Abstract:
Bill Gates once said, banking is necessary but banks are not.1,1 This statement underscores the
radical shift from traditional banking based on manual service delivery and documentation to
electronic banking based on the use of the internet, computers, phones, and other electronic devices
at the dictate of an emerging global economy in an increasingly borderless society. This radical shift
which'is a response trrthe revolution in information technology's inevitable as it has become \sine
quanonforbanksandotherfmanciaiinstitutionsiftheymust-makeprofitandberelevant. * >
E-bankirig is tfansfbnhfrig the banking and-financial industry, in terms of the nature of <jpr§ t
products/scrvices and th e way these are packaged, proposed, delivered and consumed.2 Banks have
adopted e-banking because of its appeal in terms of accessibility, flexibility, speed, convenience and
efficiency.
