DESIGN AND IMPLEMENTATION OF A COMPUTERIZED BANKING SYSTEM

CHAPTER ONE

1. INTRODUCTION

1.1     THE OVERVIEW OF THE STUDY

Banking has come a long way from the time of ledger cards and other manual filing systems. Most banks today are computerized to handle their daily voluminous tasks of information retrieval, storage, and processing.  Irrespective of whether they are automated or not, banks by their natures are involved in all forms of Information Technology and Management on continuous basis (Molina, 1997).

Banks play their significant role in any economic system. They are financial intermediaries involve in transfers of funds within and outside the country. Banking sector is getting competitive every day. Quantity, speed, efficiency and innovations are the main points on which quality programs are designed. All banks are engaged in same basic banking activities but it is the way of delivery of services that distinguishes one bank form the other. All banks worldwide are considering quality in the strategic management. Taking a proactive stance against privacy invasion could help stave off government intervention in passing legislation to create tighter controls over what can be done with an individual's personal data. The development of computerized banking system, however, involves a substantial amount of work, which ranges from collecting sufficiently large number of data items. Computerized banking system uses computer technology to relieve the consumer of the paper based and time consuming work. Computerized banks have started utilizing powerful computer networks resources for automating large numbers of daily transactions, which minimizes the time consuming manual paper work and giving access too many different banking services to its clients instantly, on demand, at home or at work. With the help of computerized banking, one can have access to money and banking functions anytime and anywhere, even where there is internet access (Renom, 1997).