Information and Communication Technology Infusion Model for Microfinance Bank in the Nigeria

Idowu Peter Adebayo; Balogun Jeremiah Ademola; Komolafe Olufemi

doi:doi:10.11648/j.ijfbr.20170304.12

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Information and Communication Technology Infusion Model for Microfinance Bank in the Nigeria

Idowu Peter Adebayo, Balogun Jeremiah Ademola, Komolafe Olufemi

Published in International Journal of Finance and Banking Research (Volume 3, Issue 4)

Received: 29 June 2017 Accepted: 13 July 2017 Published: 1 November 2017

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Abstract

This study was motivated by the need of the identification of the ICT devices used in the Nigerian microfinance sector and the formulation of infusion models for each identified ICT device. 126 Structured questionnaires were used to collect information regarding the use of the ICT devices used among respondents of nine (9) microfinance institutions selected from South-Western Nigeria. The different ICT devices identified consisted of smartphones, SMS, e-mails, computer hardware, telephone banking, magnetic ink character recognition (MICR) cheque, bank websites or mobile banking applications, teleconferencing, electronic point-of-sale (E-POS) services and financial ERP software applications. The results showed that majority of respondents who used ICT tools were customers who were traders with a majority age group of around 21-30 years. The results of the study also showed that all ICT tools were adopted in the same year (1999) by bank staffs. The results showed that although all the ICT devices identified were adopted in the same year, it was observed that about 65% of the respondents adopted smartphones and SMS while less than 16% of the respondents acquainted themselves with the other devices. Polynomial functions of degree, m were used to formulate the infusion model for each ICT devices identified based on the yearly cumulative distribution of the number of users. The infusion models formulated can be used to estimate the number of users of ICT devices for any given year from the year of adoption of the ICT device.

Published in	International Journal of Finance and Banking Research (Volume 3, Issue 4)
DOI	10.11648/j.ijfbr.20170304.12
Page(s)	57-57
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2017. Published by Science Publishing Group

Keywords

Information and Communications Technology, Devices in Use, Infusion Modeling, Agricultural Institute

References

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[4]	Idowu, P. A., Eyitope, O and Idowu, B. (2003). Information and Communications Technology in Nigeria - The Health Sector Experience. Journal of Information Technology Impact, 3 (2), 69-73.
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[17]	Dailey, P. and Firpo, J. (2007). Microfinance and branchless banking: Models, constraints and recommendations. In Proceedings of the Widening Harmonized Access to Microfinance (WHAM) and Advancing Microfinance for Post- disaster Economic Reconstruction (AMPER) Projects.
[18]	Akintaro, S. (2011). Going Cashless: Knock! Knock!! Here comes the e-era. Retrieved 19 June 2013 from http://www.ittelecomdigest.com/cover12-dec.htm on June 24, 2016.
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APA Style

Idowu Peter Adebayo, Balogun Jeremiah Ademola, Komolafe Olufemi. (2017). Information and Communication Technology Infusion Model for Microfinance Bank in the Nigeria. International Journal of Finance and Banking Research, 3(4), 57-57. https://doi.org/10.11648/j.ijfbr.20170304.12

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ACS Style

Idowu Peter Adebayo; Balogun Jeremiah Ademola; Komolafe Olufemi. Information and Communication Technology Infusion Model for Microfinance Bank in the Nigeria. Int. J. Finance Bank. Res. 2017, 3(4), 57-57. doi: 10.11648/j.ijfbr.20170304.12

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AMA Style

Idowu Peter Adebayo, Balogun Jeremiah Ademola, Komolafe Olufemi. Information and Communication Technology Infusion Model for Microfinance Bank in the Nigeria. Int J Finance Bank Res. 2017;3(4):57-57. doi: 10.11648/j.ijfbr.20170304.12

