Design and Implementation of a Computerized Banking System
Chapter One
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.
CHAPTER TWO
REVIEW OF THE RELATED LITERTURE
THE EVOLUTION OF THE COMPUTERISED BANKING SYSTEM
During the 1990’s researchers at the Stanford Institute invented “ERMA” according to Molina (1990) the Electronic Recording Method of Accounting is a computer processing system. ERMA began as a project for the bank of America in an effort to computerize the banking industry. ERMA computerized the manual processing of checks and account management and automatically updated and posted checking accounts. Because of the historical evolution and peculiarities, engendered taking into account the model of the European structure of a banking system, a banking system n two levels has been created; the National Bank of Romania, as the Central Bank, and the Commercial Banks(Vossen,1991). Considering the role and importance held by the banks as regards the good operation of the economic agents and the requirements of all the categories of economic agents in the market economy, as well as of the physical persons – beneficiaries of credits, depositors etc.. The computers security system should be sound enough to maintain privacy of personal information. But still, we can that computerized banking is really a boom to the customers in accessing and managing their account effectively, anytime and almost anywhere. (Lewis, 2001). Recent media attention to information privacy issues has shown that citizens are increasingly concerned about information privacy and their right to it. Governmental and other organizations have been collecting data about individual’s t an increasing and to many, alarming rate. The ability to gather so much information on individuals is largely because of advances in information technology (Renon, 1997).
It is important for managers and professionals to understand the issues surrounding personal information privacy in order to protect the rights of those from and about whom they collect data. The speed employed by the computerized banking for executing and confirming the transactions is faster than the traditional speed of the ATM processing. (Bergstrom, 1994).
REGISTRATION AND SECURITY
Before user can actually use a secure computerized banking system, a registration procedure is performed. During this registration procedure, the security of the system is bootstrapped. The user has to obtain an initial means for entity authentication with which a first secure session can be established with the bank, thereafter, the regular security authenticators’ are enabled. It is clear that something goes wrong during this stage, the security of the rest of the computerized system is undermined (Renom, 1997).
In some situations, the ability of delegation within an electronic banking system is desired e.g. the manager of a department would like to be able to delegate right to one or more employees who needs to have access to the company’s banking transactions, or that parents would possibly delegate certain rights to their children. The use of ID and password. These and other security measures must be installed. Security in computerized banking is typically provided through effective prevention not only a breach of privacy, but other security concerns like the alteration of data, IT fraud, etc. But it is in ensuring system availability that banks still have a lot of work to do (Renom, 1997).
DATABASE MANAGEMENT SYSTEMS
Computers permit the collection and aggregation of statistical information which would be very time consuming, if not impossible to assemble from manual systems. Data are raw facts that constitute building blocks of information. Database is a collection of information and a means to manipulate data in a useful way, which must provide proper storage for large amount of data, easy and fast access and facilitates the processing of data. Database management system is a set of software that is used to define, store, manipulate and control the data in the database. A database provides integrated and structured collection of stored operational data which can be used or shared by application systems. The advanced database technology along with internet has proved faster communication and worldwide connectivity (Willits, 1992).
CHAPTER THREE
SECURITY FEATURES IN ONLINE BANKING SYSTEM
Security breaches in web-based banking are increasing in spite of having efficient technology. All the banks, which offer online banking system, take a special care and interest in building and developing their internet banking system. It s very important to give a special importance to features like security, Privacy, confidentiality and Authenticity (Fluaghter, 1990).
For security and privacy issues, there are protocols like Secure Socket Layer (SSL), Secure Electronic Transaction (SET), e-Cash, Smart Card, Digital Signature, and Digital Certificate. SSL is a protocol, which is embedded in the browsers, encrypts sensitive information like CC Numbers, passwords, SSN, etc, which cannot be interpreted by any unauthorized interceptors (Fluaghter, 1990).
CHAPTER FOUR
SUMMARY, CONCLUSION AND RECOMMENDATIONS
SUMMARY
The primary purpose of this project is to replace the existing manual processing with error free, high speed and low cost and should improve the system capability. Working on the project was good experience. I understand the importance of planning and designing as a part of software development.
CONCLUSION
The aim of this project is to provide a computerized banking system to be used in the bank to improve efficiency. Though in the long run, more features could still be added which will entail expanding the program to be more complex than this.
RECOMMENDATIONS
Proposed system improves the systems performance because the current system is based on manual processing while the proposed system is based on computer processing. The project can be further enhanced to provide different types of account facilities with providing different of interest on each type of accounts available in system. Also can be enhanced to provide different types of loans to each customer.
REFERENCES
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