivity of the banking industry in Nigeria. A survey technique was adopted using structured questionnaire with random samplingon 100 respondents of the bank. The result of the study reveals that ICT had made impacts on the productivity of the bank. However, factors such as affordability of the ICT equip ment, high installation and maintenance cost, cultural factors, capability factors, inadequate skilled manpower, network connectivity, cybercrime and response to ICT dynamism among others pose challenges to the applications of ICT in the bank. So me strategies for mit igation of these challenges are suggested.
doi:10.5923/ fatcat:rweqp62s2varpiyfxiuhx3ymde