IMPORTANCE OF INFORMATION AND

COMMUNICATION TECHNOLOGY TO

BANKING OPERATION

UBA AT A GLANCE

AFOLABI OYEWOLE OYEFESOBI

PM1007 (Principles of ICT)

CRIC ID- OYAOP02

NOV 2010
 Table of Contents

1. Introduction...............................................................................................................1

2. The banking industry in Nigeria..............................................................................1

3. Application of computer in UBA bank...................................................................1

4. Customer service unit..............................................................................................2

5. Account department.................................................................................................2

6. Marketing department..............................................................................................3

7. Administrative department......................................................................................3

8. Computer department..............................................................................................4

9. Role in decision making...........................................................................................6

10. Conclusion……………………………………………………………………………….. ..7

1. Introduction

ICT refers to Information and Communication Technology. It covers things like computers,

audio, video, telephone, Banking operation system and services particularly when combined

with strong skills, management as well as innovation.

ICT, if developed well can be used for an intended purpose to give a significant boost to the

banking operation the banking sector. ICT provides information on customer details who

operate their account in the bank where ever they find them self. The operation department is

one of the busiest departments in the banking industries, other information include daily

transaction by customer, and track monitoring of their accounts, even on investment in IT

itself and other assets.

This essay will discuss the importance of ICT in the operating sector of the bank. The case

study is UBA

At UBA there are so many activities that incorporate ICT in one way or the other. These are

described below.

2 the banking industry in Nigeria

In the year 1892-1952, there was an inquiry by the colonial administration to investigate the

Nigeria banking sector. This lead to the banking ordinance that was designed in 1952, this

was used to control commercial banking in Nigeria. In 1959 the central bank came into full

operation. The central bank became the mother of all banks in Nigeria. The banking sector

since then has grown over the years, it laws was amended over time, in order to suit into

today’s professional banking operation system.

The bank use of capitalism has made the banking sector to be very strong, against the earlier

failure by the central bank to control the fall of many merchants’ banks in the early 1990-1991
Today Nigeria banking sector has become a force to reckon with in the international world.

3. APPLICAION OF COMPUTER IN UBA BANK

The study of banking operation in UBA has change for good, industry watchers and analysts

are happy with technological innovation and creativity. It has brought about dynamic of

banning operation in the last few years. Some form of the electronic use of computer in UBA

banking operation is the electronic banking. This involves banking with either personal

computer or the Automated teller machine (ATM).the ATM this is located at different

geographical area for customer to have easy access to their funds, even when the bank is

closed over the weekend. Transaction can still be carried to using the ATM machine money

can easily be wire to another person account through the ATM. The ATM has drastically

reduced the long queue in the banking hall. Most of the ATM are connected to their local

branches with a powerful software.

4. CUSTOMER SERVICE UNIT

This is a unit in the operation department in the banking sector this section help to deal with

all customers need and enquires, with the use of ICT this section of the bank in uba have

really have less customer sitting I front of their desk queuing up to be attended to, now al a

customer need to do is to cal the customer service form home or email can be sent and all the

problems the customer is having relating to his account if his attention is not needed

physically will be attended to.

5. Account department:

The use of ict has immensely aided this section of the banking operation in UBA, all it

records, their asset and liabilities of the bank, which was considered as the income and

revenue obtained from daily returns through the computer, the accountant in UBA can check

any department and access a customer ledger.

6. Marketing department

In this section of the banking operation in UBA it has help to reduce the stress faced by public

relation officer in the banking industry which UBA staff are no exemption, unlike before the

introduction of ICT most public relation officer have to meet their client on a daily basis in

order to make sure they open a specific account I order for them to meet their target, but with

the use of mobile communication ,they can easily follow their client interest on the phone

while they go out less often to get new clients.

7. Administrative department

The adminministrative department of UBA helps in keeping the banking activities, records

with the use of computer they have full and comprehensive information about the bank. the

admin section is one of the busiest section in UBA since they are the large bank in the whole

of Africa and have the largest branch, they handle all the administrative issues on all of this

branches .but with the use of ICT it has made the work to be less stressful.

8. COMPUTER DEPARTMENT.

In this department in UBA all daily transaction carried out by the bank are recorded in this

section of the bank. Activities going on in other branches are also monitored by the computer

section which is normally suituated at the head office they have a central unit that over see all
the activities of all transaction carried out all the branches.

9. Role in Decision Making

A very important use of ICT is to help make decisions both at the operational and strategic

(management) levels within UBA. It helps to provide accurate data to ensure that the

resources used are combined in the most efficient way to maximise results at lowest cost.

10. Conclusion

The business environment is becoming very competitive. Information technology is providing

businesses with basic and complex tools that will enable them to improve their performance.

This essay has looked at the importance of ICT in the banking operation, it looked on how ICT

has help different department in the banking operation to perform it duties effectively the the

use of ICT.

In the areas of, accounts, ATM, administrative and in service delivery to customers ICT has

really help the banking industries to achieve a lot.

This essay has also highlighted how ICT help UBA to meet up with their customer demand

especially in the customer care unit were all customers’ information, and their entire problem

relating to their accountable being solved, either by phone or by email.

For every business to grow efficiently well, it need ICT to in achieving that, because as it now

most business activities is based on the use of computerized machines.

The importance of ICT cannot be ignored in banking operations

Reference:

http://www.cenbank.org/aboutcbn/history.asp 23/10/2010

Loure Greene (1983) careers in the computer industry. A computer awareness first book page

90-96

http://www.ubagroup.com