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DESIGN AND
IMPLEMENTATION OF REAL TIME CURRENT ACCOUNT TRANSACTION PROCESSING SYSTEM
ABSTRACT
UBN PLC, is a bank
which deals with customers account both current, savings, deposit loan etc.
The above-mentioned
processes and activities are not only time consuming but also stressful when
done manually. The complexity and strain processes involved. The
work will give birth to a computerized real time current account transaction
processing system. This will facilitate storage of customers’ information
as well as withdrawal of money from other branches without problems or
delay. It will also provide a secured customer account filling system.
It will generally
facilitate transaction processing in the bank.
ORGANISATION OF THE
WORK
Chapter One:
This chapter highlights aims and objectives of the study, the nature, its
limitation and delimitation, etc.
Chapter two: This deals with the
available literature as it is related to the project in question.
Chapter Three:
This chapter analyses the existing system with regard to the case study.
Chapter Four:
It deals with the design of the new system taken into consideration of the old
system
Chapter Five:
This section undertakes the implementation of the new system.
Chapter Six:
this deals with the documentation of the implementation procedures of the old
system.
Chapter Seven:
this deals with the recommendation for the running of the newly implemented
system and conclusion.
TABLE OF CONTENTS
Title
page
Abstract
Organization of the work
Table of
contents
CHAPTER ONE
1.0
Introduction
1.1
Statement of the problems
1.2
Purpose of study
1.3
Aims and objectives
1.4
The delimitations
1.5
The limitations
1.6
Assumptions
1.7
Definitions
of terms.
CHAPTER TWO
Literature
Review
CHAPTER THREE
3.0
Description and analysis of the existing system
3.1
Fact finding methods used.
3.2
Objectives of the existing system
3.3
Input, process and output analysis
3.4
Information flow diagram
3.5
Problems of the existing
system
3.6
Justification of the new
system.
CHAPTER FOUR
4.0
Output Specifications on Master Report
4.1
Input specification and
design
4.2
File
design
4.3
Procedure chart
4.4
System flowchart
4.5
System requirements
CHAPTER FIVE
5.0
Implementation
5.1
Program flowchart
5.2
Pseudo codes
5.3
Test run
CHAPTER SIX
6.0
Documentation
CHAPTER SEVEN
7.0
Recommendation and conclusion
7.1
Recommendation
7.2
Suggestions for further
research
References
CHAPTER ONE
INTRODUCTION
In the twentieth
Century, the banking world has seen a continuing process towards fully
computerized operations. At the start of the century there were few
mechanical aids with all ledgers, passbook and account statements being written
by hand. By 1920s the banks had graduated to mechanical accounting
combined with an increase in business, this trend towards mechanization was
continuous process, the staffing and expansion difficulties were tackled more
forcibly on the 1950 with assistance from electronic data processing
techniques. It was on the period that banks ordered their first
computers.
The early
installations were of a batch processing nature of data that had to be sent for
processing at the computer centre and reports produced. Throughout the
1960s more of the clerical work was computerized and eventually by the end of
1960s all accounts were computerized.
In the middle of
1960s the utilization of branch terminal equipment which linked directly to
computer centre was becoming a feasible proposition. This culminated in
the early 1970s with the introduction of a sophisticated real time system in
current Account Transaction Department.
This project aim is
to produce an indigenous software package, which will be used to improve the
efficiency of the CURRENT ACCOUTN TRANSACTION PROCESSING SYSTEM for Nigeria
Banking Industry. Although banks have developed packages, however,
because of the following reasons they have failed to meet the need of the
Nigerian Banking Industry. Firstly, guidelines and policies for banks in
Nigeria are controlled by central banks of which they revise annually thereby
resulting in unsteady policies as a result; there is no standard whatsoever set
for the banking industry thus banking policies are flexible.
Most of these banks
use packages without modification hence the result is not what they
desire. The modification of these packages to suit the Nigeria Banking Industry
will cost expenditure to be wasted.
