DESIGN AND STIMULATION OF AN ELECTRONIC FUND TRANSFER SYSTEM (A CASE STUDY OF FIRST BANK NIGERIA PLC ENUGU BRANCH)

ABSTRACT
Simulation as scientific process involves critical analysis and initiation of the real life of events using an electronic device, especially computer system and networking.
The feature grasps the utilization of these processes and transforms the stable system into acceptable or intended result.
After having viewed the constraints in series of activities in banking sector in the country, an attempt was made regarding utilization of the works computer system and network connection do understanding this concept an earlier attempt recalls the designing a new system that can resituate banks workers from the slumber working equipment (Manual System).
Realization this in the First Bank Nigeria Plc calls for analyzing an old system of money transfer forming Electronic Fund Transfer.  This excludes special software that is unbreakable in feature that can run the organizational fund transferring system. However in the security system the program contains more security features that enables banks workers to determine the owner of the fund transferred.
Having seen and observed this system towards developing safer and easier method of fund transfer yield more effort and zeal in to the analysis of this system to sound academic pursuit in institute of management and technology.  Perhaps this calls for implementation.

ORGANISATION OF WORK
This study has been organize in seven different chapters.
Chapter trashed out the statement of the problem background of the study, purpose of the study its aims and objectives, scope or delimitation, limitations or constraints, assumptions and definition of terms
Chapter two review of related literature while chapter three dealt with the description and analysis of the existing system.  The fact finding method used, organizational structure, objectives of the existing, system input process, output analysis information flow diagram, problems of the existing system and justification for the new system.
Chapter four presented the design of the new system.  Its output specification and design, file design procedure chart, system flowchart and system requirements.
Chapter five looked into the implementation the program design program flowchart, pseudocode, source program and test run.
Then chapter six was the documentation.
Chapter seven, this is for recommendation and conclusion and reference comes last.
CHAPTER ONE
1.0     INTRODUCTION
          Electronic fund transfer system is an organized process of transferring fund through electronic means by the use of computers where debit and credits are made into ones account.         
Having gone to First Bank Nigeria Plc, as one of the Commercial Banks that has ventured in Electronic Fund Transfer (ETF).  The system allows a customer account to be credited electronically within 24 hours anywhere in Nigeria it provides a more suitable and cost effective way of transferring fund when compared with the traditional means such as mail transfer and telegraphic transfer.
It is mere secure and time is saved when money is transferred through the Electronic fund transfer such money (fund) is transferred electronically by the bank through their accredited Branches or Agents.
Anybody in one of the state of a particular country who wishes to release fund to a client residing in other part to different state of some country will go to the nearest bank, that is nay first bank that does the fund transfer system and makes his or her deposit.
It will be available for payment within minutes from any part of the country, if one is to send fund through the system (in the event of its being introduced) as soon as the fund control number (F.T.C.N) is displayed on the screen.  This is an indication that the fund is now available for collection.
FEATURES
          The system is designed to handle the needs of fund transfer, customers and agents in an efficient and user – friendly manner.
The new and experienced ones can use this work its document the software works following the flow of transaction as they usually occur.  The money that link system provides frameworks within various relationships among state operating it.

1.1     STATEMENT OF PROBLEMS
          Fund transfer is a job, which involves complex data and tedious calculation.  Human beings cannot execute the job very urgent and faster, that is why the need for the activities of transferring fund automatically.
Manual transfer wastes too much time and it is generated very late, where there are many customers to attend to, it takes weeks to prepare the transfer which may affect the purpose of the transfer.
Some are short paid and thus makes the system unreliable.
The use of files, papers and file cabinet cost much and occupies much space.  It also wastes a lot of time during information retrieval.

1.2     PURPOSE OF THE STUDY
          Generally the purpose of the study is to find out a way towards enhancing better method which will be geared towards alleviating the frustrations customers undergo in a bit to collect fund credited to their account.  This is because instead of waiting for months, the entire transaction can be finished within a minute.
In addition, the offices in charge of the fund transfer will gain from this study because the problems they are facing have been detected and solution recommended.  The new and processing storage of data and generation of report required by the management for decision-making and perhaps for the development of the organization.