The Entrepreneurship and SME's Research Institute (ESRI) is a registered vocational and research institute Information Technology in the banking industry is very important and inevitable in all the modern banks in Nigeria for better performance and productivity to be enhanced fully in view of the competitiveness and homogenization of banking services. Banks are organic systems set up by individuals for the achievement of mutually beneficial objectives.The realization that underlies the need for banks to continually examine their immediate operating and larger environment, given the very tasking condition facing firm especially modern bank in the country today; there is every need for them to utilize properly all the management and technical tools and processes at their disposal.


Therefore information technology (IT) serves as an instrument to satisfy bank customers. Its creative adoption and applications which are critical to the success of any business endeavor no matter how its operating environment which it neglect on the other hand inevitably to contribute to the downfall of organizations there are no doubt that there now exist a general awareness of the need for its adoption. In fact several efforts had been made by banks in the past to incorporate them in the strategic action.
For instance, the setting up of their product and or service development department which was responsible for ensuring bank’s products and or service and ideas were sold right to various customers. There is research and corporate affair department as the name implies which is involved in research and strategic planning alongside this effort there were relationship officers who are attached to corporate customers these staffs are charged with liaising with customers to ensure that they are satisfied with banking services the bank is given to them.

Customers now have a variety of options to choose from the different banks that offer different services, and they are consequently becoming complex and fastidious. In this situation, banks concentrate their effort in capturing and retaining their customers by providing efficient services. Information Technology as it is it is still in its infancy in Nigeria and has already redefined some aspects of our way of life. In the new revolution, modern technology became the driving wheel for the society information and it is more important than ever before the level of advancement in the society led to an unprecedented information deluge. Prior to this stage, the challenge was how to have access to information which was scanty and very slow in circulation, the new dispensation access to information was no longer as important as its management. In view of this development information management has today become a key factor in competitiveness and consequently spawned its own industry to become vibrant and growing

He further explained that “Part of the many ways being explored by actors in the banking industry today to remain afloat and effectively defend their businesses from the wrath of competitors is by adopting Information Technology principles on their operations. They identify, anticipate and introduce new products that meet customer’s requirement efficiently and profitably this has ensured banks continued patronage from existing clients and open new avenue for larger marketing-oriented business coverage”.

 
 
   
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