Efficiency in the
banks has always been the foundation underlining the effectiveness of banks
operation. Quick and accurate settlement of customers withdrawals, fast
depositing system and procedures and the over acknowledged information process
with which customers usually regard are also problems which computerized
current transaction processes wishes to address by introducing Nigeria software
packages.
This package will
help Nigerian banks to obtain the efficiency in their current accounting
transaction hence draw more customers and more money. It is menu driven
and features top-down and structured programming techniques.
Real mode of
operation provides an instantaneous transaction and processing of data, which
gives immediate availability of result for decision-making. It has
improved the efficiency of banks by:
(i)
Customers; henceforth spent much less time in collecting their money.
(ii)
There were seldom any mistakes because computer handled almost all
operations. If there is any mistake, the computer can always easily pick
it.
(iii)
There was customer’s satisfaction and bank recorded substantial increase in
their profits.
1.1
STATEMENT OF THE PROBLEMS
There are many
methods that are being used in current account transaction processing
system. Unfortunately, these methods are not always real in practice, to
the day society. Even when they are real, they are not as efficient as
expected. Some of the problems encountered by UBN are:
(i)
Lack of computer for storage, there is tendency of the UBN to loose customer’s
file which will bring distrust to them;
(ii)
Due to lack of computer for accessing the file, there is tendency for them to
be shown in retrieval of customer’s files, and updating of files.
(iii)
Customers spend much time due to the delay of the bank.
(iv)
Once there is not computer for calculation, there is tendency for their
calculation to be inaccurate.
However, the
researcher shall by the end of this work provide a suitable solution to these
pressing problems of Current Account Transaction processing system.
1.2
PURPOSE OF THE STUDY
All effects of the
researchers are pearled towards the gathering of sufficient information that
would help in making suggestions as to how the current accounts transaction
will be alleviated in the banks using real time mode of operation. The
study attempted:
(i)
To reduce staff pressure: With the increased utilization of banking
services, branch staff have been placed on a pressure situation in which they
are expected to deal with increasing volumes of business with computer, there
is relief of clerical boredom.
(ii)
Improve customer service: It has been felt for some time that the high
standards of customer service are deteriorating largely due to the fact that
branch staff is under continuing pressure to deal with more transactions rate.
(iii)
To increase the efficiency and productivity of bank services.
(iv)
Care at immediate response to account inquiries, information will be provided
more quickly than under a manual or batch system. It is possible for
example to monitor the cash flow into and out of the branches as the movement
occurs.
(v)
Reliability: The information provided by computer system is more
accurate and reliable than that produced under a manual system subjective
judgments and human inaccuracies are to a great extent eliminated. It
could be urged, however, that middle management is being by-assed and the
responsibility of the branch manager’s role is being diminished. The
interpretation of branch statistics and the resultant decisions can now be made
centrally and they will not be subject to possible personal considerations.
(vi)
Variety: The real-time system allows a greater variety of management
information to be produced. Furthermore, this information is of greater
quantity that can be envisaged under a manual system.
1.3
AIMS AND OBJECTIVES
The
objectives of this study is to find way through which the real-time current
account transaction processing system could be improved with emphasis on Union
Bank of Nigeria.
This
could be (effective) achieved by designing a software package that will help
the UBN to establish corporate policies, which will provide guide-line that
will help to achieve their objectives. To provide an efficient computer
based information system for easy updating storage and retrieval of
information. To reduce the time the manual processing methods takes.
To
provide a system, which will respond to urgent matter, this will provide a
solution to an urgent enquiry finally to provide reliable and accurate
information.
1.4
DELIMITATIONS
The study is
delimited to Union Bank of Nigeria PLC, Enugu branch. Generally, in
Nigeria, the operations carried out by the current and savings accounts are
virtually the same.
The banks at the time
of this research has got its above-mentioned departments computerizes.
Again the other department of the banks could be involved to see the
achievement made in such areas by the introduction of computers in the
banks. This research involved programs to current account transaction
operations, and did not include program for savings account.
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