CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

In banking sector information technology has opened up new opportunities for the Nigeria banking sector to improve on their services the role of information technology has grown and changed continuously in the banking sector. This explores the socio-economic factors associated with the adoption use of ICTS by the banking sector of a total of 54 socio-economic factors considered exactly 50% were found to have significant influence on the adoption and success of ICT application in the banking sector.

The banking industry has used IT to enable increase in the volume of transaction as well as the development of new products the use of information technology has changed from back office (check and accounts) processing mortgage and loan application processing and the electronic funds transfer to more strategic innovations such as automated teller machines and new kind of securities the use of information technology has also some important customer supplier effects for the customer of service providers. It has been used to improve the quality and variety of services in the banking sector.