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 customer 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, customer’s device high level of satisfaction from the new products. Inadequate infrastructure 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 sateuite to minimum constant problems.
A parallel organization that was supplying electricity in competition with NEPA be allowed to evolve so that efficient supply electricity can be ensured. Finally, since this study alone cannot be exhaustive of this vital subject, it is recommended for further studies.
