1.0 Introduction
1.1 Background of the Study
Information technology is a body of tools with the convergence of communication and computer. It is also series of machine, which can execute sequence of instructions. The sequence of instruction is a program made particularly flexible and not rigid and can be change depending on the information being processed (Goldberg, 2009). The new millennium brought with it new possibilities in terms of information access and availability simultaneously, introducing new challenges in protecting sensitive information from some eyes while making it available to others.
The application of information and communication technology concepts, techniques, policies and implementation strategies to banking services has become a subject of fundamental importance and concerns to all banks and indeed a prerequisite for local and global competitiveness. Information Technology Communication (ICT) is the automation of processes, controls, and information production using computers, telecommunications, software and ancillary equipment such as automated teller machine and debit cards (Khalifa 2000).
It is a term that generally covers the harnessing of electronic technology for the information needs of a business at all levels. Irechukwu (2000) lists some banking services that have been revolutionized through the use of ICT as including account opening, customer account mandate, and transaction processing and recording.
Communication Technology deals with the Physical devices and software that link various computer hardware components and transfer data from one physical location to another (Laudon and Laudon; 2001). ICT products in use in the banking industry include Automated Teller Machine, Smart Cards, Telephone Banking, MICR, Electronic Funds Transfer, Electronic Data Interchange, Electronic Home and Office Banking.
The internet is revolutionizing sales techniques and perceptions of leading brands, and the internet is intensifying competition in all its forms. Banking are continuing to use the internet to add value for their customers; but in order for this to work effectively − maximizing opportunities, reducing risks and overcoming problems − an E-Banking strategy is required as an impact. The growth of the Web and Internet as new channels, the growth in their use by customers, the growth in their use by customers, and the floor of companies entering the market, presents a series of key challenges to companies. It is easy and cheap to put up a website. But to create an environment delivering effective service on the Web to a significant proportion of your customer base requires an E-Banking strategy.
Woherem (2000) claimed that only banks that overhaul the whole of their payment and delivery systems and apply ICT to their operations are likely to survive and prosper in the new millennium. He advices banks to re-examine their service and delivery systems in order to properly position them within the framework of the dictates of the dynamism of information and communication technology.
Therefore, in Nigeria where the research was carried out, the activities that was conducted is to know the Utilization of ICT in an Organizational Performance.
1.2 Statement of Problem
Investigation revealed that information technology has become a critical business resource and its absence could result in poor decision and ultimately business failure. As such many banks and financial institutions have failed in the past due to their inability to utilize information technology in marketing their financial services as well as their operations. Today’s business environment is very dynamic and undergoes rapid changes due to technological innovation, increased awareness and increased demands from customers. The banking industry of the twentieth century operates in a complex and competitive environment characterized by these changing conditions and highly volatile economic climate, and information and communication technology ICT) is at the centre of this global change curve (Agboola, 2006).
Given this scenario, this thesis attempts a synthesis of empirical facts on the extent to which information and communication technology has informed innovations in the operational modalities and service delivery modes of banks in Nigeria and the impact of this on bank performance. It is against this background that the subject matter is seen as a problem worthy of investigation.
1.3 Aim and Objectives of the Study
The aim of the study is to examine the Utilization of ICT in an Organizational Performance using United Bank of Africa (UBA), Aba in Abia State as a Case Study. In achieving this aim, the following specific objectives were laid out as follows:
- To evaluate the relationship between ICT and organisational performance exists;
- To determine what extent information technology (I.T.) facilitates information in the study area; and
- To investigate the attainment of more effective information with the use of information technology.
1.4 Research Questions
The study came up with research questions so as to be able to ascertain the above stated objectives. The specific research questions for the study are stated below as follows:
- Can any organization achieve its goals without ICT?
- Does ICT assist the organization in decision making?
- Does ICT have any relationship with organisational performance?
- Does information technology improve the performance of organisational processes?
- What is the relationship between ICT and organisational performance exists?
- To what extent does information technology (I.T.) facilitates information in the study area?
- How can organization use information technology to bring out efficiency and effectiveness?
- What is the relevance of ICT in an organization?
- To what extent does information technology require service of highly skilled accounting processes?
1.5 Research Hypothesis
In order to pursue the objective of this study, the following generalized statements have been designed to guide and aids in obtaining the result for the experiment to be conducted. For this work, the null hypothesis will be represented with H0 while the alternative hypothesis will be represented with hypothesis H1.
Hypothesis One
- H0: Information and communication Technology does not assist organization in decision making.
- H1: Information and communication Technology assist organization in decision making.
Hypothesis Two
- H0: There is no significant relationship between ICT and organisational performance.
- H1: There is significant relationship between ICT and organisational performance.
1.6 Significance of Study
An assessment of the impact of ICT in Nigeria tends to identify not only the increasing importance of IT, but also the vital roles played by ICT in the Nigerian banking institution with particular reference to First Bank Nigeria Plc.
The UBA Bank is one of the dominant sectors of the Nigerian economy. The banking sector has been defined and dedicated the pace of economic, political, social and cultural progress of the nation.
The significance of study tends to examine the efficacy of ICT on organisational performance in Nigeria. The importance of the study is basically on how IT influences performance. ICT possess a great advantage on the organisations and to the entire world. Hence, the assessment of the relevance of this study is essential for the following reasons:
- To appraise level of organization growth through information collated;
- To assess the relevance of ICT to organization decision making; and
- To enhance management appraisal of operation and performance through the use of ICT.
1.7 Scope of the Study
The scope of this research is focused on the Utilization of ICT in an Organizational Performance using United Bank of Africa (UBA), Aba in Abia State as a case study.
1.8 Limitations of the Study
During the course of this study, many things militated against its completion, some of which are:
- Time Constraint: The time frame given to accomplish this project was very short due to school academic calendar and it was carried out under pressure which made the researcher not to implement some necessary features.
- Research material: availability of research material is a major setback to the scope of the study.
- Frequent power failure: This made the researcher append more money on fuel to ensure sustainable power.
- Financial Constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
1.9 Definition of Terms
Computer: Is an electronic device which is capable of solving complex problem quickly and accurately
Data Processing: Is the process of collecting, recording, filling, calculating and disseminating of facts related to the physical event occurring in business.
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