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DESIGN AND IMPLEMENTATION OF SAVINGS ACCOUNT BANKING SYSTEM

1.1 Background of the Study

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 of 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 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 (Rozas, 2016).

Based on these facts, emphasis is placed on the main work of a computer as a data processing machine. Furthermore, the data processing will be narrowed down, in this project, to one important aspect of life; Finance. This is a project focused on the use of computer in banks and as a study, the use of computerized filing system of customer’s savings account details and transactions (deposit and withdrawal) in Aguleri Microfinance bank, Aguleri, Anambra State. 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 supports and assists in the supply of long and short term loan, accepts both current savings and fixed deposits, both foreign transactions, advice and facilitates transactions between client, workers, agents, firm, buyers and seller by providing payment services, not excluding the issue of undertaking risk on behalf of their clients, only to mention but a few.

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 (Govond, 2014).

The technological highway (the internet) has become an enabler for Banks 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). The technology facilitates linkages with clients both through the provision of information and quality service delivery, as well as in reducing barriers to entry into payment systems retail banking. Internet banking allows clients to engage in informal transaction relationship which would have taken long distance travels or movement of documents with the attendant risk of loss. With the computerized savings account system, one can at his/her own convenience review account balances and transactions, transfer funds, receive and pay bills, down-load transaction services and contact customer services just to mention but a few.

An over view of the benefits and prospects of the computerized banking suggest that for banks to be relevant to their customers in term of the services they provide in the twenty-first century and in the future, must append this services provided by E-commerce in the banking system in order to stay in competition. Therefore, banks need to get up and invest in internet technology to reap bounteously the benefit accruing from internet banking. Wireless access is a new challenging mission in the current Internet era, with different demand for information by using less efficient terminals and networks. What really motivated our choice of topic was the fact that Information and Communication Technology (ICT) is not yet fully applied in Aguleri Microfinance Bank and in our economy as a whole. We felt that Aguleri Microfinance Bank should also exploit the use and application of this wireless system in order to enhance their operations effectively and efficiently.

• Statement of the Problems

Some of the problems observed in the existing system are:

1. Time wastage: a lot of times are usually wasted using manual means to process customers’ information. The more the number of customers, the more time it takes.
2. The difficulties people face in transferring information/data.

• Duplication of effort: using manual means, some activities are carried out repeatedly which is a waste of time and effort.

1. Error involved with the manual method of checking, and updating customers’ information.
2. Loss of customers’ record due to misplacement.
3. It is very cumbersome to manually reconcile all customer information from different files sources into their work sheet.

• Data loss to simple accidents like rodent attacks, fire outbreaks etc. due to lack of backup.

1.3 Aim and Objectives of the Study

The aim of this study is to design and implement a Computer-based Savings Account Banking system. The objectives are;

1. To enhanced method of record keeping which is less stressful and easy to replicate.
2. To develop software called saving account banking system that will replace the manual method.

• To develop, promote, and provide adequate and efficiently savings account banking system.

1. To maintain an efficient system of collection, sorting and delivery of customers information.
2. To eliminate the error involved with the manual method of checking, and updating customers’ information.
3. To save the time wasted with manual method of checking customers’ information.

• To ensure easy flow of information between the management and all their customers.

1.4 Significance of the Study

The significance of the study is linked to the key attributes of a computer system i.e. speed accuracy and reliability. Banks are always expected to compute and manipulate a customer’s account details in a short time frame and with little or no mistake since there are other customers waiting to be attended to. Thus the significance of this study is to increase the speed and accuracy at which customers are tended reliably.  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 computer software for savings account banking transactions in Aguleri microfinance banks, Aguleri using visual basic. It is expected that this project will be successful enough to draw interest from other financial institutes.

1.6 Limitations of Study

In the course of carrying out this research work a number of problems were encountered.

1. Lack of adequate fund to finance the project: this was another limitation to this work because much money is needed to carry out a detailed research work which is not easily borne by every student.
2. Power Routine: The source and authority of Electric power supply Enugu Electricity Distribution Company (EEDC) is another limitation of this project. Some typed work was lost due to the power interruption and had to be retyped.

• Time Constraints: this is as a result of the research work colliding with academic work schedules thereby reducing the time for doing the research.

1. The limited knowledge of 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.

Banking: This is referred to as the act of keeping valuables (money, documents, properties, 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.

Code: It is a written guideline that helps to determine whether a specific action is ethical or unethical.

Computer: Computer 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: A database is a system intended to organize, store, and retrieve large amounts of data easily. It consists of an organized collection of data for one or more uses, typically in digital form.

Deposit: Money placed in an account.

Design: is the art or process of designing how something will look, work.

Device: It is an equipment or machine use in carrying out certain operations.

Documentation: material that provides official information or evidence that serves as record; written specifications and information that describes the product.

Finance: the management of money and other assets.

Information: These are processed data that help in the interpretation of a customers or organization’s bank details.

Input: A set of data sent to the computer processing.

Machine: A mechanical or electrical device that performs or assist in the performance of human tasks, whether physical or computational, laborious or for entertainment.

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.

Micro: relatively small

Operation: The method by which a device performs its function.

Report: Reports are often used to display the result of an experiment, investigation, or inquiry.

Savings: That which has been saved, particularly money that has been set aside for the future.

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.

Staff: a set of people, such as the employees or volunteers, within an Organization.

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: Receiving from a deposit made.