AN APPRAISAL OF THE ROLE AND IMPACT OF COMPUTER IN THE BANKING OPERATIONS (A Case Study of United Bank for Africa Oregun Branch Lagos U.B.A)
The establishment of computer was to improve the various areas of life. This develops every industrial sectors of the economy. In the banking industry for instance requires computer in their operations primarily to speeding up every activities or transaction entered into. This became necessary in order to satisfy their numerous customers, safeguard the policies and documentations of every transaction for proper recordings and for reference purposes, and also to standardize the industry in terms of effective, efficiency, accuracy in their operational services so as to faster reliability in the industry.
Due to the importance and procedures subjected to by computerized Banking Operation, this research work have been broken into chapters beginning with chapter one as the introductory part which covers what the researcher intends to do.
This chapter covers the role and impact of banking industry in the nation’s economy with respect to the effective use of computer.
Chapter two covers review of related literature which tend to review various sources of information and related literature concerning the genesis of computer application in banking operation, the various controls and applications of computer packages and the profile of the United Bank for Africa Plc, Oregun Ikeja Branch Lagos organizational structure and chart before and after computerization.
Chapter three deals with research methodology, which includes the population sample and sample size and procedures, sample and sample size and procedures, method of data collection.
Chapter four deals with data analysis and implementation of data and also relates to the documentation where a test running was made in arriving at a summary of finding provided at the end.
Chapter five covers the conclusion, recommendation, and reference (i.e. the materials used for the execution of project) makes easy for comprehension and research.
TABLE OF CONTENTS
Table of Contents
CHAPTER ONE: INTRODUCTION
1.1 Background of the study
1.2 Statement of the problem
1.3 Research hypothesis
1.4 Significance of the study
1.5 The purpose of the study
1.6 Scope and limitation of the study
1.7 Historical background of the case study
1.8 Definition of terms
CHAPTER TWO: LITERATURE REVIEW
2.1 The operation of computer application in banking operation
2.2 Banking operational areas suitable for computer application
2.3 Application packages used in banking operations
2.4 Control in a computer system
2.5 Absence of computer in a firm
2.6 Computer effect in the new millennium
2.7 Types of computer
2.8 Things to avoid keeping the computer profile of United
2.9.0 Bank of African Plc
2.9.1 Organizational structure of UBA Plc
2.9.2 Organizational structure of UBA Plc Oregun Branch before computerization.
2.9.3 Organizational chart of UBA Plc Oregun Branch after computerization.
2.9.4 UBA Plc Oregun Branch operation before computerization.
2.9.5 UBA Plc Oregun Branch operation after computerization
2.9.6 The effect of computerization on UBA Plc Oregun Branch.
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Research design
3.2 Area of the study
3.3 Population of the study
3.4 Instrument of data collection
3.5 Research methodology
3.6 Method of data analysis
CHAPTER FOUR: DATA ANALYSIS AND INTERPRETATION
4.2 Post/position in the bank
4.3 Testing of hypothesis
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
1.1 BACKGROUND OF THE STUDY
Bank has a very important role of play in the economy of a nation. This became even more pronounced with the introduction of structural adjustment programme (SAP) in Nigeria. Banks offer a wide range of services to their customers in form of currents account, savings account, and fixed deposit account. Banks also provide credit facilities to customer on short and long term basis.
Bank except the very small firm; now use computers to handle their accounting data. When business embarks on computerized accounts, they soon appreciate that bookkeeping and accounting skills are more important than computing ones. This is because many systems are now developed to be user friendly, in that, they guide users through presenting screens of what to do next help.
The methods adopted in computer-based accounting adhere to the fundamental principles of accounting covered in this and other accounting textbooks. No matter how sophisticated and easy to use a computer system is, it will not overcome the need for bookkeeping and accounting knowledge by those in control. Apart from aknowledge of these principles in order to know how to best adapt a business from manual to computer-based accounting, accounting knowledge is required to help understand the significance of the outputs from a computer-based accounting system. Just as it is required in respect of output from a manual accounting system.
A global study of banks has shown that most banks daily operation has been computerized. Nigeria banks are not an exception with the increasing number of bank springing up daily, competition of customer has become very stiff, with such a competition each bank would like to excel, which probably explains why more banks are being computer applications in Nigeria banks are being computer applications in Nigeria banks may be a new phenomenon, but from all indication the practice is fact spreading, no wonder most newly established bank computer right from their inception.
Computer in banking can be defined as the application of computer banks towards delivering as well as assisting in their banking operation United Bank for Africa PLC Oregun Branch before and after computerization with a view of ascertaining possible differences in operation and hence the effect or computers in its operations.
1.2 STATEMENT OF THE PROBLEM
In the developed world, computers may be household items but in this part of the world, computer still remain a mystery to most, and this computer have not been fully understood and accepted. There is a general misconception that accepting computer technology constitutes on threat to jobs, power and control in organization.
Most Nigerians banks today are computerized or at least has some of their operation computerized. In the vein, newly established banks usually emerge with some degree of computerized. The explanation would be that banks computerized their operation in order to be more efficient and hence offer better services to their customer.
However, there are still some banks that have not fully computerized their customers. Then, the question there is, does computer actually increase the efficient of banking operation? And if so, these are between the problems and challenge to be addressed by this research study.
1.3 RESEARCH HYPOTHESIS
The following hypothesis has been postulated for validation in the course of this research study.
Computerization has not brought about any changes in banking operations.
Computerization has brought changes in banking operation
Computerization has made the job of employee easier.
