DESIGN AND IMPLEMENTATION OF A COMPUTERIZED TRANSACTION RECIEPT GENERATING SYSTEM FOR AN ATM MACHINE (A CASE STUDY OF FIRST BANK OF NIGERIA PLC)

CHAPTER ONE

1.0 INTRODUCTION

The computerization of the banking/financial sector of the economy has really helped eliminate the manual operation of the sector including the innovation of paperless.

Following this, is the introduction of development of the ATM (Automated teller Machine) which had the most laudable effect in the sector. However, the ATM has really terminated most of the stressful work in the banking sector like queing to check account balance, delay in cash withdrawing and transfer etc.

The ATM gained acceptance due to its Mechanism like dispensing Mechanism (to provide cash on often items of value), deposit mechanism including cheques processing module and batch not acceptor (to allow the customer to make deposits), security sensor and locks (to ensure controlled access to the contents of the vault).

In this work, we examined our overview of the ATM and its record printer.

1.1 BACKGROUND OF THE STUDY

First Bank of Nigeria, sometimes referred to as FirstBank, is a Nigerian multinational bank and financial services company. It is the country's largest bank by assets.

The emergency of the ATM brought about the transformation in the banking sector giving rise to inter-bankng services.

The Automated Teller Machine (ATM) is a self-service machine that dispenses cash and performs some human teller functions like balance enquiry, bills payments, mini statements and so on. ATM transactions are carried out through the use of a debit/credit card which enables the card holder(s) to access and carry out banking transactions without a teller.

However, the ATMs inability to generate a hard copy of the operations carried out it has been a concern over the years. In a bid develop a receipt generating system for the ATM to enhance its user-friendliness and flexibility, this study was carried out.

1.2 STATEMENT OF THE PROBLEM

Notwithstanding the effective and excellent performance of ATM, its inability to generate a receipt after usage has posed a challenge to users. This is a situation where the machine is unable to issue a receipt which contain the users account details such as the previous balance before withdrawal (in the case of withdrawal), and current balance to the user/customer. Another problem of the system is its failure to issue a record of the business transactions carried out on it.

1.3 OBJECTIVE OF THE STUDY

The objective of this study which is the design and implementation of a transactions receipt generating system for an ATM is as follows:-

Redesign and restructure the ATM in a way that it will not only give softcopy of the transaction rather be capable of generating a hardcopy of the business transactions carried out on it.

Enhance the user’s friendliness with the machine since the machine gives him/her a valid update of the account detail each time he/her uses the machine

1.4 SCOPE OF THE STUDY

The scope of this study which bothers on design and implementation of a transaction receipt generating system for an ATM is limited only to :-

Payment receipt

Withdrawal receipt

However, other companies may maintain different sources of receipt or teller, but this study, concentrates only on payment and withdrawal receipt system for First bank plc, Obosi Onitsha Anambra state.

1.5 SIGNIFICANT OF THE STUDY

The development of receipt generating system for an ATM enhance the user’s/customer’s knowledge of his/her account details (a complete up to date statement of account) since the system produces a receipt for the transactions he/she made. This also eliminates conflicts over statement of account between the customer and the bank’s operators and also helped transformed our economy from its cash driven nature to a more electronic was of cash conveyance and withdrawal.

1.6 LIMITATIONS OF THE STUDY

This section discloses the constraints encountered on the course of writing this piece of work. The below is the under listed limitations encountered.

TIME FACTOR:- Considering the limited time for the semester and the time to gather material/information from the project study, it was not really easy on me but all the same, I tried to apply the principle of time management.

MONEY:- a lot of money was involved in sourcing for material, running the program, typing and printing the work and binding aspect

PROBLEM ENCOUNTERED DURING THE WRITE UP:- The toughest was on the debugging of the program, although the research aspect also posed some problems

1.7     DEFINITION OF TERMS

       i.            ATM: Automated Teller Machine; is a self-service machine that dispenses cash and performs some human teller functions like balance enquiry, bills payments, mini statements and so on.

     ii.            Receipt: A piece of evidence showing/certifying that a good or service has been paid for in good terms and conditions

  iii.            Short messaging service (SMS): a service offered by mobile network operators and users with mobile phones (GSM, CDMA, TDMA, etc.)

  iv.            Interactive voice response (I.V.R): this is a stored message on a particular number line of which a user can call and listen, it also provides option memo the user can use to make request or access information.

     v.            Wireless Access Protocol (WAP): a mobile technology one can use to browse the internet using a mobile device such as a mobile phone. Bank: An institution that provides financial services such as cash deposit, savings and funds transfer etc.

  vi.            Mobile: Ability to use on the go.                        

vii.            Service Oriented Application Protocol:  this is a mobile application provided by mobile network operators which enables users of the network to gain access to bank details via the se of mobile devices (phones).

viii.            Bank Cheque:  A statutory mode of settlement used in the payment of bills. It is also called a promissory note. It is issued in place of cash.

CONTINUE TO CHAPTER TWO