Impact of electronic banking technology on customers satisfaction and economic growth in Nigeria

Abstract

Various researchers have studied the impact of e-banking on banks’ performance, banks’ profit, and e-banking challenges, but this study is looking at its impact on both customers’ satisfaction and economic growth. The methodology employed for testing the hypotheses is a statistical parametric test called Pair Sample t-test through the use of SPSS statistical package. The study rejects both null hypotheses which mean that ebanking has improved both customers’ satisfaction and caused economic growth in Nigeria. The study recommends adequate legislation on all aspects of e-banking so that both the operators of the system and the public can be adequately protected. Also, banks should charge low or no fees for e-banking services in order to motivate their customers to take advantage of e-banking services.