Computerized Secured Bank Transaction Simulation System:- Amuchie, Somadina O.

ABSTRACT

The electronic banking (e-banking) system has become an important practice among commercial banks in Nigeria. The introduction of this banking system has improved banking efficiency in rendering services to customers and the public. However, the gains of e-banking have been associated with some hindrances ranging from internet failure to arbitrary withdrawal of money by customers which negates the cashless policy projected by the Central Bank of Nigeria (CBN). I was motivated to embark on this research because of to high risk of fraud in the country and the threat to the citizens of Nigeria causing many people to die prematurely due to the shock of financial fraud done on their bank account. This is due to poor e-banking security. It was in line with this that the study aims to examine the challenges facing this e-banking system and the prospects accruable to its adoption of a computerized secure bank transaction simulation system. Among the various suggestions made in this study to benefit maximally from e-banking- include the provision of an enabling environment that can guarantee the safety of lives and cash deposits of customers, provision of an interrupted power supply, and internet service to enjoy efficient services from the banks. The system was achieved by developing a computerized secure bank transaction simulation system, developing a platform that educates the public about e-banking frauds, and creating a module that introduces the use of bank transaction simulators to help customers familiarize themselves with e-bank for easy and better understanding of the process, build a database structure used to store data, design a platform that examines the challenges facing the current e-banking transaction system in Aba, among selected bank, create a platform that describes the possible opportunities for the adoption of the prospect computerized secured bank transaction simulation system. Enforceable e-banking regulations should be put in place to back up the cashless policy already initiated by the CBN. This will go a long way to reduce money laundering and reckless withdrawal of cash (account siphoning by so-called Yahoo boys) thereby boosting capital formation and investment in the economy. This research was realized through the adoption of primary and secondary sources of data collection which includes interviews, observation, questionnaires, the Internet, and journals. And the adoption of rapid application development (RAD) methodology. The system is implemented by using HTML as the front end, PHP as the back end and MYSQL as the database.

Table of Contents

Title page                                                                                                                           i

Certification                                                                                                                      ii

Dedication                                                                                                                       iii

Acknowledgment                                                                                                            iv

Table of Contents                                                                                                            v

Abstract                                                                                                                           ix

CHAPTER ONE: INTRODUCTION

            1.1 Background of Study                                                                                           1

            1.2 Statement of problem                                                                                           4

            1.3 Aim and objectives of the study                                                                           5

            1.4 Significance of Study                                                                                           6

            1.5 Scope of the Study                                                                                               6

CHAPTER TWO: LITERATURE REVIEW

            2.0 Overview of Related Literature                                                                            7

            2.1 The Concept of E-Banking                                                                                   7

            2.2 E-Banking and Nigerian Monetary Policy                                                            8

            2.3 Evolution of E-Banking                                                                                        9

            2.4 Types of E-banking                                                                                               10

2.5 Society for Worldwide Inter-Bank Financial Telecommunication (SWIFT)       12

            2.6 Importance of E-Banking                                                                                                 12

            2.6.1 From the Bank Point of View                                                                           12

            2.7.3 Benefits from the Customers’ Point of View                                                    15

2.7.2 Benefits to the General Economy                                                                      17

2.8 E-Banking System in the Ethiopian Banking Industry                                        17

            2.9 Frauds in Banks                                                                                                    18

            2.10 Classification of Bank Fraud                                                                              20

            2.11 Causes of Frauds in Nigeria Banks                                                                     23

CHAPTER THREE: RESEARCH METHODOLOGY AND SYSTEM ANALYSIS

            3.1 Research Methodology                                                                                         25

            3.1.1 Choice of the Research Methodology                                                               25

            3.2 Analysis of the existing system                                                                            28

            3.2.1 Weaknesses of the existing system                                                                    29

            3.3 Method of Data Collection                                                                                   29

            3.3.1 Primary source of data                                                                                       29

            3.3.2 Secondary source of data                                                                                  30

            3.4 Dataflow Diagram of the proposed system                                                          30

            3.5 Flowchart of the proposed System                                                                       30

            3.6 Class Diagram of the proposed system                                                                 31

            3.7 Activity Diagram of the proposed system                                                            32

            3.8 Analysis of the proposed system                                                                          34

            3.8.1 Input analysis of the proposed system                                                               34

            3.8.2 Output analysis of the proposed system                                                                        35

            3.8.3 Data analysis of the proposed system                                                                35

CHAPTER FOUR: SYSTEM DESIGN AND IMPLEMENTATION

            4.1 System Specification                                                                                            36

            4.1.1 Hardware Requirements                                                                                    36

            4.1.2 Human Resource Requirements                                                                         37

            4.1.3 Financial Requirements                                                                          37

            4.1.4 Functional Requirements                                                                                   37

            4.1.5 Non- Functional Requirements                                                                          37

            4.2 Overview of Software Design                                                                              38

            4.2.1 Model diagram of the proposed system                                                            39

            4.2.2 Architecture of the proposed system                                                                 40

            4.2.3 Operational mechanism for the proposed system                                              41

            4.2.4 Input Form Design                                                                                             42

            4.2.5 Output Form Design                                                                                         43

            4.2.6 Database Design                                                                                                           43

            4.3 System Implementation                                                                                        43

            4.3.1 Input Form Implementation                                                                               44

            4.3.2 Output Form Implementation                                                                            46

            4.3.4 Database Table Implementation                                                                        47

CHAPTER FOUR: SUMMARY, CONCLUSION AND RECOMMENDATIONS

            5.1 Summary                                                                                                               48

            5.2 Conclusion                                                                                                            48

            5.3 Recommendation                                                                                                  50

REFERENCES

APPENDICES