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@article{10.11648/j.ijfbr.20170304.12,
  author = {Idowu Peter Adebayo and Balogun Jeremiah Ademola and Komolafe Olufemi},
  title = {Information and Communication Technology Infusion Model for Microfinance Bank in the Nigeria},
  journal = {International Journal of Finance and Banking Research},
  volume = {3},
  number = {4},
  pages = {57-57},
  doi = {10.11648/j.ijfbr.20170304.12},
  url = {https://doi.org/10.11648/j.ijfbr.20170304.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20170304.12},
  abstract = {This study was motivated by the need of the identification of the ICT devices used in the Nigerian microfinance sector and the formulation of infusion models for each identified ICT device. 126 Structured questionnaires were used to collect information regarding the use of the ICT devices used among respondents of nine (9) microfinance institutions selected from South-Western Nigeria. The different ICT devices identified consisted of smartphones, SMS, e-mails, computer hardware, telephone banking, magnetic ink character recognition (MICR) cheque, bank websites or mobile banking applications, teleconferencing, electronic point-of-sale (E-POS) services and financial ERP software applications. The results showed that majority of respondents who used ICT tools were customers who were traders with a majority age group of around 21-30 years. The results of the study also showed that all ICT tools were adopted in the same year (1999) by bank staffs. The results showed that although all the ICT devices identified were adopted in the same year, it was observed that about 65% of the respondents adopted smartphones and SMS while less than 16% of the respondents acquainted themselves with the other devices. Polynomial functions of degree, m were used to formulate the infusion model for each ICT devices identified based on the yearly cumulative distribution of the number of users. The infusion models formulated can be used to estimate the number of users of ICT devices for any given year from the year of adoption of the ICT device.},
 year = {2017}
}

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TY  - JOUR
T1  - Information and Communication Technology Infusion Model for Microfinance Bank in the Nigeria
AU  - Idowu Peter Adebayo
AU  - Balogun Jeremiah Ademola
AU  - Komolafe Olufemi
Y1  - 2017/11/01
PY  - 2017
N1  - https://doi.org/10.11648/j.ijfbr.20170304.12
DO  - 10.11648/j.ijfbr.20170304.12
T2  - International Journal of Finance and Banking Research
JF  - International Journal of Finance and Banking Research
JO  - International Journal of Finance and Banking Research
SP  - 57
EP  - 57
PB  - Science Publishing Group
SN  - 2472-2278
UR  - https://doi.org/10.11648/j.ijfbr.20170304.12
AB  - This study was motivated by the need of the identification of the ICT devices used in the Nigerian microfinance sector and the formulation of infusion models for each identified ICT device. 126 Structured questionnaires were used to collect information regarding the use of the ICT devices used among respondents of nine (9) microfinance institutions selected from South-Western Nigeria. The different ICT devices identified consisted of smartphones, SMS, e-mails, computer hardware, telephone banking, magnetic ink character recognition (MICR) cheque, bank websites or mobile banking applications, teleconferencing, electronic point-of-sale (E-POS) services and financial ERP software applications. The results showed that majority of respondents who used ICT tools were customers who were traders with a majority age group of around 21-30 years. The results of the study also showed that all ICT tools were adopted in the same year (1999) by bank staffs. The results showed that although all the ICT devices identified were adopted in the same year, it was observed that about 65% of the respondents adopted smartphones and SMS while less than 16% of the respondents acquainted themselves with the other devices. Polynomial functions of degree, m were used to formulate the infusion model for each ICT devices identified based on the yearly cumulative distribution of the number of users. The infusion models formulated can be used to estimate the number of users of ICT devices for any given year from the year of adoption of the ICT device.
VL  - 3
IS  - 4
ER  -

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Author Information

Idowu Peter Adebayo

Department of Computer Science and Engineering, Obafemi Awolowo University, Ile-Ife, Nigeria
Balogun Jeremiah Ademola

Department of Computer Science and Engineering, Obafemi Awolowo University, Ile-Ife, Nigeria
Komolafe Olufemi

Engineering Materials Development Institute, Federal Ministry of Science & Technology, Akure, Nigeria

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APA Style

Idowu Peter Adebayo, Balogun Jeremiah Ademola, Komolafe Olufemi. (2017). Information and Communication Technology Infusion Model for Microfinance Bank in the Nigeria. International Journal of Finance and Banking Research, 3(4), 57-57. https://doi.org/10.11648/j.ijfbr.20170304.12

