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In the past few years, Nigerian banks have embraced the global trend of digitalization
in banking operations. Thus, after the consolidation and recapitalization exercises,
many banks have strengthened and streamlined their facilities, tailored their services
as well as automated their operations. In the heat of competition, banks are now
adding to the stock of e-banking in order to maintain a competitive edge over their
competitors. However, despite the rapid development in electronic banking
innovations, it is not clear whether e-banking innovations have impacted positively
and significantly on banks’ performance in Nigeria. The main objective of this paper
therefore is to estimate the impact of e-banking innovations (ATM transactions,
mobile banking transactions, and point of sales transactions) on the performance of six
selected banks in Nigeria. The study adopts a SURE model in the quantitative analysis
of six selected old and new generation banks. The results indicate that automated
teller machine transactions, point of sale transactions, mobile banking transactions are
major e-banking innovations that contribute to old and new banks’ performance in
Nigeria. The study therefore concludes that the selected banks and other banks should
intensify efforts to increase their asset base and continue to invest in e-banking
innovations in order keep preforming well and also remain profitable. The study also
calls for efficient management and utilization of funds to train and educate bank
workers and general public regularly on how to deploy and use e-banking channels
and other related technological innovations respectively.
