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All Journal International Journal of Financial, Accounting, and Management
Otonne, Adewumi
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Decision Sciences, Operations Research & Management

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Exploring the influence of financial technology on banking services in Nigeria Otonne, Adewumi; Ige, Olaoluwa Tosin
International Journal of Financial, Accounting, and Management Vol. 5 No. 3 (2023): December
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/ijfam.v5i3.1513

Abstract

Purpose: This study explored the impact of fintech on Nigerian banking services. Research methodology: This study employed a quantitative research approach, analyzing data from the financial statements of selected Nigerian banks, and financial technology application statistics through econometric modelling and descriptive analysis. Results: The study found that Fintech positively impacts Nigerian banks' traditional and market-based performance measures. For example, statistically, a 1 per cent increase in ATM transactions could increase banks' earnings per share by up to N4 on average. This implies that fintech adoption in the Nigerian financial system can increase efficiency, reduce costs, improve the customer experience, and enhance financial inclusion. Limitations: This study had several limitations, such as the unavailability of data for some banks and the limited timeframe due to data unavailability. Contribution: This study contributes to the growing body of literature on fintech in emerging markets by providing insights into Nigeria’s evolving fintech landscape and its potential impact on traditional banking services. Novelty: This study is one of the first to investigate the impact of fintech on Nigerian banking services based on selected case studies and the quantitative research approach employed. This study provides valuable insights for policymakers, regulators, and industry practitioners seeking to promote a conducive environment for fintech growth in Nigeria’s banking sector.
A comparative analysis of the determinants of profitability of commercial and microfinance banks in Nigeria Tosin, Ige Olaoluwa; Otonne, Adewumi
International Journal of Financial, Accounting, and Management Vol. 1 No. 3 (2019): December
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/ijfam.v1i3.135

Abstract

Purpose: The study aims to examine the determinants of profitability of commercial and microfinance banks in Nigeria, in order to be able to highlight the possible effect of Central Bank of Nigeria policy actions in influencing the internal factors and subsequently the profitability of the banks in Nigeria. Research methodology: The study adopted the panel data research design. Out of the total number of 22 commercial banks and 898 microfinance banks the study sampled 4 commercial banks and 4 microfinance banks using random sampling technique, and based on the availability of data. Data were sourced from the annual balance sheets and income statement of banks from 2010 to 2018 and analysed using the Random Effect Panel Estimation Technique. Finding: Findings from the study show that liquidity ratio is not a strong determinant of banks profitability whether commercial or microfinance banks while capital adequacy is a significant determinants of the profit level in both banks with positive effect for microfinance and negative effect for commercial banks. The study also found that real GDP is a significant determinant of only commercial banks profitability. This by implication indicates that the recent policy action by the central bank which saw the increase of cash reserve ratio from 22.5% to 27.5% is expected to have an insignificant reduction on the profitability of the banks. Limitation: The major limitation of the study is the use of a single measure of profitability and a single measure of external factor. The study period as well as its sample size was also considered as limitation. Contribution: Findings from this study are useful to the management of the banks, the selected banks to be more specific, and shareholders. Also, this study provides insights on the possible effect of the recent policy of the Central Bank on the banking sector. Thus, the results of this study are useful to policy makers and regulators of the financial system in Nigeria. Keywords: Profitability, Commercial Bank, Microfinance Banks, Liquidity Ratio, Capital Adequacy, Return on Asset, Real GDP
Exploring the influence of financial technology on banking services in Nigeria Otonne, Adewumi; Ige, Olaoluwa Tosin
International Journal of Financial, Accounting, and Management Vol. 5 No. 3 (2023): December
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/ijfam.v5i3.1513

Abstract

Purpose: This study explored the impact of fintech on Nigerian banking services. Research methodology: This study employed a quantitative research approach, analyzing data from the financial statements of selected Nigerian banks, and financial technology application statistics through econometric modelling and descriptive analysis. Results: The study found that Fintech positively impacts Nigerian banks' traditional and market-based performance measures. For example, statistically, a 1 per cent increase in ATM transactions could increase banks' earnings per share by up to N4 on average. This implies that fintech adoption in the Nigerian financial system can increase efficiency, reduce costs, improve the customer experience, and enhance financial inclusion. Limitations: This study had several limitations, such as the unavailability of data for some banks and the limited timeframe due to data unavailability. Contribution: This study contributes to the growing body of literature on fintech in emerging markets by providing insights into Nigeria’s evolving fintech landscape and its potential impact on traditional banking services. Novelty: This study is one of the first to investigate the impact of fintech on Nigerian banking services based on selected case studies and the quantitative research approach employed. This study provides valuable insights for policymakers, regulators, and industry practitioners seeking to promote a conducive environment for fintech growth in Nigeria’s banking sector.
Co-Authors Ige, Olaoluwa Tosin Tosin, Ige Olaoluwa