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ABSTRACT
The study looked at how Nigeria's deposit money banks were performing and how the Fintech revolution had affected them. The study's goals were to investigate the connections between online banking transactions and DMB performance, as well as those between POS (point of sale) transactions and DMB performance, ATM transactions and DMB performance in Nigeria, and mobile banking transactions and DMB performance in Nigeria.
Ex-post facto experimental research design served as the foundation for this study's research methodology. The Statistical Bulletins of the Central Bank of Nigeria served as the source for the data used in this study. The study's conclusions showed that deposit money banks and mobile banking platforms were causally related to the unfavorable but significant effects that online banking and ATMs had on Nigerian commercial banks' return on equity. The study showed a strong and positive relationship between mobile banking platforms and deposit money bank assets.
The report also suggested lowering the cost of using the internet. This advice is provided because using alternative banking platforms often requires using the internet. It will contribute to an increase in consumption, particularly in rural regions. POS has demonstrated superiority over the other banking alternative platforms and needs to be promoted. This might result in lower ownership expenses and decreased DMB fees. If a specific threshold is crossed, additional security, such two-way authentication, may be required. This will decrease the instances of theft involving stolen ATM cards, and rural bank branches should be urged to regularly educate their clients about using alternative banking systems.
