WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 20, 2023
Impact of Electronic Banking on the Operational Efficiency of Small and Medium Scale Businesses in South-western Nigeria
Authors: , , ,
Abstract: This research aimed at studying electronic banking and how it has impacted the efficiency of operations of SMSE in Nigeria. The research objective was to investigate the bearing of electronic banking on operational efficiency of SMEs in South-western Nigeria, making use of Lagos and Ogun States as a case study. The study relied on information gathered through surveys. Operational efficacy of micro, small, and medium-sized businesses served as dependent variable while POS machines (point of sale), Internet banking, ATMs, mobile banking apps, and SMS messages served as the independent variables. Primary data was sourced through the use of questionnaire while the multiple linear regression model was used to estimate the sourced data. The findings displayed that while ATM use ( = 0.20, p = 0.3114), MOP ( = 0.04, p = 0.5631), and SMS ( 0.07, p = 0.4339) had no significant effect on operational efficiency of SMSEs in South-western Nigeria, POS had an impact that is both favourable and considerable. Given the benefit of electronic banking to SMSEs, it was recommended that SMSEs should be motivated and supported to adopt the POS electronic banking platforms.
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Keywords: Small and medium scale enterprises, Electronic banking, Internet banking, Mobile banking application, Short messaging service, SMEs
Pages: 770-776
DOI: 10.37394/23207.2023.20.71