The E-Banking system: The Dynamism of Financial Transparency and Globalization

The Nigerian banking system had operated perfectly on the manual banking system where the banking activity is done in a single banking hall with much manual recording system and many paper works. However, there was the issue of poor transparency of the whole process, poor dissemination of financial information and unreliable financial information by the banks. These call for a change and hence the introduction of the E-banking system. Thus, this study is an evaluation of the extent to which E-banking has assisted in projecting banks due process compliance, transparency and accuracy in generating financial information. The study made use of survey research design using a structured questionnaire to gather necessary data. The generated data was analyzed using the Binomial test of equal test proportion. The result shows that the E-banking has assisted in projecting transparency in the banking sector. There is also adequacy in the process of generating financial information. The cashless society has begun but currently at low ebb and also not much has been achieved. The study recommended that there should be upgrading of the technology to provide robust and adequate application of the E-banking services. The system should also put in place adequate customer protection system. ___________________________________________________________________________