TECHNOLOGY INNOVATION AND THE PERFORMANCE OF ZENITH BANK PLC, GWAGWALADA, FCT-ABUJA

Abstract

Despite substantial efforts by monetary authorities to improve banking operations, Zenith Bank Plc in Abuja and other financial institutions in Nigeria still encounter various inefficiencies. This study focuses on “technology innovation and the performance of Zenith Bank in Abuja,” specifically examining how the adoption of mobile banking technology and the introduction of biometric authentication systems affect operational efficiency at Zenith Bank Plc. A descriptive research design was utilized, targeting a population of 470 employees from Zenith Bank Plc in Abuja. A sample size of 216 respondents was determined using the Taro Yamane statistical technique. Data were gathered through a structured questionnaire, with a simple random sampling technique employed for participant selection. The validity and reliability of the instrument were assessed using Cronbach’s alpha, resulting in an average score of 0.80. The collected data were analyzed through regression analysis using SPSS version 27.0 to test the proposed hypotheses. The findings indicated that the adoption of mobile banking technology and the implementation of biometric authentication systems significantly improve the operational efficiency of Zenith Bank in Abuja. The study recommends that Zenith Bank continue to invest in and enhance its mobile banking technology, ensuring that updates align with user needs and preferences.