DESIGN AND IMPLEMENTATION OF A COMPUTERISED ONLINE BANK VERIFICATION NUMBER (BVN) SYSTEM


DESIGN AND IMPLEMENTATION OF AN ONLINE BANK VERIFICATION NUMBER (BVN) SYSTEM

ABSTRACT:      

The Bank Verification Number (BVN)became imperative following the increasing incidence of compromise on conventional security systems such as password and Personal Identification Number (PIN) of customers. The BVN involves identifying an individual based on physiological or behavioral attributes, such as fingerprint, signatures and others. The customers unique BVN is accepted as a means of identification across all banks system.On the basis of introducing the concepts of Bank Verification Number system, this project work illustrates the role that the BVN plays in Nigerian banks.This research work also analyses the existing mode of operation in the banking industry including the need to implement our newly designed Online Bank Verification Number system using PHP as the programming language.

TABLE OF CONTENTS

Content                                            Page

Title page    -    -    -    -    -    -    -    -    -    -    i

Approval    -    -    -    -    -    -    -    -    -    -    ii

Dedication    -    -    -    -    -    -    -    -    -    -    iii

Acknowledgement    -    -    -    -    -    -    -    -    -    iv

Abstract    -    -    -    -    -    -    -    -    -    -    v

CHAPTER ONE

INTRODUCTION

1.2 STATEMENT OF THE PROBLEM

1.3 RESEARCH OBJECTIVES

1.4 RESEARCH QUESTIONS

1.5 SIGNIFICANCE OF THE STUDY   

1.6 DEFINITION OF TERMS

REFERENCES

CHAPTER TWO

2.0 INTRODUCTION

2.1 WHAT IS BANK VERIFICATION NUMBER(BVN)

2.2 THE IMPORTANCE OF BANK VERIFICATION NUMBER

2.3 ENROLMENT PROCESS

2.4  NUBAN (Nigerian Uniform Bank Account Number)

2.4.1 WHAT IS NUBAN?

2.4.2  TRANSITION

2.5 DIFFERENCES BETWEEN BVN AND NUBAN

CONCEPTUAL ISSUES

THE HISTORICAL DEVELOPMENT OF COMPUTER IN THE BANKING

INDUSTRY

NATURE OF FRAUD

 WHAT IS FRAUD?

TYPES OF FRAUD

NATURE OF COMPUTER FRAUD

TYPES OF FRAUD PECULIAR TO BANKS

        TYPES OF LOAN FRAUDS

COMPUTER FRAUD IN BANKS

FRAUD AS A COMPUTER ABUSE

STAGES OF COMPUTER FRAUD IN BANKS

    THE INPUT STAGE

PROCESSING / PROGRAMME STATE

OUTPUT STAGE

CONTROL OF COMPUTER FRAUDS

    POLICIES CONTROL

TACTICAL CONTROL

CHAPTER THREE

SYSTEM ANALYSIS AND DESIGN

3.0      Introduction

3.1     Research Methodology

3.2    SYSTEM REQUIREMENT SPECIFICATION

3.3    SYSTEM DESIGN

3.3.1    LOGICAL DESIGN 

3.3.2    INPUT DESIGN

3.3.3    OUTPUT DESIGN

3.3.4    MENU DESIGN

3.4    USE CASE DIAGRAM

3.5    Program Flowchart

3.6    Database Structure

CHAPTER FOUR

SYSTEM IMPLEMENTATION

4.1.0    INTRODUCTION

4.2.0    FEATURES OF IMPLEMENTATION LANGUAGES  

4.3.0    SYSTEM TESTING STRATEGIES

4.3.1    UNIT TEST  

4.3.2    INTEGRATION TESTING   

4.4.0    TARGET COMPUTER SYSTEM REQUIREMENTS

4.5.0    SOFTWARE MAINTENANCE ISSUES

4.5.1    CORRECTIVE MAINTENANCE

4.5.2    PREVENTIVE MAINTENANCE

4.5.3    ADAPTIVE MAINTENANCE

CHAPTER FIVE

5.0    Introduction

5.1    Constraints of the Study

5.2    Summary

5.3    CONCLUSION

5.4    Recommendations

REFERENCES

JOURNALS

SOURCE CODE

APPENDIX

CHAPTER ONE

INTRODUCTION

Faced with the problem of insecurity on customer accounts, the Central Bank of Nigeria (CBN) on February, 2014 initiated a compulsory bank verification number exercise which provides account holders with a unique number that enables the account holder to have a single identity in the banking system aimed at protecting bank customers from identity theft and other financial/economic crimes emanating in the banking sector of Nigeria (Orji, 2014) .

