EFFECT OF INFORMATION AND COMMUNICATION TECHNOLOGY ON THE PERFORMANCE OF POLARIS BANK, KADUNAAJAYI,

Abstract

This study examines the impact of information and communication technology on Polaris Bank's performance. The research identifies the obstacles that customers face when using mobile banking systems in conjunction with automatic payment machines, point of sale, and mobile transactions. These challenges include network failures, delays, and insufficient ICT infrastructure in rural areas to facilitate innovation. The population for this study comprises 320 staff members, with a calculated sample size of 178 respondents selected through random sampling. Data collection was carried out using structured questionnaires, which were distributed to Polaris bank staff and analyzed through multiple regression techniques to assess the significance of the relationship between the independent variables (ICT) and dependent variables (performance of Polaris bank). The study found that automatic payment instruments, point of sale, and mobile business positively impact Polaris Bank's performance. The study recommended that Polaris Bank should allocate substantial resources toward upgrading its ATM infrastructure, particularly in areas with frequent network failures to improving its effectiveness; the bank should initiate a widespread customer education and empowerment campaign to raise awareness of the capabilities and benefits of POS systems. This will help customers fully utilize these technologies, improving both user experience and overall bank performance and continuous maintenance and upgrade of mobile banking systems are necessary to prevent outages, ensure smooth operations, and enhance customer satisfaction