Chapter One
INTRODUCTION
1.1 Background of the Study
The world is a global village. It is due to the global state of the world that bedsore became such an organic economic activity armed at producing goods and services. In this light of this organic nature of business, it constantly changes with improvement in science and technology. Business men and women have seen the need to also change their mode of carrying out business activities in order to keep abreast with the current practice and to effectively face the constant and new challenges experienced on the business. This growing expectation challenges prompt the business community into evolving means to smoothen the performance of business. There are number challenges of business. These challenges are characterized by the constant changes in trade of customer as well as the competition in the business circle by other competitors, all towards achieving or controlling the patronage of the majority of the customer in the entire industry. Many banks in the part has strive to improve their counter services and reduce to the minimum the waiting time for such service by employing more staff to cope with increasing number of customers. But his did not yield much result with the advert of information technology bank like all Eco bank had office has been able to automate some aspect, if not all their operation and this has resulted to lower cost in terms of paid salaries to staff and wasting of customers. With the help of information technology in Ecobank, according to information systems, the decision making proves, loans and credit evaluations and other banking services have been very efficient. The Ecobank head office having realized the existence in the competitive economy depends on the level of information technology adopt it protectively. That the range of information technology adopted Ecobank must be determined by the peculiarity of its customer. Thus, to compete favourable and effectively in the work of today’s complex business environment, the business has to keep itself abreast with the dynamic changes and also adopt new methods currently practiced all over the worlds, i.e, by most success and business. To this end this research world is set to study and research on “using management information system (MIS) to improve customers service and growth in the banking industry.
Information for the modern organization is a resources parelled in importance to land, labour and capital. It is very vital and priceless resources for centuries, man has tried to collate, store, process and retrieved information and most importantly distribute or communicate it by the available fastest mean. It follows, therefore that man has tried various ways and methods to record and disseminate information in his attempts to proer solution to competing tasks over the centuries. Information therefore is data that have been processed into meaningful and usable form, and it contains knowledge that reduces uncertainly in particular situation. However, information technology (I.T) is a term, which generally covers the harnessing of electronic technology for the information needs of business at all levels. It is a computer based system as well as telecommunication technology for storage, processing and dissemination of information. It is no longer a news that we are now in information age that is characterized by an ever-changing information technology revolution and an information superhighway on which every corporate entity and profession must move, if it is to survive in the 21st century. What is news, it that many professionals in developing countries like Nigeria do not seem to be ready or prepared to embrace this information technology or revolution and join its superhighway as a means for survival and that many practitioners are among such luggards. This is quite unfortunate because the world of business and governance in the information age is further complicated by such concepts like democratization, competition, deregulation, privatization, commercialization, liberalization, globalization, internationalization and computerization.
1.2 Statement of the Problem
Information technology is entrepreneurial activity that information as a corporate resources should be managed and it greatly increase the opportunities that are available. The operation of most banks in Nigeria are done manually with the aid of a calculator and writing machine. The banks do not recognize computers in their operations. The data processing and execution of transactions as well as their entire system for the purpose of record keeping are all done manually. The waiting time for bank services had led to frustration and dissatisfaction of quite a number of customers. Another big problem facing the banking sector today is fraud, which has established the banking sector to the point of lack of confidence from the average customer. Most banks do not put their customers in the prime place as they supposed to be. These is new keen completion and to compete means to apply the marketing the other ends created negative patronage from public saving and other transaction through the bank which resulted to loss of revenue. For the bank as well as how the implementation process should be to achieve an effective computation of the bank so as to achieve greater participation by customer for the overall interest of customer and their bank as a whole. This study is aimed at researching on the effect of information technology on the marketing of banking services