ABSTRACT
The important of Automated
Teller Machine (ATM) is not well appreciated by many individual concerns in the
country; consequently, lack of effective and ignorance of individual still
remains one of the most difficulties militating against the success of most our
bank performance. The purpose of this study was to know the problem and
prospects of Automated Teller Machine (ATM) system in the Banking Sector: A
case study of selected bank in Auchi “First Bank” in particular, and update any
obsolete techniques in line with recent bends and to know how effective it
relate with management control system and how it is to be maintained the Bank,
and its efficiency to the customers performance.
TABLE OF CONTENTS
Title Page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of Contents vi
Chapter One: Introduction 1
1.1 Background to the Study 1
1.2 Statement of Problem 4
1.3 Research Questions 5
1.4 Objectives of the Study 6
1.5 Statement of Hypothesis 7
1.6 Significance of the Study 8
1.7 Scope of Study 8
1.8 Limitation of Study 9
1.9 Definition of Terms 10
Chapter
Two: Review of Related Literature 11
2.1 Introduction 11
2.2 Automated Teller Machine (ATM) 14
2.3 Types of Automated Teller Machine (ATM) 18
2.4 The Problems and Solutions Associated with
Automated Teller Machine
(ATM) 20
2.5 The Impact of Automated Teller Machine (ATM) on
Banking Services 23
2.6 Advantages and Disadvantages of Automated
Teller Machine (ATM) 24
Chapter
Three: Research Method and Design 26
3.1 Introduction 26
3.2 Research
Design 26
3.3 Instruments
of Data Collection 26
3.4 Method
of Data Collection 27
3.5 Method
of Data Analysis 28
Chapter
Four: Data Presentation, Analysis
and Interpretation 30
4.1 Introduction 30
4.2 Data Presentation and Analysis 31
4.3 Test of Hypothesis 45
Chapter
Five: Summary of Findings,
Conclusion
and Recommendations 56
5.1 Introduction 56
5.2 Summary of Findings 56
5.3 Conclusion 58
5.4 Recommendations 59
References 62
Appendix 63
Questionnaire 64
CHAPTER ONE
INTRODUCTION
1.1
Background to the Study
If
you ask four (4) different people who invented the Automated Teller Machine
(ATM) there is a good chance that you may receive four different answers. Four
(4) or more individual, have actually claim to have invented the Automated
Teller Machine (ATM). Including “Don Wetzel, George Simjian, John Shepherd.
Barron and John D. White”. No matter who invented the Automated Teller Machine
(ATM), no one can dispute the impact it has had on our society. An Automated
Teller Machine (ATM), by the way is a machine that allows you to do banking
transaction, from a remote computer operated terminal.
Prior to the invention of ATM, people had to visit a bank or other financial
institution to do their banking. It was not uncommon to see a line of 40 to 50
people waiting outside the bank on a Monday morning waiting for it to open.
While
some banks still have this type of activity. The Automated Teller Machine (ATM)
has decreas ed the need to wait in line and has helped many people perform
their transactions in a fraction of the time it once took.
When
you visit an Automated Teller Machine (ATM) you are able to perform almost
every transaction that you can inside the bank. You can deposit and withdraw
money, transfer money between account access a home equity line of credit,
purchase stamps and deposit a check. We will probably always have human
tellers, but Automated Teller Machine (ATM) have provided a certain amount of
convenience designed to accommodate customers.
In
2004 there were more than 370,000 Automated Teller Machine (ATM) in the United State.
You can find them in grocery store, Airport terminal, convenience stores,
gambling Casinos, Movie theatres, shopping malls, gas station and many more
locations.
This
allows you to do your banking whenever you want.
The
Automated Teller Machine (ATM) has become another mechanism that banks use to
make money. If you go to an Automated Teller Machine (ATM) that is not your own
bank, you will be charged a fee of Nl00, but it all depends on the bank. Most
people would like to use their own bank but if one is not available they are
willing to pay the fee to gain access to their money Banks makes millions of
Naira in fees also if a customer does not record their Automated Teller Machine
(ATM) transactions they could over draft their account which lead to more fees.
At
this junction, is good to know what Automated Teller Machine (ATM) is all
about.
According
to investor words.com: Define Automated Teller Machine (ATM) as a machine at a
bank branch or other location which enables a customer to perform basic banking
activities (checking one’s balance, with drawing or transferring finds) even
when the bank is closed. Automated Teller Machine (ATM) is also use to provide
the convenient withdrawal service in everywhere, even if users don’t come to a
bank.
