CHAPTER ONE
INTRODUCTION
1.1 Background of the Study
Ecobank, whose official name is Ecobank Transnational Inc. (ETI), is a pan-African banking conglomerate, with banking operations in 36 African countries. It is the leading independent regional banking group in West Africa and Central Africa, serving wholesale and retail customers. It also maintains subsidiaries in Eastern and Southern Africa. ETI has representative offices in Angola, China, Dubai, France, South Africa, and the United Kingdom. ETI, a public limited liability company, was established as a bank holding company in 1985 under a private sector initiative spearheaded by the Federation of West African Chambers of Commerce and Industry, with the support of the Economic Community of West African States (ECOWAS). Ecobank offers so many products which includes: Banking services, Investments, funds transfers, products and services including pan-African lending, trade services, cash management, internet banking, value-chain finance, treasury services, corporate finance, investment banking and securities and asset management (Ecobank Group, 2015).
Data processing, being the main activity that a computer performs, refers to the manipulation of codes, handling and processing of data to provide reasonable information for human needs, computer is the machine designed to process these and to assist man as in the case vehicle s which assist the legs, binoculars and telescope to assist the eyes and microphones which assist the mouth (voice), computers are designed to assists man’s brain. These machines are equally essential to man’s day to day activities though their importance cannot be compared to that of computer. Computers aid man in key fields of endeavors and professionalism, from educational institution to medical expertise and diagnosis, security, law and order and even the government. Banking and finance and other economic operation cannot be explored to the fullest where computers are kept at bay. These fields all rely on information to operate and function smoothly and for information to be gotten on a steady, secured and reliable frequency, stored and processed without much stress or mistake, computer is introduced as it is a machine known for its efficiency and capability amongst its numerous qualities.
This project is focused majorly on the use of highly secured software for bank use. The use of card-based security software for customer’s savings account details and transactions (deposit and withdrawal) which helps to enhance the data security in the Bank. Customer care is a crucial element of business success. Every time you have contact with your customers you have an opportunity to improve your reputation with them and increase the likelihood of further sales. From your telephone manner to the efficiency of your order-fulfillment systems, almost every aspect of your business affects the way your customers view your business. What motivated the researcher to write this project is because of some reasons that was observed in the existing system. Some of the challenges are; firstly, absence of card-based security system, which makes it possible for intruders to gain access to sensitive information stored in the organization, lack of Data integrity: due to the manual mode of keeping record, Intruders enjoys ease access to the record – altering the sensitive information, and finally, data insecurity: Insecurity of customer information causes data loss. Because of the problems observed in the existing system, the used of card based security system was introduced to safeguard, prevent information system from the threats associated to them. Card based security system was introduced so that unauthorized access or abuse of important information will be eliminated.
- Statement of the Problems
Some problems observed in the existing system are:
- Time wastage: a lot of times are usually wasted using manual based security operation to register customer and allow customer to access their bank account. The more the number of customers, the more time it takes.
- The difficulties people face in transferring information/data.
- It is very cumbersome to manually reconcile all customer information from different files sources into their work sheet.
- The manual based security operation is time consuming, less accurate and less efficient.
- Loss of record: Information and records stored in cabinets could be physically damaged or due to lack of backup or lost due to theft.
- Aim and Objectives of the Study
The aim and objective of this research work is to design and implement a card based security system that will work towards the elimination of ineffective mode of operation in manual based security system.
The objectives of this study are as highlighted below;
- To develop a card based security for customers to enjoy banking services such as depositing and withdrawing money with their bank account.
- To develop software called card based security system that will replace the manual based security system.
- To enhanced method of record keeping which is less stressful and easy to replicate.
- To eliminate the error involved with the manual method of checking, and updating customers’ information.
- To save the time wasted with manual based security system.
- To ensure easy flow of information between the management and all their customers.
1.4 Significance of the Study
With the growth in information technology, the study offers numerous benefits to the EcoBank Plc. Owerri, and their Customers. With a card based security system customers will enjoy a secured banking services at ease. EcoBank – Staffs will experience easy, and error- free documentation of their customers’ transaction details with high secured database. Afterwards, further development can be made on the project work in accordance to the rapid development in information technology in the near future.
1.5 Scope of the Study
The scope of this project is limited to the development of a card based security system mainly for Ecobanks Plc., Owerri considering the card based security system. It is expected that this project will be successful enough to draw interest from other financial institutes.
1.6 Limitations of Study
Some of the constraints that may have in one-way or another affected the outcome of this work include:
- Lack of adequate fund to finance the project: this was one of the limitation to this work because much money is needed to carry out a detailed research work which is not easily borne by every student.
- The limited knowledge of ASP.net and Visual Basic programming was great challenge to this project. However, more research was made to complete this project successfully.
1.7 Definition of Terms
Analyst: This is a person or professional who studies the problem encountered by a system and creates means of solving them by introducing a better system.
ATM Card: It’s a payment or dedicated payment card issued by a financial institution (i.e. a bank) which enables a customer to access their financial accounts via its and others’ automated teller machines (ATMs) and make approved point of purchase retail transactions.
Banking: This is referred to as the act of keeping valuables (money, documents, properties, and ornaments) in a bank for safe keeping.
Business: is a legally recognized organization designed to provide goods, services, or both to consumers or tertiary business in exchange for money.
Card based: it is also known as e-money system, is an electronic payment system based on a tamper-proof device, with the properties of being pseudo-anonymous, offline, and non-circulating.
Computer: It is an electronic device operating the control of instructions stored in its memory that can accept data (input) manipulate the data according to a specified rules (processing) produces result output and stores the result for future use.
Customer: A customer is a person or organization who patronizes a bank for safe keeping of valuables.
Data processing: is defined as the entire process of converting or manipulating data into definite meaningful information (Adigwe, & Okoye, 2015).
Data: It is the facts collected for decision making they are facts that are kept to be processed to get more information.
Database Management System (DBMS): it is software which controls the flow of data and checks and checks on how data are stored.
Database: is an organized /unique collection of related files. It is a collection of schemas, tables, queries, reports, views and other object.
Deposit: it is a transaction involving a transfer of money to another party for safekeeping.
Design: is the art or process of designing how something will look, work.
Documentation: material that provides official information or evidence that serves as record; written specifications and information that describes the product.
Electronic Data Processing Equipment (EDP): it is a machine that performs the work of data manipulation.
Finance: the management of money and other assets.
Information: is a processed data that can be read and understand.
Management Information System (MIS): Information system that generates accurate timely and organized information so that manager and other user can make decision, solve problem supervise activities and track progress.
Management: Management is the function that coordinates the efforts of people to accomplish goals and objectives by using available resources efficiently and effectively. It includes planning, organizing, staffing, leading or directing, and controlling an organization or a system to accomplish a goal.
Security: This helps to prevent unauthorized users from illegally accessing certain data within the database, it protects your data/ files.
Software: These are set of logically related instructions given to the computer to perform some specific task.
Storage: is a device for recording (storing) information (data).
System: Is the collection of hardware and software, data information procedure and people.
Transaction: The act of conducting or carrying out business, negotiations or plans.
Withdrawal: it involves removing funds from a bank account, savings plan, pension, or trust. Or receiving from a deposit made.
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