CHAPTER ONE

1. INTRODUCTION

In the twentieth century, the banking word 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 statement 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 both processing nature of data that had 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 of terminal equipment which linked to computer center wee becoming a feasible position. This culimated in the early 1970s with the introduction of 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 CURRENT ACCOUNT TRANSACTION PROCESSING SYSTEM. For Nigeria banking industry. Although banks have develop packages, however, because of the following reasons they have failed to meet the need of the Nigeria banking industry. Firstly, guidelines and policies for banks in Nigeria are controlled by central bank of which they realize 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 sure the Nigeria banking industry will cost expenditure to be wasted.

       Efficiency in the banks has always been the foundation underline the effectiveness of banks operation. Quick and accurate settlement of customers withdrawals, for depositing system and procedures and the over acknowledge information process with which customers usually regard are also problems which computerized current transaction process wishes to address by introducing Nigeria software packages.

       This package will help Nigerian banks to obtain the efficiency in the current accounting transaction hence draw the customers and more money. It is menu drivers and features top-down and structured programming techniques.

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