This project work is concerned with the use of the Internet in banking operations, a case study of the All State Trust Bank Plc Enugu.
The Internet in acts over evolving state is becoming a serious method of business communication and data transfer worldwide. As such banks and other financial institutions are beginning to use the Internet as new vehicle for doing business. The Internet allows banks to offer both new services and level of convenience for existing services and allowing the consumers and customers to interact from any computer capable of making appropriate connections.
The technological developments have made most banks and other financial institutions to be more responsive to change and it is imperative to adopt the latest technology in order to maintain operational efficiency as a means of warding off competitive threat, to increase speed of transaction, improvement of customer’s convenience by reducing barriers to entry into payment systems and retail banking.
TABLE OF CONTENTS
Table of contents
1.1 Statement of the problem
1.2 Purpose of the study
1.3 Delimitation of the study
1.4 Limitation of the study
1.5 Significance of the study
1.6 Definition of terms
2.0 Review of related literature
3.0 Description and analysis of the existing system
3.1 Fact finding
3.2 Organization structure
3.3 Objective of the existing system
3.4 Input/output analysis
3.5 Analysis of the existing system
3.6 Information flow diagram
3.7 Problem of the existing system
3.8 Justification of the new system
4.0 Design of the new system
4.1 Output/input specification and design
4.2 Database design
4.3 Procedure chart
4.4 System flowchart
4.5 System requirement
7.0 Recommendation and conclusion
The greatest innovation that has taken place in the twenties century is in the realm of information technology. This is currently made possible by the introduction of the digital computers, which has been observed in the field of communication to be increasingly inseparable from communication to be increasingly from communication. This linkages often referred to as convergence is risen driven by technology and amplified by business trends the technology and business, foster growth in network systems that use communication links to connect subsidiary system (nodes) which may send, receive, direct and redirect information to, fro, sender and receiver.
Taking of the Internet a couple of years ago would have sound link a fair table but today the Internet is pervasive in almost every field of human endeavor changing the fundamentals of how are conduct national as well as international businesses. Few years of existence, the internet has shown that it can sliver the long sought after goal of electronic commerce.
It is worth noting that companies in developed countries world – wide have recognized the business potential of the internet and are getting connected to the network of networks in their million.
The financial Institution (Bank) is one of such organizations. Banking constitutes one of the most prominent life wire for socio – economic growth and development in any given nation. It support and assists in the supply of long and short term loan accept both current saving and fired deposits both foreign transaction, advice and facilitates transactions between client, workers, agents, firms, buyers, and sellers by providing payment services not excluding the issue of undertaking risk on behalf of their client, only to mention but few.
The Internet housing founds its application and acceptance in the banking profession has particularly put the banking industry on an accelerating pace of development. The Technological high may (Internet) has become an enable in achieving high level productivity and in handling volumes of transaction which would have been impossible without the use of On – line banking (E – Commerce)
This technology facilities linkage with clients both through the provision of information and quality service delivery as well in reducing barriers to entry into payment system and retail banking. Internet banking allows clients to engage in formal transaction relationship, which would have taken long distance travel or movement of document with the attendant risk of loss. With the On – line banking (Internet) you can at your convenience at home and at any time, review balances and transaction services and contact customer services but just to mention but few. An over view of the benefit and prospects of the On – line banking suggest that for banks to be relevant to their customers in terms of the services they provide in the twenty first century and in the future most append this services provide by E – Commerce in the banking system in order to stay in competition. Now that an on –line banking is the on thing bank should get up and invest in internet Technology to reap bounteously the benefit accruing from Internet banking.
1.1 STATEMENT OF PROBLEM.
The advances in the world of information technology it is almost recorded on a daily basics, consequently, rendering former communication equipment obsolete as people tilt towards the use of improved electronics that support E – commerce made possible through the use of the internet in the banking sector.
Although a significant improvement has been recorded in the use and development technology in the banking industry over the last decade. Most banks are still far from implementing technology-based strategies able to see them through competition in banking markets. This may be as a result of lack of awareness, the inability to evaluate the benefit derived from the use of the recent technological development (Internet) and capital shortage that may hamper the design and subsequent implementation of the technological tool hence denying customer of this advances services and their flexibility choice and convenience associated with the Internet banking.
The advantages offered by these toll calls for a review of an existing automated system and subsequent design and implementation of interactive web-site to improve the existing system
1.2 PURPOSE OF THE STUDY
- To investigate the lacks of the current automated system in term of modern technology appliances that support Internet banking services and suggest ways of updating them.
- To design a friendly web site that graphically advents goods and services provide by the institute on web pages.
- To improve in the speed effectiveness, efficiency and convenience in business transaction.
- To carry out a feasibility study on the organization for the purpose of installing an on link banking.
- To design and implement a computer software to solve this problems and rendering the services.
This study and subsequent design of the computer software is limited to the (All State Trust Bank) Enugu. Although limited to the above organization. The finding design and implementation of the software is likely to be applicable to other owned organization.
1.4 LIMITATION OF THE STUDY
Hard time is not new phenomena to an ordinary Nigeria but to the student researcher, it is even worse time and finance posed a lot of constraints to the work..
Consequently, difficulties were encountered during the collection of primary data. Most of the administration system engineers and clerk visited reluctantly refused interview for one reason or the other and being referred to and fro, the organization from one personnel to the other not excluding even security men.
Books related to this topic are relatively scarce and could only be gotten from the Internet, which took a lot of time and money.
However with persistence and perseverance reasonable facts were finally obtained.
1.5 SIGNIFICANCE OF THE STUDY
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 long south goal of speed, efficiency, effectiveness and convenience the program take care of those factors that militated against the smooth running operation of the organization using the on-line services. Provided by the web.
Better still scholars who intend to carry out subsequent research could have this as base from where improvement could be made.
1.6 DEFINITION OF TERMS
INTERNET The Internet is global network of computers.
LAN Local Area Network
MAN Metropolitan Area Network
WAN Wide Area Network
NT Network Termination
PIN Positive Intrinsic Negative
WEB The nearest and friendliest face of the Internet made of pages of information.
Virtual World As electronic stimulation experience all a head mounted eye goggle and wire dating enabling the end use to internet in realistic these dimensional situation.
ANALYSIS: The methodically investigation of a problem involving the separation of the problem into smaller related unit for further solving
Computer Base: Computer oriented problem solving
FORMAL: The arrangement of data
SOFTWARE: A set of logical instruction designed for the computer.
FILE: Is made up of fields and records
DATA BASE: Set of several permanent files integrated into a single file, which is available for many different uses.
PROCESS: A systematic sequence of operation
PROGRAM: Series of instruction that is given to the computer.
COMPUTER: Is an electronic device capable of accepting inputs, processing, storing and outputting information.
NETWORK: The inter-connection of computers.
WINDOWS: A type of operating system
REAL TIME: A computer that gives immediate result of the process data
ON – LINE: That can be access at any given time.
PASSWORD: A set of codes that give you access to a computer resources..
E-BANKING: Banking does with the computer means of transferring data.
TELE METRIC The use of telephone line couple with the computer in providing services.
CD ROM Compact disk read only memory.
Having completed the study the following assumption was made in running the program.
- That the customer has account 10
- The password
- The card pin and other relevant data for E – commerce validation.
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