INNOVATIONS AS COMPETITIVE TOOLS IN BANKING SERVICES
Innovations in banks have been the antidote the mess that befalls banks in Nigeria due to fraud. Many people lost confidence in banks and started reverting to the old systems of holding money in assets, which draws us back to the Stone Age. Hence with the emergence of innovations that shift attention from the bank to the customer, patronage has greatly increased, and many banks are busy evolving one system or the other to satisfy their customers across the globe. This study has looked into such innovations. Questionnaires are distributed to bankers of the cadre of: Managers, supervisors and clerks. Oral interview as well as direct observations helped in collating data. These formed the primary data while secondary data comprised the written views of people that are relevant to the topic under study. After the analysis of data, it was discovered that innovations help banks in ensuring patronage and customer satisfaction. Hypotheses were analyzed using simply proportion statistic. Amongst others, it is recommended therefore, that banks should: Embrace further every data, of information technology which would help in ensuring patronage. Recruit computer literate personnel only. Innovate on value cards to further ensure constant customer satisfaction and convenience. Interbank relations should be computerized.