FINANCIAL TECHNOLOGY AND DEPOSIT MONEY BANKS PERFORMANCE IN NIGERIA

The study empirically examined the impact of financial technology on performance of deposit money banks in Nigeria over the period 2009Q1 to 2024Q4. The specific objectives of the study were to find out whether automated teller machine (ATM), point of sales terminal (POS), internet banking (INTB) and mobile banking (MOB) have significant relationship with deposit money banks performance. The fully modified least squares method was used for the analysis of data, and the results obtained revealed that automated teller machine (ATM) had significant negative relationship with deposit money banks performance;
point of sales terminal (POS) had a weak negative relationship with DMBP; internet banking (INTB) had a significant positive impact on performance, and while mobile banking (MOB) has a weak positive relationship with deposit money banks performance in Nigeria. The study conclude that in the determination of deposit money banks performance in Nigeria, ATM, POS and
INTB are relevant financial technology factors to be considered because of their critical role in ensuring high level of performance of deposit money banks in Nigeria. The study recommends among others that, management should continue to ensure that more ATM stands or points where customers can easily withdraw money, especially those who in-hard-to reach areas should be provided. Regular and routine servicing and monitoring of these ATM machines must be carried out. These will go a long way to enhance overall banks’ performance in the country.