{"id":8769,"date":"2024-09-30T15:25:25","date_gmt":"2024-09-30T14:25:25","guid":{"rendered":"https:\/\/icertpublication.com\/?page_id=8769"},"modified":"2024-09-30T19:26:23","modified_gmt":"2024-09-30T18:26:23","slug":"exploring-the-impact-of-innovation-practices-technologies-on-the-operational-efficiency-of-commercial-banks-in-nigeria","status":"publish","type":"page","link":"https:\/\/icertpublication.com\/index.php\/shodh-sari-2\/sodh-sari-vol-3-issue-4\/exploring-the-impact-of-innovation-practices-technologies-on-the-operational-efficiency-of-commercial-banks-in-nigeria\/","title":{"rendered":"Exploring the Impact of Innovation practices, Technologies on the Operational Efficiency of Commercial Banks in Nigeria"},"content":{"rendered":"\t\t
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Exploring the Impact of Innovation practices, Technologies on the\nOperational Efficiency of Commercial Banks in Nigeria<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Otosi, F.Bassey<\/span>1<\/span><\/span>, Faithpraise, Fina.O<\/span>2<\/span><\/span>, and Ubi, Ije<\/span>3<\/span><\/span><\/p>

1<\/span><\/span>Business Management, Faculty of Business Management, University of Calabar, Nigeria <\/span>2<\/span><\/span>Computer Engineering, Faculty of Engineering and Technology, University of Calabar, Nigeria<\/span><\/p>

3<\/span><\/span>Business Management, Faculty of Business Management, University of Calabar, Nigeria<\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Abstract<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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In the rapidly evolving financial landscape, innovation has become a critical driver of operational efficiency for commercial banks. This study explores the impact of technological and process innovations on the operational efficiency of commercial banks in Nigeria. It aims to understand how innovative practices and technologies influence cost reduction, service delivery, customer satisfaction, and overall financial performance. Using a straightforward random sampling technique and a descriptive survey design, the study selected 388 participants at random from the 97,026 commercial bank employees in Calabar Metropolis, Cross River State, who make up the entire population. The research employs a mixed-methods approach, combining quantitative data analysis from financial reports of major Nigerian banks with qualitative insights from interviews with banking professionals. The findings indicate that the adoption of digital banking platforms, automated teller machines (ATMs), mobile banking applications, and advanced data analytics significantly enhance operational efficiency. These innovations reduce transaction costs, minimize human error, and improve service speed and reliability. Furthermore, process innovations such as streamlined loan processing and automated compliance checks contribute to more efficient banking operations. The study highlights the high cost of technology implementation, cybersecurity risks, and the need for continuous staff training as the challenges that may hinder innovation to strive. Despite these challenges, the positive impact of innovation on operational efficiency is evident, suggesting that continued investment in innovative technologies and practices is crucial for the competitive advantage and sustainability of commercial banks in Nigeria. The study further recommends that Nigerian commercial banks prioritize technology adoption and process improvements to enhance their operational capabilities and meet the dynamic needs of their customers.<\/span><\/p>

Keywords<\/span>: Innovation, Operational Efficiency, Commercial Banks, Nigeria, Digital Banking, Process Innovation, Financial Performance.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Impact Statement\n<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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The study, “Exploring the Impact of Innovation Practices and Technologies on the Operational Efficiency of Commercial Banks in Nigeria,” offers critical insights into the transformative role of innovation within the Nigerian banking sector. This research underscores how the adoption of cutting-edge technologies and innovative practices can significantly enhance operational efficiency, reduce costs, and improve service delivery in commercial banks. By analyzing the relationship between technological advancements and operational performance, the study provides empirical evidence that could guide policymakers, banking institutions, and stakeholders in making informed decisions that foster a more resilient and competitive banking environment. The findings of this study are poised to drive strategic initiatives that can lead to increased profitability, customer satisfaction, and overall economic growth in Nigeria.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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About Author\n\n<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Otosi Faithpraise Bassey<\/span>, a lecturer II in the department of business management in the Faculty of Management Sciences at the at the University of Calabar, is responsible for addressing growing needs in management innovation, strategic human resource management, industrial relations, and related areas. He works closely with students and the public to address requirements industrial needs and creativity in the business world, entrepreneurship, and improvement in the Nigerian business environment, including leadership skills management. He holds a Higher National Diploma (HND) in accounting, a Post Graduate Diploma (PGDM) in Management, a Master of Business Administration (MBA), a Master of Science (M.Sc.) in Business Management, and a Doctor of Philosophy (Ph.D.) in Management with particular interest on innovation in the financial environment in Nigeria from Cross River State University and the University of Calabar, respectively. He has most of his publications in peer-reviewed journals.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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References\n<\/h6>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    Exploring the Impact of Innovation practices, Technologies on the Operational Efficiency of Commercial Banks in Nigeria Otosi, F.Bassey1, Faithpraise, Fina.O2, and Ubi, Ije3 1Business Management, Faculty of Business Management, University of Calabar, Nigeria 2Computer Engineering, Faculty of Engineering and Technology, University of Calabar, Nigeria 3Business Management, Faculty of Business Management, University of Calabar, Nigeria Abstract […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":8763,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-8769","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/icertpublication.com\/index.php\/wp-json\/wp\/v2\/pages\/8769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icertpublication.com\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/icertpublication.com\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/icertpublication.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/icertpublication.com\/index.php\/wp-json\/wp\/v2\/comments?post=8769"}],"version-history":[{"count":10,"href":"https:\/\/icertpublication.com\/index.php\/wp-json\/wp\/v2\/pages\/8769\/revisions"}],"predecessor-version":[{"id":8803,"href":"https:\/\/icertpublication.com\/index.php\/wp-json\/wp\/v2\/pages\/8769\/revisions\/8803"}],"up":[{"embeddable":true,"href":"https:\/\/icertpublication.com\/index.php\/wp-json\/wp\/v2\/pages\/8763"}],"wp:attachment":[{"href":"https:\/\/icertpublication.com\/index.php\/wp-json\/wp\/v2\/media?parent=8769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}