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PROJECT TOPIC: AN INVESTIGATION INTO PROSPECTS AND PROBLEMS OF COMPUTERIZATION IN THE BANKING OPERATIONS

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CHAPTER ONE

  • INTRODUCTION

A computer is an automatic device made up of mechanical electronic components that is capable of accepting, storing and retrieving vast amount of data in formatting and also carry out operations such as (arithmetic,logic) under the control of a stored program a high speed and subsequently come out with result in useful form. It also store and analyze information fed into it, for calculating and controlling in machinery automatically. Dos Santos(1993)

It can also be defined as an electronic device that is capable of accepting data through input device, processing the data and giving out the useful and meaningful result called output or information through the output devices or store it for further processing. Mauer D.C (1993).

Generally, a computer is made up of  two components, which are HARDWARE AND SOFTWARE.

Hardware component of a computer is physical part of the system .i.e the part that can be touched and kicked about. While, Software component of a computer system is the set of instruction (program) that enables the hardware component to carryout certain functions. Akin .F .A (1996).

The computer accessories which are used in the banking operations include Automatic Teller Machine (ATM), Tele-banking, Remote access, interest banking, Global System Mobile (GSM) etc. Some questions that need to be answered are, how one can trust these channels, our personal data and transactions which are driven by technology. Are they reliable and accuracy? Is there a way out to independently validate the integrity of information? If we analyze, why the lack of trust exists, we realize that the primary issues center on the following aspect            of information security. Dos Santos (1993).

There are various ways through which computers are widely used in the banking industry. It can used to carry out from simple complex task if the banks. For example, instead of making manual records and then storing the files all data is stored on computer through the use of storage devices. It is more quick and procedure. More          data can be stored in this way. Moreover, data can easily stored, and retrieved from computers.

The online banking further give the evidence of excessive use of computers in banking sectors. Just in a couple of second you can retrieve all of your previous transactions in your accounts. Brynjofsson erik (1993). Various roles of computer accessories that make banking oiperations easier are Computer reduces the stress imposed on the Public Relation Officers  (P.R.O).       With the help of computer , there is no need to start looking for record of loans and advances rendered to any customer. With the help of computer the time consumed in performing this operation reduced. Brynjofsson Erik (1993).


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