An Evaluation of the Efficacy of Information Technology on the Performance of Selected Banks in Ogbomoso Area of Oyo State, Nigeria.

Abstract

This paper evaluates the efficacy of information Technology on the performance of some selected banks in Ogbomoso area of Oyo State, Nigeria. Three operating banks were selected whereby 103 customers of Intercontinental Bank, Skye Bank and United Bank for Africa were selected using purposive sampling technique. Both descriptive and inferential statistics of a two tailed test were adopted.

The study revealed that customers’ perception on promotion of promptness and efficiency in service delivery by IT does not differ significantly in the selected banks. It was also revealed that IT has been a source of increased productivity for the banks whose have deployed it. This is a direct result of the processing speed of computers and other IT infrastructures, which reduce the time spent in attending to each customer and create new ways through which customer can be served.

To this end, it was recommended that Nigerian banks should from time to time invest in IT infrastructure that will enhance their service delivery. This will further enhance productivity and create greater opportunities for profitability.

Key Words: Commercial Banks, Information Technology (IT), Performance, Efficacy.