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ACS Style

Idowu Peter Adebayo; Balogun Jeremiah Ademola; Komolafe Olufemi. Information and Communication Technology Infusion Model for Microfinance Bank in the Nigeria. Int. J. Finance Bank. Res. 2017, 3(4), 57-57. doi: 10.11648/j.ijfbr.20170304.12

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AMA Style

Idowu Peter Adebayo, Balogun Jeremiah Ademola, Komolafe Olufemi. Information and Communication Technology Infusion Model for Microfinance Bank in the Nigeria. Int J Finance Bank Res. 2017;3(4):57-57. doi: 10.11648/j.ijfbr.20170304.12

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@article{10.11648/j.ijfbr.20170304.12,
  author = {Idowu Peter Adebayo and Balogun Jeremiah Ademola and Komolafe Olufemi},
  title = {Information and Communication Technology Infusion Model for Microfinance Bank in the Nigeria},
  journal = {International Journal of Finance and Banking Research},
  volume = {3},
  number = {4},
  pages = {57-57},
  doi = {10.11648/j.ijfbr.20170304.12},
  url = {https://doi.org/10.11648/j.ijfbr.20170304.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20170304.12},
  abstract = {This study was motivated by the need of the identification of the ICT devices used in the Nigerian microfinance sector and the formulation of infusion models for each identified ICT device. 126 Structured questionnaires were used to collect information regarding the use of the ICT devices used among respondents of nine (9) microfinance institutions selected from South-Western Nigeria. The different ICT devices identified consisted of smartphones, SMS, e-mails, computer hardware, telephone banking, magnetic ink character recognition (MICR) cheque, bank websites or mobile banking applications, teleconferencing, electronic point-of-sale (E-POS) services and financial ERP software applications. The results showed that majority of respondents who used ICT tools were customers who were traders with a majority age group of around 21-30 years. The results of the study also showed that all ICT tools were adopted in the same year (1999) by bank staffs. The results showed that although all the ICT devices identified were adopted in the same year, it was observed that about 65% of the respondents adopted smartphones and SMS while less than 16% of the respondents acquainted themselves with the other devices. Polynomial functions of degree, m were used to formulate the infusion model for each ICT devices identified based on the yearly cumulative distribution of the number of users. The infusion models formulated can be used to estimate the number of users of ICT devices for any given year from the year of adoption of the ICT device.},
 year = {2017}
}

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TY  - JOUR
T1  - Information and Communication Technology Infusion Model for Microfinance Bank in the Nigeria
AU  - Idowu Peter Adebayo
AU  - Balogun Jeremiah Ademola
AU  - Komolafe Olufemi
Y1  - 2017/11/01
PY  - 2017
N1  - https://doi.org/10.11648/j.ijfbr.20170304.12
DO  - 10.11648/j.ijfbr.20170304.12
T2  - International Journal of Finance and Banking Research
JF  - International Journal of Finance and Banking Research
JO  - International Journal of Finance and Banking Research
SP  - 57
EP  - 57
PB  - Science Publishing Group
SN  - 2472-2278
UR  - https://doi.org/10.11648/j.ijfbr.20170304.12
AB  - This study was motivated by the need of the identification of the ICT devices used in the Nigerian microfinance sector and the formulation of infusion models for each identified ICT device. 126 Structured questionnaires were used to collect information regarding the use of the ICT devices used among respondents of nine (9) microfinance institutions selected from South-Western Nigeria. The different ICT devices identified consisted of smartphones, SMS, e-mails, computer hardware, telephone banking, magnetic ink character recognition (MICR) cheque, bank websites or mobile banking applications, teleconferencing, electronic point-of-sale (E-POS) services and financial ERP software applications. The results showed that majority of respondents who used ICT tools were customers who were traders with a majority age group of around 21-30 years. The results of the study also showed that all ICT tools were adopted in the same year (1999) by bank staffs. The results showed that although all the ICT devices identified were adopted in the same year, it was observed that about 65% of the respondents adopted smartphones and SMS while less than 16% of the respondents acquainted themselves with the other devices. Polynomial functions of degree, m were used to formulate the infusion model for each ICT devices identified based on the yearly cumulative distribution of the number of users. The infusion models formulated can be used to estimate the number of users of ICT devices for any given year from the year of adoption of the ICT device.
VL  - 3
IS  - 4
ER  -

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