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Electronic Commerce, Automation and Online Banking in Nigeria: Challenges and Benefits

Electronic Commerce, Automation and Online Banking in Nigeria: Challenges and Benefits

Stephen A. Ojeka, O. Ailemen Ikpefan
Copyright: © 2012 |Volume: 3 |Issue: 1 |Pages: 16
ISSN: 1947-8305|EISSN: 1947-8313|EISBN13: 9781466610293|DOI: 10.4018/jide.2012010102
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MLA

Ojeka, Stephen A., and O. Ailemen Ikpefan. "Electronic Commerce, Automation and Online Banking in Nigeria: Challenges and Benefits." IJIDE vol.3, no.1 2012: pp.11-26. http://doi.org/10.4018/jide.2012010102

APA

Ojeka, S. A. & Ikpefan, O. A. (2012). Electronic Commerce, Automation and Online Banking in Nigeria: Challenges and Benefits. International Journal of Innovation in the Digital Economy (IJIDE), 3(1), 11-26. http://doi.org/10.4018/jide.2012010102

Chicago

Ojeka, Stephen A., and O. Ailemen Ikpefan. "Electronic Commerce, Automation and Online Banking in Nigeria: Challenges and Benefits," International Journal of Innovation in the Digital Economy (IJIDE) 3, no.1: 11-26. http://doi.org/10.4018/jide.2012010102

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Abstract

Electronic banking has been around for some time in the form of automatic teller machines and telephone transactions. More recently, it has been metamorphosed by the Internet with a new look and delivery channel for banking services that benefits both customers and banks. The objective of this paper is to find out the correlation between the anticipated benefits/challenges and encountered benefits/challenges. This paper empirically adopted the use of survey research to explore in quantitative terms the various challenges and benefits e-business poses to Nigerian businesses, with particular reference to Banking and Finance Industry. It was found out that there is a statistically significant difference between the anticipated and encountered benefits and major challenges in the potential security breaches faced by the customers. Constant training of employees both local and international on new development in online trading should be encouraged.

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