Tag Archives: point of sale

Effect of Financial Products on the Performance of Selected Deposit Money Banks in Nigeria: 2005-2019, (Published)

This research study investigated the effect of financial products on the performance of selected deposit money banks in Nigeria. The study sought to ascertain whether the various products introduced by the banks in the face of keen competition have significantly impacted on their performances. Secondary data were utilized and sourced from annual reports and Nigerian Stock Exchange fact books. Multiple regression was used as a tool of data analysis. The results from test of the three hypotheses revealed that, mobile banking has significant positive effect on return on assets (ROA), point of sale has positive significant effect on return on equity (ROE) while automated teller machine also have positive significant effect on earnings per share (EPS). The study therefore recommended that, there is need for deposit money banks to heavily invest in technology as this will highly encourage the adoption of financial products technologies and this will influence the performance of deposit money banks in Nigeria. Banks management should strive to innovate better and cheaper ways of serving customers. With shorter transaction turnaround time, transactions volumes can be significantly increased.

Keywords: Automated Teller Machine, Deposit Money Banks, financial products, mobile banking, point of sale

Cashless Policy and the Performance of Deposit Money Banks in Nigeria (Published)

The main objective of the study is to investigate the effect of cashless policy on the performance of deposit money banks in Nigeria (2009-2018). The specific objectives are to: Investigate the effect of automated teller machine, examine the effect of point of sale, assess the effect of mobile banking, and to examine the effect of internet banking respectively on the performance of deposit money banks in Nigeria. We employed Econometric techniques involving Descriptive Statistics, Augmented Dicker Fuller and Philip Perron Tests for Unit Roots and the Autoregressive Distributed Lags (ARDL) for cointegration and coefficient analysis. The result of the study indicates that Automated Teller Machine (ATM) and Internet Banking each has a positive and significant effect on return on equity (ROE). Point of Sale (POS) has a positive but insignificant effect on return on equity, while Mobile Banking (MB has a negative and statistically significant effect on ROE, The study thus concludes that cashless policy has positively affected the performance of money deposit banks in Nigeria. The study recommends that government should provide uninterrupted power supply and adequate communication link while shortfalls should be covered by banks through back-up arrangement to power standby generator in case of power outage.

Keywords: Automated Teller Machine, Internet Banking, Nigeria, economic growth, mobile banking, point of sale