Thesis Abstract

Abstract
This research project focuses on the design and implementation of a computerized banking system to improve the efficiency and customer service of banking operations. The traditional manual banking processes have limitations in terms of speed, accuracy, and customer satisfaction. By developing a computerized system, banks can streamline their operations, reduce errors, and provide better services to customers. The proposed computerized banking system will encompass various features such as account management, transaction processing, customer relationship management, and security protocols. The system will allow customers to perform various banking activities online, including fund transfers, bill payments, account inquiries, and loan applications. Moreover, the system will integrate data analytics capabilities to provide personalized services and insights to customers based on their financial behavior and preferences. In terms of implementation, the project will involve the use of modern software development tools and technologies to create a user-friendly interface for both bank employees and customers. The system will be designed to ensure data security and privacy through encryption protocols, access controls, and regular security updates. Additionally, the system will be scalable to accommodate future growth and technological advancements in the banking industry. The benefits of implementing a computerized banking system include improved operational efficiency, reduced processing times, enhanced customer service, and better risk management. By automating routine tasks and providing real-time access to banking services, the system will help banks attract more customers and retain existing ones. Furthermore, the system will enable banks to analyze customer data for targeted marketing campaigns, product development, and risk assessment. Overall, the design and implementation of a computerized banking system have the potential to transform the banking industry by making services more accessible, convenient, and secure for customers. The project aims to address the current challenges faced by traditional banks and pave the way for a digital transformation in the financial sector. Through effective system design, implementation, and integration, banks can stay competitive in a rapidly evolving market and meet the changing needs of customers in the digital age.

Thesis Overview

1. INTRODUCTION

1.1     THE OVERVIEW OF THE STUDY

Banking has come a long way from the time of ledger cards and other manual filing systems. Most banks today are computerized to handle their daily voluminous tasks of information retrieval, storage, and processing. Irrespective of whether they are automated or not, banks by their natures are involved in all forms of Information Technology and Management on continuous basis (Molina, 1997).

Banks play their significant role in any economic system. They are financial intermediaries involve in transfers of funds within and outside the country. Banking sector is getting competitive every day. Quantity, speed, efficiency and innovations are the main points on which quality programs are designed. All banks are engaged in same basic banking activities but it is the way of delivery of services that distinguishes one bank form the other. All banks worldwide are considering quality in the strategic management. Taking a proactive stance against privacy invasion could help stave off government intervention in passing legislation to create tighter controls over what can be done with an individual’s personal data. The development of computerized banking system, however, involves a substantial amount of work, which ranges from collecting sufficiently large number of data items. Computerized banking system uses computer technology to relieve the consumer of the paper based and time consuming work. Computerized banks have started utilizing powerful computer networks resources for automating large numbers of daily transactions, which minimizes the time consuming manual paper work and giving access too many different banking services to its clients instantly, on demand, at home or at work. With the help of computerized banking, one can have access to money and banking functions anytime and anywhere, even where there is internet access (Renom, 1997).

This technology has seen a tremendous increment in the usage, as more and more big national banks and various other banks in smaller regions, have started some form of computerized banking to provide conveniences to their customers and to themselves. According to (Wainer, 2000), the computerized banking mechanism is fast and secure compared to the traditional banking operations because of automation of the manual aspects of banking practice, which is time consuming.

United bank for Africa was incorporated on February 23, 1961 and was the first of the International Banks operating in Nigeria at that time to be registered under Nigeria Law. However, the Bank has its antecedents in the British French bank which itself metamorphosed from Banque National Pour Le Commerce ET L Industries, BNCI, and Paris, established in 1932. UBA has 258 branches and cash offices and agencies in Nigeria’s major commercial center, state capital and the federal territory, including two offshore branches in New York and grand Cayman Island.  UBA retains the unique status of being the only Nigerian Bank with a presence in the United States of America. The New York branch acts as one of UBA’s overseas correspondent banks. Others major correspondent banks are Bankers Trust (USA) and Banque Nationale de Paris (UK and France). A tradition of trail-brazing. In 1963, UBA became the first bank to introduce Mobile Banking services in Nigeria. In 1986, UBA became the first to introduce a Cheque Guarantee Scheme known as UBACARD, a forerunner of Easy Card which has recently replaced the electronic payment card, UBA Val Card. Today the bank remains in the forefront in the application of technological innovations in banking. It is one of the largest agents of monogram International for award international money transfers. UBA Connect TM provides a window for online global banking. In 1998 UBA became the first Nigerian Bank to have its shares placed abroad through a global depositary Receipt (GDR) program. UBA thus has a more international and diversified shareholder base than any other Nigerian bank.