The Bank Verification Nlumber (BVN) is a bold step taken by the Central Bank of Nigeria, to strengthen security in the banking sector of Nigeria. One beauty of the BVN is that transactions will be safer once it is implemented fully. The BVN exercise aims at ensuring that bank transactions are safer and fraudulent transactions are minimized, if not totally eliminated. The campaign is on, but the public may not realize its importance until it closes in in the new extension deadline, October 2015.

BVN uses biometric technology to register customers in the banking sector. It records these physical features which are unique to individuals – fingerprints and the face. The record would be used to identify the person afterwards. Once a person’s biometrics have been recorded, and BVN issued the account would be accessed through BVN. The major objectives of the initiative are to protect bank customers, reduce fraud and strengthen the Nigerian banking system.

Biometric enrolment is helpful to people who cannot read and write. Their finger prints and pictures would serve the same purpose as signatures. Multiple account holders would be covered with a single registration in any of the banks where they have accounts.

BVN will help the banking system reduce situations where loan defaulters, for instance, move from one bank to the other and the banks extend new credits to them, without knowing their history.  Banks would be able to track transactions across all banks in Nigeria with more ease.

1.2 STATEMENT OF THE PROBLEM

Over the years, the banking sector of Nigeria has played the role of the intermediate body in regards to ensuring the smooth running of the economy and coordination other sectors involved in the circular flow of income in the Nigerian economy.  However, growth in this sector has been reduced due to high cases of economic and financial crimes (Udenze, 2014). Fraud and money laundering have had adverse impacts on our national development and particularly on the financial system. They have caused damage to the reputation of the image of the country, loss of FDI, poor infrastructural devel­opment, dwindling confidence and distortions in our political as well as financial systems, among other things.

In view of these crises crimes perpetuated by cyber thieves, the mandatory bank verification number exercise embarked by various banks nationwide has also caused congestions in banking halls. Although the exercise commenced since February, 2014, the fire brigade approach of most Nigerians has warranted most bank halls to be filled to its maximum capacity. Queues in some banks even extended outside the banking hall. This development has caused confusion in some banking halls as other transactions are placed on hold due to inadequate staff to attend to clients or delayed indefinitely.

1.3 RESEARCH OBJECTIVES

The main objective of this paper is to design and implement a computerized Bank Verification Number System for Nigerians in the Diaspora and at home to use. Specific objectives of the study are:

1.    To examine the benefits of adopting an online BVN system.

2.    To identify the necessary structures need to run a successful online BVN system.

3.    To identify challenges in the design and implementation of an online BVN system.

4.    To design and implement and online BVN system.

1.4 RESEARCH QUESTIONS

1.    What are the benefits of adopting an online BVN system?

2.    What necessary structures are needed to run a successful online BVN system?

3.    What challenges exist in the design and implementation of an online BVN system?

1.5 SIGNIFICANCE OF THE STUDY   

The study will aid in reducing queues at banking halls and reducing identity theft if successfully implemented. Bank managers and other stakeholder in the banking industry of Nigeria can use this web application to restore confidence in the banking sector as more clients will be assured that their funds are safe, and the stress of queuing at banks will be totally eliminated.

The study will also serve as a guide to other student researchers who may want to conduct further research on the subject matter. Findings and recommendations from this system will aid in developing newer versions to serve optimally.

1.6 DEFINITION OF TERMS

BVN: Bank Verification Number

CBN: Central Bank of Nigeria

Biometrics: Biometrics refers to identification of an individual based on physiological attributes- fingerprint, voice, facial features etc.

REFERENCES

Udenze, B. (2014). BVN: CBN targets 80% fraud reduction in

banking sector. Obtainable at http//sunnewsonlinecom/new/bvn-cbn-targets-80-fraud-reduction-banking-sector/

Orji, V, O. (2015).Knowledge management systems: Issues,

challenges, and benefits. Communications of the Association for Information Systems, 1(7).

