ELECTRONIC BANKING/ INVESTMENT AND PORTFOLIO MANAGEMENT (A CASE STUDY OF FIRST BANK NIGERIA PLC )

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BACKGROUND OF STUDY

The Nigeria banking industry has witnessed a lot of changes since the mid 1980’s and this is reflected in the increased volume and complexity of bank operations, increased innovations and varieties in product and service delivery. These development have not only been technology driven but have influenced move technological advances.Information technology which is the foundation of modern electronic banking through desktop computers and terminals provide the tools for delivery of new products and innovations characterized by ATM’s cash dispensers, credit and cash card, information technology through electronic banking is radically changing how banking is done all over the would. The volume and speed of banking transactions has improved tremendously as a reject of the growth of electronic banking which has created a lot of changes and business opportunities for banks. What used to be termed electronic data processing has been transformed into electronic banking through information technology. The change in terminology reflects on equivalent transformation of the use of the computer from automation of paper flow to reduction in unit cost the replacement of manual with computer processing to today’s focus on electronic product and service delivery which has become the underlying ethos in today’s banking with a shift in adopting to a consumers market. Electronic banking through IT has created and unparalleled wired economy. The transfer of money from point “A” to point “B” has resulted in turning the actual money into bits and bytes through satellite, fibre optic, cable or regular telephone lines. Aladesulu (1998).

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ELECTRONIC BANKING/ INVESTMENT AND PORTFOLIO MANAGEMENT (A CASE STUDY OF FIRST BANK NIGERIA PLC )

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