The application of Information Technology in financial service delivery on the market has become inevitable due to the numerous advantages the institution stands to gain as a result. Most of the financial institution in Ghana have resolved to the use of more sophisticated IT innovations which comes with its own user cost to the institutions in its quest to improve quality of services provided, increase customer base and satisfaction, increase volumes of transaction and eventually improve firm’s profitability on the market. The main objective of this study is to investigate the effect of IT innovations on the financial sector performance in Ghana. The methodology adopted were both qualitative and quantitative methodology, where both descriptive and quantitative estimations were made to investigate variables involved in the study. SPSS 16.0 version was used to estimate the regression results for the specified model. The model was evaluated or analyzed with both p-values and the coefficients for the purpose of statistical inferences and determination of the significance of the explanatory variables in the model specified for the study. The study finds a positive and significant relationship between application of IT innovations and financial sector performance in Ghana given the data gathered, that IT application in financial services helps to ensure effective evaluation of all business processes, and help to multi-task to meet varying client’s expectations on the market; it is therefore recommended that this tool is always employed in monitoring and evaluation of all clients transactions, carefully scrutinizing the risk characteristics of clients so as to help reduce the default rate of clients and accumulation of bad debts, and eventually help to improve firm’s profitability on the market and its ability to meet the social responsibility in their environment of operation.