1.1 Introduction
A banking system refers to the network of institutions that provide financial services such as accepting deposits, giving loans, and managing money for individuals and organizations (Mishkin & Eakins, 2018). In the modern context, a Computerized Information Technology Based Banking System is defined as an automated solution that utilizes computer software and hardware to carry out core banking functions efficiently, securely, and in real time (Laudon & Laudon, 2020).
Similarly, according to Ajayi & Ojo (2006), a computerized information technology based banking system is an automated system that integrates various banking activities such as account management, deposits, withdrawals, funds transfer, and loan processing through the use of computer technologies (Ajayi & Ojo, 2006). The implementation of such systems allows banks to meet increasing customer expectations, and remain competitive in a dynamic financial environment.
As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Limitation of the study and Definition of technical terms.
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