Changing trends in electronic banking

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Less than three weeks from today, BusinessDay’s Research and Intelligence Unit will make its 2013 Banking Industry Report available to the public. The 94 page book which is broken into ten chapters is a deliberate effort to examine the banking sectors from different perspectives.
It begins by examining the Nigerian economy and presents an outlook for the economy, it then goes ahead to examine various aspects of the financials of banks, their CSR initiatives and the extent to which they have embraced Basel III.
Apart from these, the report highlights some financing deals struck by Nigerian banks this year, technical analysis on banks stock performance in the past one year and a comprehensive survey on customer perception of banks.
As part of its content, the report throws up a number of trends in electronic banking. The major positive finding in this direction is that, more than ever, customers now use ATMs for accessing funds.
Also, number of POS transactions has increased dramatically within the last one year. Available records indicate that in June 2013 alone, 591,000 transactions worth N11 billion were routed through POS machines across Nigeria. Average monthly number of transactions within this meandered close to the number of transitions recorded in …

Source: BusinessDay

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