Published Article

This study examined the assessment of emerging technologies in Nigerian banks, focusing on their types and roles in transforming the financial sector. A descriptive survey research design was adopted for this study. The study was carried out in Nigeria. The targeted population consisted of all bankers and management staff in Nigeria. A stratified sampling technique was employed to ensure adequate representation across regions. The study covered 2 geopolitical zones (South-East and South-South), within which 3 states were selected per zone, giving a total of 6 states. 7 bankers (2 management staff and 5 senior staff) were sampled from every selected bank. This gave a total sample size of 210 respondents. Data were collected using a structured questionnaire entitled “Emerging Technologies for Nigerian Banks Questionnaire” (ETNBQ). The instrument was validated by an expert in banking and finance to ensure its suitability and clarity. A reliability coefficient of 0.88 was obtained, confirming the instrument’s reliability as the coefficient it was high enough for justification. The data collected were analyzed using descriptive statistics to answer the research questions. The result of Table 1 shows that cybersecurity technologies recorded the highest percentage (13.33%) among the types of emerging technologies used in daily operations by the Nigerian banking sector, while quantum computing recorded the least percentage (3.81%). This indicates that cybersecurity is the most widely adopted technologies in Nigerian banks. Similarly, Table 2 reveals that automation and operational efficiency recorded the highest percentage (11.43%) among the roles of emerging technologies in Nigerian banks, while regulatory compliance and risk management recorded the least percentage (4.29%). This suggests that emerging technologies are primarily used to improve efficiency and streamline banking operations rather than for regulatory functions. The study concludes that emerging technologies are essential drivers of growth and competitiveness in the Nigerian banking sector, and their continued adoptions. One of the recommendations made was that Nigerian banks should invest in robust digital infrastructure to support the effective implementation of emerging technologies.