CHAPTER ONE

INTRODUCTION

1.1     Background of the Study

Today’s business environment is very dynamic and undergoes rapid changes as a result of technological innovation, increased awareness and demands from customers. Business organizations, especially the banking industry of the 21st century operates in a complex and competitive environment characterized by these changing conditions and highly unpredictable economic climate. in contemporary time the banking system has witnessed a lot of innovation and development in the area of introduction Automated Teller Machine (ATM), telephone banking, internet banking, branch networking, interbank fund transfer and the most recent of all which is now a fad in the banking industry which is the Cashless attention which tend to reduce the amount of money in circulation in the economy.

Information and Communication Technology (ICT) is at the forefront of these global changes. the question now arises ”what is information communication technology”, information can be referred to as processed data or output i.e. any development or action that is meant to be worked upon effects decisions .Irechukwu (2010).