Accounting Technology Innovation and Mobile Banking and Financial Performance of Deposit Money Banks in Port Harcourt
Keywords:
Accounting technology innovation, mobile banking, and financial performance.Abstract
This article investigated the nexus between Port Harcourt's deposit money banks' financial performance and the technological innovation employed within the study period. Earnings per share and return on asset were used in the study to measure financial performance, while mobile banking was accepted as aspect of electronic banking. Time series longitudinal survey design was used in the study. Financial statements of the ten banks that were chosen were the source of the data. The study took a relevant one-year sample of the ten deposit money banks that were chosen to assess their financial performance. The Statistical Package for Social Sciences (SPSS) version 23.0 made it easier to formulate and test four null hypotheses using simple regression. The study found that there is significant relationship between mobile banking and earnings per share of deposit money banks in Port Harcourt. Also, there is significant relationship between mobile banking and return on asset of deposit money banks in Port Harcourt. The study therefore concludes that: mobile banking and earnings per share and return on asset had a favorable and significant association in affecting the Port Harcourt deposit money banks' financial performance. Based on these findings and conclusion, this study made a number of recommendations as follows: managers of deposit money banks should be aware of the advancements and modifications in mobile banking and accounting technology innovation and endeavour to be more technically competent in their usage and application of technological innovation. They should also improve on financial inclusion by expanding mobile banking services to rural areas, offer basic banking services to unbanked populations and encourage mobile savings and loan products at moderate interest rate.
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