Nigerian Journal of Banking and Financial Issues (NJBFI)
Financial Innovation And Financial Performance Of Deposit Money Banks In Nigeria
Keywords:
Financial Innovation, Financial Performance, Automated Teller Machine, Point of Sales, NIBSSAbstract
This study assessed the effects of automated teller machines, points of sale, and NIBSS quick payment settlement on bank performance in Nigeria for the period 2012 to 2020. It cut across 36 quarters, as well as the degree of connection between these factors and bank performance in Nigeria. Two primary estimation techniques were employed in the study, the unit root test and the autoregressive distributed lag model. Moreover, descriptive and inferential statistics were used. The quarterly time series data for the study on ATM, POS, NIBSS, and ROI were sourced from the Central Bank of Nigeria and the Statistical Bulletin of the Nigeria Deposit Insurance Corporation. Point of sale and the Nigerian Integrated Banking System (NIBSS) have positive and significant influence on bank performance, while automated teller machines and point of sale have a negative and little impact. The study's findings indicate that financial innovation improves bank performance.
