An Evaluation Into The Nature, Problems And Prospects Of The New Products Developed In The Banking Industry 1990 – 2003

ABSTRACT

This research studied the evaluation into the Nature, problem and prospect of the New product developed in the banking industry from 1990-2003.

In this research work, the researcher chose four of the products and measures the extent to which they have been able to satisfy the customers. The product selected are, SMART CARD, INTERNATIONAL MONEY TRANSFER, EDUCATIONAL SCHEME AND INTEGRATED NET WORK TRANSACTION.

Data for this research were collected though questionnaire and interviews by bank customers and the review of existing literature on the topic using simple random procedure and the descriptive method of research. The data so collected were analysed using the simple percentage and the formulated hypothesis were tested with chi-square (X2) method.

Some of the findings are, the nature of the new product ca be measured in terms of accessibility, speed, timeliness, simplicity and reliability. Customers who patronize this products are mainly those who want money transfer both locally and internationally. Customers derived high level of satisfaction from the New products. Inadequate infrastructural level in our banking industry and high cost of installing them contributed to the problems of the New Products.

Based on the findings, the following were recommended, that banks should come together and establish a common data communication satellite to minimize constant problems.

A parallel organization that was supplying electricity in competition with NEPA should be allowed to evolved so that an efficient supply of electricity can be ensured.

Finally, since this study alone cannot be exhaustive of this vital subject, it is recommended for further studies.

 

TABLE OF CONTENTS

Title page

Approval page

Dedication

Acknowledgement

Abstract

Table of contents

CHAPTER ONE

1.1Background of the Study

1.2Statement of the Problems

1.3Objective of the Study

1.4Research Questions

1.5Research Hypotheses

1.6Significance of the Study

1.7Scope, Limitations and Delimitation

1.8Definition of Terms

Reference

CHAPTER TWO

Review of Related Literature

2.1New Products for Effective Banking Operation

2.2The Nature of the New Products in the Banking Industry

2.3Information Technology

2.4Globalization of Banking Industry

2.4The Concept of Universal Banking

2.5Prospects and Problems of the New Products in the Nigeria

2.6The Review of Other Related Completed Research Work

2.7Summary and Justification

Reference

CHAPTER THREE

3.0Research Design and Methodology

3.1Research Design

3.2Area of Study

3.3Population

3.4Sample and Sampling Techniques

3.5Instruments of Data Collection

3.6Method of Data Presentation

3.7Method of Data Analysis

Reference

CHAPTER FOUR

4.1Data Presentation and Analysis

4.2Questionnaire Presentation and Analysis

4.3Test of Hypotheses

CHAPTER FIVE

Findings, Recommendation and Conclusion

5.1Summary of findings

5.2Recommendation

5.3Conclusion

5.4Suggestion for Further Research

Bibliography