TECHNOLOGICAL INNOVATION OF SERVICE DELIVERY OF MICROFINANCE BANKS IN AUCHI, EDO STATE

Modern day banking relies heavily on the use of modern technology and technological innovation for effective service delivery. This study therefore examines the influence of technological innovation on the service delivery of microfinance banks in Auchi, Edo State, Nigeria. It is in view of this that the study seeks to investigate how the deployment of Automated Teller Machines, Point of Sale Terminals and the internet have influenced service delivery in microfinance banks in Auchi, with the above objectives establishing the basis of the study’s hypotheses. Data were sourced primarily through the use of questionnaire administered on 150 respondents who are employees of the banks, and collated data were analyzed using simple percentages and the chi-square statistical tool. On a general note, the result of the study showed that technological innovation has significantly influenced service delivery among the banks, with the deployment of Automated Teller Machines, Point of Sale Terminals and the internet sales significantly impacting on service delivery in the banks. Recommendations were however made in line with the findings of the study. Among such recommendations include the use of modern technology among microfinance banks to improve service delivery and customers’ satisfaction should be enhanced through constant innovations and improvements; microfinance banks as grass root banks should compulsorily issue ATM cards to their customers in order to widen and improve their service delivery, among others.