.

DESIGN AND IMPLEMENTATION OF A COMPUTERISED ONLINE BANK VERIFICATION NUMBER (BVN) SYSTEM



TYPE IN YOUR TOPIC AND CLICK SEARCH.






RESEARCHWAP.NET

Researchwap.net is an online repository for free project topics and research materials, articles and custom writing of research works. We’re an online resource centre that provides a vast database for students to access numerous research project topics and materials. Researchwap.net guides and assist Postgraduate, Undergraduate and Final Year Students with well researched and quality project topics, topic ideas, research guides and project materials. We’re reliable and trustworthy, and we really understand what is called “time factor”, that is why we’ve simplified the process so that students can get their research projects ready on time. Our platform provides more educational services, such as hiring a writer, research analysis, and software for computer science research and we also seriously adhere to a timely delivery.

TESTIMONIES FROM OUR CLIENTS


Please feel free to carefully review some written and captured responses from our satisfied clients.

  • "Exceptionally outstanding. Highly recommend for all who wish to have effective and excellent project defence. Easily Accessable, Affordable, Effective and effective."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "I saw this website on facebook page and I did not even bother since I was in a hurry to complete my project. But I am totally amazed that when I visited the website and saw the topic I was looking for and I decided to give a try and now I have received it within an hour after ordering the material. Am grateful guys!"

    Hilary Yusuf, United States International University Africa, Nairobi, Kenya.
  • "Researchwap.net is a website I recommend to all student and researchers within and outside the country. The web owners are doing great job and I appreciate them for that. Once again, thank you very much "researchwap.net" and God bless you and your business! ."

    Debby Henry George, Massachusetts Institute of Technology (MIT), Cambridge, USA.
  • "Great User Experience, Nice flows and Superb functionalities.The app is indeed a great tech innovation for greasing the wheels of final year, research and other pedagogical related project works. A trial would definitely convince you."

    Lamilare Valentine, Kwame Nkrumah University, Kumasi, Ghana.
  • "I love what you guys are doing, your material guided me well through my research. Thank you for helping me achieve academic success."

    Sampson, University of Nigeria, Nsukka.
  • "researchwap.com is God-sent! I got good grades in my seminar and project with the help of your service, thank you soooooo much."

    Cynthia, Akwa Ibom State University .
  • "Sorry, it was in my spam folder all along, I should have looked it up properly first. Please keep up the good work, your team is quite commited. Am grateful...I will certainly refer my friends too."

    Elizabeth, Obafemi Awolowo University
  • "Am happy the defense went well, thanks to your articles. I may not be able to express how grateful I am for all your assistance, but on my honour, I owe you guys a good number of referrals. Thank you once again."

    Ali Olanrewaju, Lagos State University.
  • "My Dear Researchwap, initially I never believed one can actually do honest business transactions with Nigerians online until i stumbled into your website. You have broken a new legacy of record as far as am concerned. Keep up the good work!"

    Willie Ekereobong, University of Port Harcourt.
  • "WOW, SO IT'S TRUE??!! I can't believe I got this quality work for just 3k...I thought it was scam ooo. I wouldn't mind if it goes for over 5k, its worth it. Thank you!"

    Theressa, Igbinedion University.
  • "I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much researchwap.com, infact, I owe my graduating well today to you guys...."

    Joseph, Abia state Polytechnic.
  • "My friend told me about ResearchWap website, I doubted her until I saw her receive her full project in less than 15 miniutes, I tried mine too and got it same, right now, am telling everyone in my school about researchwap.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work"

    Christiana, Landmark University .
  • "I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!."

    Musa, Federal University of Technology Minna
  • "I was scared at first when I saw your website but I decided to risk my last 3k and surprisingly I got my complete project in my email box instantly. This is so nice!!!."

    Ali Obafemi, Ibrahim Badamasi Babangida University, Niger State.
  • To contribute to our success story, send us a feedback or please kindly call 2348037664978.
    Then your comment and contact will be published here also with your consent.

    Thank you for choosing researchwap.com.