THE IMPACT OF INTERNET BANKING ON PROFITABILITY OF COMMERCIAL BANKS IN NIGERIA (A CASE STUDY OF FIDELITY BANK PLC)
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- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
STATEMENT OF THE PROBLEM
The vast majority of the recent literature on electronic money and banking suffers from a narrow focus. It generally ignores internet banking entirely and equates electronic money with the substitution of currency through electronic gadget such as smart cards and virtual currency. For example, Freedman, (2000) proposes that internet banking and electronic money consist of three devices; access devices, stored value cards, and network money. Internet banking is simply the use of new access devices and is therefore ignored. Electronic money then is the sum of stored value (smart) cards and network money (value stored on computer hard drives). What is most fascinating and revealing about this apparently popular view is that internet banking and electronic money are no longer functions or processes, but devices.
Within this rather narrow scope for internet banking and electronic money, there are nonetheless many research that address one or more of the challenges facing it. Santomero and Seater (1996), Prinz (1999), and Shy and Tarkka (2002), and many others present models that identify conditions under which alternative electronic payments substitute for currency. Most of these models indicate that there is at least the possibility for electronic substitutes for currency to emerge and flourish on a large scale, depending on the characteristic of the various technologies as well as the characteristics of the potential users.
Berentsen (1998) considers the impact that the substitution of smart cards for currency will have on monetary policy, arguing that although electronic substitutes for currency will become widespread, monetary policy will continue to work as before because this currency substitution will leave the demand for central Bank reserves largely intact. Goodhart (2000) discusses how monetary control would work in an economy in which Central Bank currency has been partially or completely replaced by electronic substitutes.
Friedman (1999) point out that internet banking presents the possibility that an entire alternative payment system, not under the control of the Central Bank may arise. In an extreme variant of Friedman, King (1999) argues that today computers make it at least possible to bypass the payment system altogether, instead using direct bilateral clearing and settlement; the responses to Friedman.
1.3 OBJECTIVES OF THE STUDY
The main objective of this study is to examine the impact of internet banking on profitability of commercial banks in Nigeria, using Fidelity bank plc as a case study. Specific objectives of the study are:
- To examine the relationship between Automated Teller Machines Installed and profitability of Fidelity bank plc.
- To examine the relationship Point on Sale Channels issued and profitability of fidelity bank plc.
- To examine the relationship between debit/credit cards issued to customers and profitability of Fidelity bank plc.
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