Is E-banking in Nigeria any good ? Ways you can be certain.

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Technology is taking over in almost every sectors of our country, most especially in the financial sector, lots of innovations, but the question is E-banking in Nigeria any good?

We will be certain as we move further in this post, where we will be looking at this innovation critically to see how it affects us.

Looking at the  statistics at our disposal as it were made available by in 2018, 84.3 million people out of the Nigerian population are using internet and 20.5 million of this number are using mobile phone.

What is E-Banking ?

E-banking is an online banking, also known as internet banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution’s website. It is a part of core banking system, in otherwords  you don’t need to go to  any  bank for transactions, just sit at home and run your transactions effortlessly.

The innovators aims and objectives is to reduce if not remove completely the queue in the banking hall and at the same time render the same services to the bank customers 24/7, and this is what will refer us back to our initial question “Is E-banking in Nigeria any good ?”

In the Nigerian banks, people still queue up in the line just to transfer money to somebody, the most funniest part of it is that the same person will be busy chatting on social media  with his or her phone.

Another question is why would you spend 2hrs in the banking hall just to check your account balance? meanwhile you have what it takes to do all your bank transactions in the comfort of your bed, which is mobile phone and internet.

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What are the benefits of E-banking ?

1. Customers’ Satisfaction
Electronic banking (ebanking) has tremendously improved the services of some banks to their customers in terms of satisfaction.

2. Financial benefits
E-banking provides customers with a wide
range of financial benefits such as lower transaction handling fees, higher deposit rates,
opportunities to win prizes and extra credit
card bonus points.

3. It saves time It allows customers to
save time by conducting their transactions
quickly without having to queue up for the whole day and to
use paper documents in the banking hall.

4.Interactivity, E-banking offers
customers the opportunities to interchange
electronic data to communicate with bank
staff with a view to enhancing customers’

Change they say is always constant, technology has come to stay, we need to embrace it and we must queue in this innovations that are coming up if we really need to grow as a country.

With all these benefits yet Nigerians are still queuing up in the banking hall for transactions.

Will you blame anybody for not using the E-banking system ?

Do you know their reasons for not using this technology ?

All these questions will be answered, we will find out in our future post why Nigerians are afraid of using E-banking system and other disadvantages of this technology in our  country.

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Valen Pat
Valen Pat
Is a blogger, a problem solver and a solution provider. I love writing about the trending things, tech developments especially on internet security and blogging

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