PERFORMANCE EVALUATION OF NEW PRODUCTS DEVELOPED IN THE BANKING INDUSTRY 1999 - 2004

ABSTRACT This research studied performance evaluation of new product developed in the banking industry from 1999 - 2004 In this research work, the researcher chooses four of the products and measures the extents to which they have been able to satisfy the customers. The products selected are, smart card, international money transfer, and educational scheme and integrated banking network transaction. Data for this research were collected through questionnaires and intervenes by banks customers and the review of existing literature on the topic using systematic random procedure and descriptive method of research. The data so collected were analyzed using the simple percentage and formulated hypothesis were testing with chi square (X2) method. Some of the findings. The performance can be measured in terms of accessibility, speed, timelines, simplicity and reliability. Customers who patronize the new products are Marjory those who want money transfer both locally and internationally. Customers device high level of satisfaction from the new products. Inadequate infrastructural level in our banking industry and high cost of installing them contributed to the problem of the new products. Based on the findings, the following were recommended banks should come together and establish a common data communication satellite to minimize constant problems. A parallel organization that was supplying electricity in competition with NEPA should be allowed to evolved so that an efficient supply electricity can be ensured. Finally, since this study alone cannot be exhaustive of this vital subject, it is recommended for further studies.

TABLE OF CONTENTS
TITLE PAGE II APPROVAL PAGEIII DEDICATIONIV ACKNOWLEDGEMENTV ABSTRACTVI TABLE OF CONTENTSIX LIST OF TABLESXIII LIST OF ABBREVIATION AND DEFINITIONSXIII LIST OF APPENDICESXIII LIST OF FIGURESXIII
CHAPTER ONE INTRODUCTION 1.1BACKGROUND OF THE STUDY1 1.2STATEMENT OF PROBLEM2 1.3OBJECTIVES OF THE STUDY2 1.4RESEARCH QUESTIONS3 1.5RESEARCH HYPOTHESIS4 1.6PURPOSE OF THE STUDY5 1.7SIGNIFICANCE OF THE STUDY6 1.8RATIONALE/JUSTIFICATION7 1.9SCOPE OF THE STUDY7 1.10LIMITATION OF THE STUDY8 1.11DELIMITATIONS OF THE STUDY8 1.12ASSUMPTION OF THE STUDY9 1.13DEFINITION OF TERMS9 1.14REFERENCE12
CHAPTER TWO LITERATURE REVIEW13 THEORETICAL FRAMEWORK13 2.1NEW PRODUCT FOR EFFECTIVE BANKING  OPERATION13 2.2THE PRODUCTS IN THE BANKING INDUSTRY14 2.3INFORMATION TECHNOLOGY17 2.4GLOBALIZATION OF BANKING INDUSTRY20 2.5THE CONCEPT OF UNIVERSAL BANKING21 2.6PERFORMANCE EVALUATION OF NEW PRODUCTS IN THE BANKING INDUSTRY22 2.7REVIEW OF OTHER RELATED COMPLETED  RESEARCH WORK26 2.8SUMMARY AND JUSTIFICATION REFERENCE29
CHAPTER THREE RESEARCH DESIGN AND METHODOLOGY30 3.1RESEARCH DESIGN30 3.2AREA OF STUDY30 3.3RESEARCH POPULATION30 3.4SAMPLING SIZE DETERMINATION31 3.5SAMPLING PROCEDURE31 3.6SOURCE OF DATA USED31 3.7LOCATION OF DATA32 3.8METHOD OF DATA COLLECTION33 3.9METHOD OF DATA ANALYSIS34 3.10STATISTICAL TOOLS FOR ANALYSIS34 REFERENCE36
CHAPTER FOUR DATA PRESENTATION AND ANALYSIS37 4.1DATA ANALYSIS AND INTERPRETATION37 4.2QUESTIONNAIRE PRESENTATION38 4.3TEST HYPOTHESIS52 4.4FINDINGS58
CHAPTER FIVE SUMMARY OF FINDINGS, RECOMMENDATION AND CONCLUSION 5.1SUMMARY OF FINDINGS62 5.2RECOMMENDATION AND CONCLUSION63 5.3SUGGESTION FOR FURTHER RESEARCH65 BIBLIOGRAPHY66 APPENDICES68
LIST OF ABBREVIATIONS C.B.N.: Central Bank of Nigeria NEPA. : NATIONAL ELECTRIC POWER AUTHORITY NITEL. : Nigeria telecommunication I.M.F.   : International Monetary Funds
LIST OF FIGURES Fig 1:graph of confidence level Fig 2 :graph of confidence level Fig 3 :graph of confidence level Fig 4 :graph of confidence level