CHAPTER ONE
1.1 INTRODUCTION
Communication is the
transfer of information from one person known as the sender to another person, known
as the receiver. The role of communication in human life cannot be over
emphasized. A result of this, there is a need for computer to be used as a mean
of recording system in the bank; this gave rise to “intercommunication system
in banking operation”.
Intercommunication system in banking operation
can be defined as the process of carrying out the basic activities in a bank in
order to perform the desire function.
This
project describes the possibility of the operations of the united bank for
Africa (UBA) with the use of forms and frames to accept data and save it into
the database. It also describes the operation of banks which include keeping of
account for their customer.
Having
considered some of the operations of this bank. This project helped to perform
the basic operation of the banks and provides facility by which all the bank
activity can be accessed through the same database.
Through
information and communication technology (ICT) service available to united bank
for Africa (UBA) Ilorin, it can now give its customers a unified access to
manage their personal financial information. The adoption of information and
communication technology (ICT) by this bank has increased its operational
efficiencies, reduced cost through high utilization rate in ICT environment to
ensure compliance with changing time and to gain competitive advantage. Method
of handing financial services has to change from old manual transactions and
data processing to a faster, more effective and highly efficient electronic data
processing and electronic fund transfer (EFT) i.e. deposits withdrawals,
bills-pay-in, purchases of draft, valve for cheque, third-part transactions,
fund transfer and inquiries are all done electronically within seconds. The
adoption of information and communication technology (ICT) has also helped some
other standard banks in Nigeria to keep the peace with the changing customer.
The
complex nature of the banking system, its products and services have made it
necessary for banks to embrace changing as quick as possible since this medium
of banking has proven to be very efficient in most countries of the world (for
example American) and Nigerian is no exception.
This
research work is therefore on attempt to determine the intercommunication
system in banking operations on Nigeria banks.
1.2 AIM OF THE STUDY
Intercommunication system
in banking operation drives development and modernization of our payment system
and other transaction on line, to improve effectiveness of monetary policy in
managing inflation and economic growth.
OBJECTIVES OF THE STUDY
1. To reduce long queue in accessing customer records.
2. To support good customer relation.
3. Data storage is centralized updates to that data
are far easier to administer.
4. Ability to know the number of customers patronizing
the bank.
5. Ability to eradicate the stress passed through by
the staffs.
6. Ability to update and access staff details whenever
it is needed.
1.3 STATEMENT OF PROBLEM.
i.
LIMITED ACCESS
It may result from a lack of
connections to company’s intranet, ignorance of user names for the accounting
system, or restrictions on certain files or other document which are stored
electronically.
ii. SECURITY
ISSUES
Computer security is a common issue when conducting operation with
computer. Computer can ruin files or have incompatibility problems; the loss of
a laptop can result in a client’s information being available for compromise.
ii.
MANUAL SYSTEMS
Not all business has computerized accounting systems in place for their
financial operations. This can result in computers being somewhat worthless
during auditing process. Auditor may need to conduce manual calculations and
then enter the data into the computer; increasing time spent on the
calculations.
1.4 SIGNIFICANT
OF STUDY.
Intercommunication system in
the banking sector have enhanced customer service and productivity regarding
account management, while stream living back office activities. The biggest
impact is in the area of competition. Small banking institutions can access the
same technology as large banking institutions and therefore, can complete with
them more effectively for business.
1.5 SCOPE OF THE STUDY
This research work is limited to the basic operation of the United Bank
for Africa (UBA), but it does not made any reference to the rate at which the
bank give interest on certain amount of money deposited into their bank at a
particular point in time due to the fact that the bank did not give raw fact on
this area. It is also restricted to savings and fixed account operations.
1.6 ORGANISATION OF THE REPORT
This
project is divided into five distinct chapters. chapter one describe the
introduction, aim and objectives, significance of the study, problem of the
study, scope and limitation, the organization of the report as well as the
definition of technical terms.
The
second chapter talks about the basic concept of banking operation, importance
of intercommunication system in banking operation, computer in
intercommunication system, appraisal of literature review.
The
third chapter deals with the method of data collection, analysis of data and
the existing system, description the proposed system and the advantages of the
propose system.
The
second of the last chapter deals with the design of the system which entails
the output, input, database and procedure design of the system, the
implementation of the system, the implementation comprises of the hardware and
software support and the documentation, operating the system which comprises of
program documentation, operating tye system, maintaining the system.
The
last chapter deals with the summary, experience gained, conclusion and
recommendation.
1.7 TECHNICAL
TERMS OF THE STUDY STANDARD ACTIVITIES
Banks
act as payment agent by conducting checking or current accounts for customers
paying cheques drawn by customers on the bank, and collecting deposited to
customer’s current accounts. Banks also
enable customer payments via other payment methods such as automated clearing
house (ACH), wire transfer or telegraphic transfer and automated teller machine
(ATM).
Banks
can create new money when they make a loan. New loans throughout the banking
system generate new deposits elsewhere in the system. The money supply is
usually increased by the act of lending and reduced when loans are repaid
faster than new ones are generated.
Banks provide
different payment services, an a bank account is considered indispensable by
most businesses and individuals. Non-banks that provide payment services such
as remittance companies are normally not considered as an adequate substitute
for a bank account.
CHANNELS
Banks offer many
different channels to access their banking and other services:
Automated teller machines
A branch is a retail location
Call center
Mail: most banks accept cheque deposit via mail and
use mail to communicate to their customer e.g. by sending out statements.
Mobile banking is a method of using one’s mobile
phone to conduct banking transactions.
Online banking is a term used for performing
multiple transactions, payment e.t.c over the internet.