Computerization has not made the job of employee easier
1.4 THE PURPOSE OF THE STUDY
The study is on the roles of computer on banking operations, it is aimed toward an empirical analysis of the role played by computers in banking operations. It is of particular importance to management and employees of the bank. The result of this study should be able to help them appreciate the importance of computers especially as regards banking operation. The appreciation of this fact will help them to find ways of making more effective use of the computer which at present is under used, in order to help them to improve their services.
The purpose of using the computer in banking industry is to boast the level of working or standard of operation in the banking industry.
1.5 SCOPE OF THE STUDY
The intention of carry out this research is to consider the appraisal of the role and impact of computer in banking operations.
Due to some problem confronted during the research work, which has actually limited the scope of this study to United Bank for Africa PLC, Oregun Branch.
1.6 LIMITATION OF THE STUDY
Inadequate source of needed materials example library access as textbooks. Problems of gathering the require data for the study.
Financial constraint in terms of transportation up and down to the industry location.
Time constraint of research data gathering
The attitude and the view of United Bank of Africa officials in responding to enquires required from them.
1.7 HISTORICAL BACKGROUND OF THE CASE STUDY
United Bank for Africa Plc (UBA) is a public limited company incorporated in Nigeria in 1961 and headquartered in Lagos.
(1) It is one of Africa’s leading financial institutions offering universal banking do more than #7million customers across 750 branches in African countries and a presence in New York London and Paris. Formed by the merger of the commercially focused UBA and the retail focused standard Trust Bank in 2005, the Bank has a clear ambition to be the dominant and leading financial services provider in Africa.
(2) Listed on the Nigerian stock exchange in 1970, UBA is rapidly evolving into a pan-African full service financial institution.
(3) In 2000, Europe’s front line finance and economy magazine, Euro money named UBA the best domestic bank in Nigeria.
(4) With a US regulated branch presence in New York since 1984, UBA capital (Europe) in london which was established as a UK regulated investment banking operation in January 2008 and a representative office In paris, France.
(5) Corporate profile since its historical emergence from the merger of former standard Trust Bank and UBA Plc, the UBA group has positioned itself to be Nigeria’s dominant bank and a leading player in Africa continent.
Under the direction of it GMD, CEO, Mr. Philip Oduoa, the management team of the group is made up of people with skills in various backgrounds as well as depths of experiences (garnered from national and international institutions). (citation needed).
BOARD OF DIRECTORS
(1) Chief Ferdinand Alabrada, Non-executive chairman.
(2) Philips Oduoza, Group Managing Director/Chief Executive Officer.
(1) Faith Tuedor-Mathews, Deputy Managing Director, UBA Nigeria North.
(2) Victor Osadolor, Deputy Managing Director, UBA Nigeria South.
(3) Emmanuel Nnorom, Executive Director, Group Executive Office.
(4) Ifeatu Onejeme, Executive Director, Corporate Banking
(1) Chief Kolawole Jamodu, OFR, Director
(2) Adekunle Olumide, OON, Director
(3) Foluke Abdul-Razaq - Director
(4) AMB Joseph Chiedu Keshi – Director
(5) Angela Nwabuoku – Director
UBA groups operating structure is organized around seven strategic business units (SBUs) and four strategic support units (SSUs)3, informed by the need to reinforce its leadership in serve delivery relationship management and the execution of its strategy. In addition, the GMD/CEO is supported by the group executive office consisting of the strategy office, the corporate transformation office of the chief of staff and advisers to the GMS/CEO.
UBA PLC NIGERIA – NORTH
UBA Plc Nigeria-North UBA Nigeria North covers the Northern region of Nigeria, whose economy is largely agrarian in nature.
UBA PLC NIGERIA – SOUTH
UBA Nigeria South covers the southern part of Nigeria constituting 18 of the 36 states of the federation. It provides services to large multinational and local customers across various industry lines including oil and gas, conglomerates, FMCG, construction.
UBA Africa was set up to take advantage of trade financing opportunities across content.
UBA REGISTRARS LIMITED
With over 30 years experience in share register administration services in Nigeria; UBA registrars limited emerged from the former UBA Global Markets Limited then engaged in the business of share registration, stock broking and issuing house, it was incorporated in March 2006 as a wholly owned subsidiary of UBA Plc.
1.8 DEFINITION OF TERMS
i. Appraisal: According to advance learner’s dictionaries is judgment of, or action of judging the value, quality and nature of something or somebody.
ii. Computer: Computer is an electronic device of instructions given to it. From the definition we can make three simple deductions.
iii. By electronic device: It means that computers use and depends on electricity, its operations are therefore auto-depend on electricity, its operations are therefore automatic.
iv. Acceptance of data: This means that a computer do not and cannot generate data by itself, but depends on data fed into it. Data are any collection of fact e.g. sales reports, inventory figures, examination sources, customers names and addresses, whether reports, photographs and drawings.
v. Data processing: This is manipulation of data into a more useful form or into desired output. A processed data is often regarded as information, which is the end- in view of the operation.
vi. Banking: The banking system within an economy may be described as the framework of laws and regulations of banks and practices which control the flow of financial resources within the economy. Also banking operation is system whereby the people are gathering or kept their money in order to transact with the banks. As a result of that the depositors would benefits a certain amount of profit upon the money kept with the banks.
vii. Role: This concept as sued in this study means the part of the concept.
viii. Impact: These are the effect of it in the organization.
ix. Operation: The study of business operation in order to improve their efficiency. Hardware components: Are collection of electro machine, whose activities are coordinated by central control units.
x. Software components: Is usually referred to as a general purpose machine for performing various types of data processing tasks.
xi. Employees: These are the set of the people working together in operations.
xii. Resources: These are the materials, which includes, money, land labour and others, that are put together in the operation..