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Intercommunication System In Banking Operation
[A CASE STUDY OF UNITED BANK FOR AFRICA, ILORIN]
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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.
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ABSRACT - [ Total Page(s): 1 ]ABSTRACT Intercommunication system in banking operation is a system which allows customers to be attended in a bank in order to carry out the basic operation necessary in a bank like deposit, withdrawal etc. and also covers the aspects of the Automated Teller Machine (ATM). ... Continue reading---
