TECHNOLOGY BASED INNOVATIONS AND NON-INTEREST INCOME OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
Keywords:
IT Infrastructure, Non-Interest Income, Technology based InnovationsAbstract
The study investigated the effect of technology based innovations on non-interest income of deposit money banks in Nigeria from 2012 to 2023. Ex-post facto research designs was adopted and panel least squares regression was employed to analyse the data using descriptive, correlation test and regression estimation. The major findings in the study indicated that technology based innovation variables such as expenditure on information technology (IT) has a positive and significant effect on non-interest income of deposit money banks. The number of online customers has a significant and positive effect on non-interest income of deposit money banks. More so, F-statistic value of 8.514 at the 1 percent level reveals that a significant relationship exists between the dependent variable and the independent variables combined. Based on the results, it was recommended that investment in IT infrastructure should be a strategic decision by banks in Nigeria and that banks need to strengthen their internet infrastructure and increase its capacity as more customers flow into the system.
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