Effect of Mobile Banking on Financial Performance of Deposit Money Banks in Maiduguri Borno State {A Case of United Bank of Africa (Uba) PLC, Maiduguri Main Branch}

Abstract

The upswing of competition in banking business environment today has necessitated Banks to be preoccupied by the quest for intensive research to discover a potential Technical breakthrough capable of contributing to the muscle of beating and outperforming their competitors, to survive and remain afloat .The only tool today ,to be used to champion in such a situation is to find a strategic tool that can improve on the banks service delivery and efficiency in conduction of daily operations. This is what led to the introduction of mobile banking. Mobile banking is a service provided by banks that allows their customers to conduct financial transactions remotely using mobile device. The study examines the effect of mobile banking on financial performance of deposit money banks in Maiduguri Borno State with a particular reference to U. B. A Maiduguri main branch. Pearson product moment correlation coefficient (PPMCC) was used to determine the strength and direction of linear relationship between the variables. The researcher used survey research method in obtaining his findings. Fifty (50) questionnaires were administered but only twenty five (25) were retrieved and the responses were subjected to tabular analysis in line with statistical package of social science. The major finding of the study was that mobile banking does not have any positive effect on financial performance of deposit money banks in Maiduguri. The researcher in his conclusion stated that as the rate of adoption if mobile increases, the financial performance of deposit money banks can decrease. The researcher's major recommendation to deposit money banks in Maiduguri is that they should attach importance to investing in R&D so as to discover another potential technological banking breakthrough that would Supercede mobile Banking''.