ABSTRACT
In this study, we examine the relationship between global IT and organizational change initiatives in banking and IT and organizational change initiatives within the Nigerian banking system.1 It is generally argued that the globalization process is more advanced in wholesale banking than in the retail sector because retail banking is more local in nature and is expected to be much more closer to customer needs and preferences (O’Brien, 1992). Yet, to completely isolate retail banking from global trends will be misleading. Frazer and Vittas (1982) identified the substantial level of similarities between consumer financial needs and the ease with which new financial technology can be transferred across many different countries as reasons why the retail-banking sector cannot be isolated. Similarly, Reinicke (1995) discussed the ease with which foreign banks are able to penetrate local markets after deregulation as constituting a major aspect of the globalization trend within retail banking. In addition, O’Brien (1992) identified the increasing ownership of local banks by foreigners, the increasing formation of alliances and mergers between banks of different national origins, and the important role that the new information and communications technology is playing in banking activities, as important global tendencies in retail banking.
