ABSTRACT
This research studied
performance evaluation of new product developed in the banking industry from
1999 – 2004
In this research work,
the researcher chooses four of the products and measures the extents to which
they have been able to satisfy the customers. The products selected are, smart
card, international money transfer, and educational scheme and integrated banking
network transaction.
Data for this research
were collected through questionnaires and intervenes by banks customers and the
review of existing literature on the topic using systematic random procedure
and descriptive method of research. The data so collected were analyzed using
the simple percentage and formulated hypothesis were testing with chi square
(X2) method.
Some of the findings.
The performance can be measured in terms of accessibility, speed, timelines,
simplicity and reliability. Customers who patronize the new products are
Marjory those who want money transfer both locally and internationally.
Customers device high level of satisfaction from the new products.
Inadequate
infrastructural level in our banking industry and high cost of installing them
contributed to the problem of the new products.
Based on the findings,
the following were recommended banks should come together and establish a
common data communication satellite to minimize constant problems.
A parallel organization
that was supplying electricity in competition with NEPA should be allowed to
evolved so that an efficient supply electricity can be ensured.
Finally, since this
study alone cannot be exhaustive of this vital subject, it is recommended for
further studies.
TABLE OF CONTENTS
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND
OF THE
STUDY
1.2 STATEMENT
OF
PROBLEM
1.3 OBJECTIVES
OF THE
STUDY
1.4 RESEARCH
QUESTIONS
1.5 RESEARCH
HYPOTHESIS
1.6 PURPOSE
OF THE
STUDY
1.7 SIGNIFICANCE
OF THE
STUDY
1.8 RATIONALE/JUSTIFICATION
1.9 SCOPE
OF THE
STUDY
1.10 LIMITATION
OF THE
STUDY
1.11 DELIMITATIONS
OF THE
STUDY
1.12 ASSUMPTION
OF THE STUDY
1.13 DEFINITION
OF
TERMS
1.14 REFERENCE
CHAPTER TWO
LITERATURE
REVIEW
THEORETICAL
FRAMEWORK
2.1 NEW
PRODUCT FOR EFFECTIVE BANKING
OPERATION
2.2 THE
PRODUCTS IN THE BANKING
INDUSTRY
2.3 INFORMATION
TECHNOLOGY
2.4 GLOBALIZATION
OF BANKING
INDUSTRY
2.5 THE
CONCEPT OF UNIVERSAL
BANKING
2.6 PERFORMANCE
EVALUATION OF NEW PRODUCTS IN THE BANKING
INDUSTRY
2.7 REVIEW
OF OTHER RELATED COMPLETED
RESEARCH
WORK
2.8 SUMMARY
AND JUSTIFICATION
REFERENCE
CHAPTER THREE
RESEARCH
DESIGN AND
METHODOLOGY
3.1 RESEARCH
DESIGN
3.2 AREA
OF
STUDY
3.3 RESEARCH
POPULATION
3.4 SAMPLING
SIZE
DETERMINATION
3.5 SAMPLING
PROCEDURE
3.6 SOURCE
OF DATA
USED
3.7 LOCATION
OF
DATA
3.8 METHOD
OF DATA
COLLECTION
3.9 METHOD
OF DATA
ANALYSIS
3.10 STATISTICAL
TOOLS FOR ANALYSIS
REFERENCE
CHAPTER FOUR
DATA
PRESENTATION AND
ANALYSIS
4.1 DATA
ANALYSIS AND
INTERPRETATION
4.2 QUESTIONNAIRE
PRESENTATION
4.3 TEST
HYPOTHESIS
4.4 FINDINGS
CHAPTER FIVE
SUMMARY OF FINDINGS,
RECOMMENDATION AND CONCLUSION
5.1 SUMMARY
OF
FINDINGS
5.2 RECOMMENDATION
AND CONCLUSION
5.3 SUGGESTION
FOR FURTHER
RESEARCH
BIBLIOGRAPHY
APPENDICES
LIST OF ABBREVIATIONS
C.B.N.: Central Bank of
Nigeria
NEPA. : NATIONAL
ELECTRIC POWER AUTHORITY
NITEL. : Nigeria
telecommunication
I.M.F. :
International Monetary Funds
LIST OF FIGURES
Fig 1
: graph of confidence level
Fig 2 : graph of
confidence level
Fig 3 : graph of
confidence level
Fig 4 : graph of
confidence level
CHAPTER ONE
BACKGROUND OF THE STUDY
The history of banking
in Nigeria dates back to pre-independence period, the establishment of banks
was motivated by the urge on the part of government to inculcate banking
culture in the people and the desire of the people themselves to find the means
of making financial intermediation easy,
In the recent time
between 1999 – 2004, a lot of techniques are used by bankers to facilitate
customers services and customers satisfaction which has led to the introduction
of the new products developed in the banking industry. These new products
developed in the banking industry today revolves around electronics banking and
information technology.
As a result of this, the
researcher seeks to study the performance and evaluation of the new products
developed in the banking industries between (1999 – 2004)
1.2 STATEMENT
OF THE PROBLEM
This research is
designed to find out the performance and evaluation of the new products
developed in the banking industry between 1999 – 2004.
