" ITREALMS: Intermarc conducts research on e-banking

Thursday, June 28, 2007

Intermarc conducts research on e-banking

Worried by the dearth of verifiable data in the nation’s financial services industry, Intermarc Consulting, an electronic-payment consulting firm, has commissioned Research and Marketing Services (RMS) to conduct an in-depth research on electronic banking (e-banking) in Nigeria.

Managing Partner, Intermarc Consulting, Mr. Adeyinka Adeyemi informed that the objectives of the research include to determine the bank with the highest e-banking performance based on consumers’ perception.

In addition, it would seek out the key drivers determining positive performance on e-banking across the country.

Also in executing the study, RMS would interview over 2000 Nigerians with various bank accounts.

The interview would be conducted in 15 states, cutting across the six geo-political zones of the country.

The research, he added would focus on the availability of cash machine popularly known as Automated Teller Machine (ATM), it’s functionality, ease of obtaining and replacing ATM cards as well as the perceived security of ATM transactions, just as it would determine the level of awareness, the availability of credit and debit cards, perceived coverage of the cards, acceptability and the ease of applying for them from the issuing banks.

RMS is also expected to determine the availability of telephone banking and ease of using its facilities across the country.

Also, the study will find out the availability of Internet banking, its reliability and perceived security issues, among others.

Speaking at the commissioning ceremony in Lagos, Mr. Adeyemi, explained the rationale behind the study, saying that it would assist Nigerian banks and other financial institutions in taking full advantage of their investments in e-payment systems.

“It will certainly help the banks to adopt a deliberate strategy and align public perception to position their various e-banking portfolios,” he said.

He pointed out that the market for e-banking products is very promising, as such consumers will continue to demand fast, efficient and convenient banking options.

In order to meet these potential demands, banks will benefit immensely from a comprehensive research of this kind, stressing that the reports of this research will be in two folds, namely on general industry situation report while the other will focus on specifics to each bank in the industry.

Equally speaking, Country Head, RMS, Mr. Aggrey Maposa promised that his company will complete the evaluative research in a record time, with assurance of high literacy level of the respondents who are banks customers.

“We are quite adept with carrying out research in emerging markets; essentially we are an African agency with global perspective. Our focus is the African market, and we stand by our knowledge and the understanding as African specialists, which are evident in our wide-ranging experience across the continents’ market,” he declared.

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