UBA Capital and Trust, one of UBA’s subsidiaries, handles specialized services including Asset Management , retirement and Pension, Executorships of wills, trust ship services etc. Nominee, custodial and share registration services are provided by UBA Securities services. An aggressive business promotion strategy has earned the bank an enviable position in the banking industry. Due to the competition in the banking sector, banks are mapping up the best strategy to meeting up the global challenges. UBA is one of the new generation banks in Nigeria that has one or two branches in each States of the Federation of which Enugu Branch is my case Study. From the studies carried out, their initial means of transactions was manual, to automated system then to computerized system which lacked some feature such as account to account transfer of different customers, instant messaging. This study focuses on total elimination of the manual means of transactions through the addition of more features in computerized system of banking. Effective adoption of computerized banking system, error rate, paper work, inefficiency, inconsistency which has been the features of manual means of transaction will drastically reduced or totally eliminated.

1.2 STATEMENT OF THE PROBLEM

In banking industries today, queuing has become the order of the day, customers’ line up for hours waiting to withdraw or deposit money. This creates a lot of problem to both customers as they waste their useful time in the baking hall. The management also wastes their time as they run around to find solution to their problems. Also it is observed that customers cannot withdraw money any time they want as banks has their working hours. This is a big problem as needs can arise at any time and human beings will always like to have those needs solved. Also money deposited into accounts at times takes some hours to reflect in the persons account balance hence making banking operations slow and unhealthy for business growth.

1.3 OBJECTIVES OF THE STUDY

The project has been planned to have the form of distributed architecture, with centralized storage database to improve on the speed and effectiveness, efficiency and conveniences in business   transaction. The standards of security and data protective mechanism have been given a big choice for paper usage. The application takes care of different modules and their associated reports. The only online transactions the customer can do are cheque book requisition and fund transfer among his personal accounts. Provide administration to control and monitor various transactions. The study and subsequent design and implementation of this program will be of immense use to the organization, the administration and the customers in realizing the speed, efficiency, effectiveness and convenience. The program takes care of those factors that militate against the smooth running of the organization using the computerized system services. Better still scholars who intend to carry out subsequent research could have this as base from where improvement could be made.

In a nut shell therefore, the following are the major objective of this work:

• To provide fast services, this reduces the queue in the banking hall.
• To provide an easy to operate system for the bank staff.
• To build a one time entry for customer details in the system.
• It requires minimum staff for easy operation.
• It reduces room for errors which might be caused by staff.
• To provide a minimum saving tie for customer and also staff.
• The system provides automatic calculation for accurate results.
• The system reduces the time normally spent trying to save data.
• A calculation like interest or rate is very fast and accurate under this system.

1.4 LIMITATION OF THE STUDY

The development of this work was not an easy task, the areas of sourcing for information and data collection was a challenging one. The materials apart from the one sourced from the internet were not easy as most information were journals that requires subscriptions in order to have access to it. Also gaining access and interviewing of various heads of their staff was not an easy one, most time I went, they are busy attending to customers. Again lack of sufficient funds to conduct an extensive study was another handicap. More so I found at that banks go through a lot in order to get a system which not only should be secure but also offers many order services as to the satisfaction of the customer. The financial implication as this project is concerned gulped money.

1.5 THE SCOPE OF THE STUDY

The application of this software is not only limited to banks alone but can be used equally by government establishment, cooperate organization and individuals to efficiently pilot the affairs and its management.

1.6 SIGNIFICANCE OF THE STUDY

The purpose of this project is to magnificently improve on the manual means of transaction in the banks which has lead to low output, customer’s dissatisfaction, inefficiency, inconsistency, error and poor storage data and information to computerized means of transaction system