Therefore the statement
of the problem in the research work remain thus to what extent has the new
product in the banking industry today been able to meet customers satisfaction.
In looking at the statement of the problem, one need to bear in mind that some
customers needs that are peculiar to their own circumstances while some come
for reasons that could be general. The ability of this new products in the
banking industry is to meet customers needs and facilitate their satisfaction
to determine their efficiency.
1.3 OBJECTIVE
OF THE STUDY
In the view of the
problems identified, this study will achieve the following objectives.
1 to
identify the delivery strategies of the new products and services in our banks.
2 To
find out if the new products developed by banks is convienent to customers.
3 To
find out if these new products developed by banks satisfies customers needs.
4 To
evaluate if fund transfer is one of the performance of the new products
developed by banks.
5 To
find out if inadequate infrastructure level is among the problems of the new
products in the banking industry
1.4 RESEARCH
QUESTIONS
1 What
is the delivery strategies of the new products and services in our banks?
2 Is
new products developed in the banking industry convenient for customers?
3 Could
those new products developed by banks satisfies customers needs?
4 Is
fund transfer is one of the performance of the new products developed by banks?
5 Is
inadequate infrastructure level is among the problems of the new products in
the banking industry?
1.5 RESEARCH
HYPOTHESIS
The following hypothesis
are drawn from the study using null (Ho) and alternative hypothesis (Hi)
Ho:
new product by banks have not increased customers patronage.
Hi:
new product by banks have increased customers patronage.
Ho:
customers did not derive satisfaction from patronizing the new products.
Hi:
customers derive satisfaction from patronizing the new products.
1.6 PURPOSE
OF THE STUDY
This research is aimed
out for academic purpose to meet the requirement for the award of the Higher
national Diploma.
1.7 SIGNIFICANCE
OF THE STUDY
This study will be
capable of widening academics by acting as a guide for researchers. therefore
banks constitutes themselves into a very powerful instrument for fostering
economic development banks customers today expects a lot from their banks.
Banking performance is no longer just about safety of funds and increased
returns on investment, customers demand courteous treatment from their banks as
well as efficient, fast and personalized service which meet their needs.
1.8 RATIONALE
AND JUSTIFICATION FOR THE STUDY
At the end of this
research, the following banks, government, general public and future
researchers should stand to benefits there from.
1 bank
customers: they will be exposed to the idea of the new developed product in the
banking industry as to clear their minds to the performances and evaluation of
the new products.
2 Government:
it will act as a starting point arousing government policy in support of the
new product developed in the banking industry which will facilitate economic
development.
3 Banks:
it will help the banks to improve in their services rendered to the customers
as well as efficient fast and personalized services which meet their needs.
4 General
public: this will further encourage savings for more investment and creation of
jobs opportunities for the timing population.
5 Future
researchers: this study cannot be exhaustive of this vital subject so, it is
hoped that the findings and recommendations will appeal to them inquisitive
minds of the readers and other students as to spur them to take further studies
in this area.
1.9 SCOPE
OF THE STUDY
The scope of this study
is limited to performance and evaluation of the new products developed in the
banking industry. Being conducted by the banking industry in particular. Both
primary and secondary data were used in aiming at the findings and conclusion.
1.10 ASSUMPTION
OF THE STUDY
The following
assumptions are made on this research. This research work is free of bias. The
data collected is true, reliable and not fiticious because of the question and
interviews were by answered by the right person. The information replied by the
respondents is reliable because the respondents were honest in replying the
questions and those who cannot give true information were excluded.
The method which
constituted systematic random procedure is not questionable. The chi – square
(X2) method used in testing hypothesis is the most appropriate one.
1.11 DEFINITION
OF TERMS
The following definition
of terms will help those who are not experts in the field to understand certain
technological jargons used in this research.
1.
Performance: The act of achieving a targeted objective.
2.
Evaluation: Bringing two concepts together and seeing the
difference between those two concepts.
3.
Banks: A bank is any institution licensed to carryout business of banking in
Nigeria and they are characterized by acceptance of deposit and facilitating
withdrawal, equipment leasing, bill discounting and other financial
transactions depending on the type of bank. Ukemenam. C. O (2000)
4.
Bank customers: Are people or organization who
have account with the bank and carries financial transaction with the bank.
Iloh. J. C. (2002)
5.
New product: These are
products that are introduced newly into the banking industry to enhance and
facilitate banks services to both customers and bankers. Edemodu. A. (1999)
6.
Universal banking: This is a concept or banking policy which every banks
is free to determine the type of banking transaction they can engage in or a
situation whereby a commercial and merchant banks are free to engage in any
conventional activities of either. Orjih. J. (2001)
7.
C.I.B: Chartered institute of bankers
8.
Banking industry: Is a prominent member of the service of the
Nigerian economy
9.
CBN: Central
bank of Nigeria. Known as the apex regulatory bank for Nigeria financial
system. Ukemenam. C. O. (2000)
10.
Developed: something that is more mature or advanced.
Department | Banking and Finance |
Project ID Code | BFN0064 |
Chapters | 5 Chapters |
No of Pages | 79 pages |
Methodology | Chi Square |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2349067372103 |
Contact Us On | +2349094562208 |
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