Abstract
This paper titled, “Analysis of the negative effects of the automated teller machine (ATM) as a channel for delivering banking services electronically in Nigeria” proposed that the ATM system of delivering banking services not only contribute to the increasing rate of bank fraud but equally lures Nigerians into profligate expenditure. Using a sample of 600 respondents conveniently selected from two states of the federation (Lagos and Anambra), and analyzing the hypotheses formulated with chi-square, it was found that results were consistent with the propositions made. Against these backdrops, it was recommended that banks should; strive to increase their security layers to subvert the tricks of web scammers, limit the amount which customers may be allowed to withdraw at a time and provide electronic alerts to customers’ phone for all transactions carried out on their bank accounts through ATMs, cooperate instead of competing in stemming the ATM fraud menace and educate customers on the need to safeguard their PINs. Government was encouraged to; promulgate laws that will guide e-business including ATMs in Nigeria, provide employment, check the indiscriminate issuance of ATM cards by banks and so on. Customers were advised to; avoid replying unsolicited mails and text messages, not to compromise their PINs, maintain a separate account which is not placed under ATM if they are given to impulsive expenditure. Interested researchers were as well given a focus for further research.
Highlights
Introduction and Statement of ProblemThe converging forces of technology have tremendously altered manual systems of delivering banking services and have subsequently paved way for electronic delivery platforms in recent time
Adeyemi (2010) posit that despite the reality that the introduction of Automated Teller Machine (ATM) terminals as a banking instrument was lauded by several customers as an alternative to the frustrating queues that characterized the country's banking hall, the situation today has changed drastically; it has become a source of worry to users and providers because the function it was meant to provide has been eroded seriously
This study investigated the negative effects of the ATM as a system of delivering banking services electronically in Nigeria
Summary
Introduction and Statement of ProblemThe converging forces of technology have tremendously altered manual systems of delivering banking services and have subsequently paved way for electronic delivery platforms in recent time. Heli (2006) confirmed this assertion when he held that the use of electronic means of payment has increased at the expense of paper-based payment instruments. The Automated Teller Machines (ATMs) is one of existing replacements of the cascading labour-intensive transaction system effected through what is popularly referred to as paper-based payment instruments. He further disclosed that in some countries, payment cards have replaced cheques, and Internet banking has become a popular means of paying invoices. Nigeria is not an exception; we have had a share of this revolution. Adeyemi (2010) quoting the chairman of Chief Inspectors of Banks in Nigeria (CIBN), Lagos chapter, ISSN 1833-3850 E-ISSN 1833-8119 www.ccsenet.org/ijbm
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