According
to Edet, O. (2008), Automated Teller Machine (ATM) means (Advice To Men) in the
sense that you don’t have to worry the weekend because Automated Teller Machine
is meant to serve us 24/7.
According
to Abubakar Aleghe Isah, Accounting Department HND Final 2013: Automated Teller
Machine (ATM) is a cash machine made available by
banks to service individual 24/7 without network interruption or any
difficulties in carrying out individuals transaction.
1.2 Statement of Problem
The
problem of the project is as follow: Each bank provides, its own computer to
maintain its own accounts and process transactions against them with this
system, a client must first open an account before he/she can use Automated
Teller Machine (ATM).
The
opening account involves the client providing his personal information. A
client may open one or more accounts for deposit account. The client can check
the account status 24 hours a day. When the client deposit/withdraw money. The
client must specify which account and the amount. The Automated Teller Machine
(ATM) communicates with a central computer which clears transaction with the
appropriate banks. An Automated Teller Machine (ATM) accepts a cash card, interacts
with the user, communicates with the central system to carry out the
transaction, dispenses cash, and prints receipts. The system requires
appropriate record keeping and security provisions.
The
system must handle concurrent accesses to the same account correctly. The bank
will provide their own software for their own computer.
1.3
Research Questions
In
order to get information from respondents. The following questions were raised;
a. To what extent can Automated Teller Machine
(ATM) improve or enhance banking services?
b.
What are the major problems associated
with the development of Automated Teller Machine (ATM)?
c.
To what extent has Automated Teller
Machine (ATM) affected banking activities?
d. Is Automated Teller Machine prone to any fraud?
e.
Is the Automated Teller Machine (ATM)
a welcome development to all bank depositors?
1.4
Objectives of the Study
This
research work intends to assess the extent of Automated Teller Machine (ATM)
payment in banking activities as well as identify the various types of
Automated Teller Machine (ATM) banking.
The
researcher will also evaluate the major problems associated with the
development of Automated Teller Machine (ATM) banking system in Nigeria as well
as evaluating possible solutions to these problems.
The
effect of Automated Teller Machine (ATM) banking on profitability of banks will
also be assessed.
To
examine the different types of Automated Teller Machine (ATM) used In Nigeria
banks.
The
researcher will like to evaluate the impact of these e-payment systems on
banking industry and also assess the impact of Automated Teller Machine (ATM)
banking in Nigeria
economy.
1.5 Statement of Hypothesis
Ho: Automated Teller Machine (ATM) does not improve
or enhance banking service
HI:
Automated Teller Machine (ATM) improve or enhance banking service
Ho: Automated Teller Machine (ATM) system is not
prone to any fraud.
HI: Automated Teller
Machine (ATM) system is prone to some fraud.
Ho: The Automated Teller Machine (ATM) is not a
welcome development to all bank depositors.
HI: The
Automated Teller Machine (ATM) is a welcome development to all bank depositors.
1.6 Significance of the Study
Automated Teller Machine (ATM) banking
in our economy today is a welcome development and also its impact in the
society are over whelming, so this research is significant in so many ways.
It will expose the strength and weakness
of Automated Teller Machine (ATM) banking. It will motive banks and other
economy agent to computerize their services.
Knowledge in the area of Automated
Teller Machine (ATM) banking will be advanced. Apart from contributing to the
knowledge of Automated Teller Machine (ATM) banking, it forms a reference for
future research in this area.
1.7 Scope of the Study
This research is on economic implication
of Automated Teller Machine (ATM) banking in Nigeria banks and also the various
form of payment an Automated Teller Machine (ATM) system used by banks.
The researcher will base this work on
the entire deposit money banks in Nigeria but to First Bank in
particular.
1.8 Limitations of Study
Time is a major factor to the researcher
as research of this kind requires enough time in gathering of data, but it was
not given to carry out the research, distribution, collection and analysis of questionnaires.
Also the school system has made it
difficult for student to go out in search for information by not granting. exert
for student.
Finally, finance was in fact the most
limited factor in spite of this the researcher have to go to the street to
interviewed most of the student, workers and the jobless in individuals using Automated
Teller Machine (ATM).
1.9 Definition
of Terms
Automated Teller
Machine (ATM): This is defined as a machine at a bank
branch or other location which enables a customer to perform basic banking
activities (checking one’s balance, with drawing or transferring finds) even
when the bank is closed.
Payment System:
This defined as a system which consists of net works which link members, the
switches for routing message, rules and procedures for the use of its
infrastructure.
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