This project work is concerned with the use of the Internet in banking operations, a case study of the All State Trust Bank Plc Enugu.
The Internet in acts over evolving state is becoming a serious method of business communication and data transfer worldwide. As such banks and other financial institutions are beginning to use the Internet as new vehicle for doing business. The Internet allows banks to offer both new services and level of convenience for existing services and allowing the consumers and customers to interact from any computer capable of making appropriate connections.
The technological developments have made most banks and other financial institutions to be more responsive to change and it is imperative to adopt the latest technology in order to maintain operational efficiency as a means of warding off competitive threat, to increase speed of transaction, improvement of customer’s convenience by reducing barriers to entry into payment systems and retail banking.
The greatest innovation that has taken place in the twenties century is in the realm of information technology. This is currently made possible by the introduction of the digital computers, which has been observed in the field of communication to be increasingly inseparable from communication to be increasingly from communication. This linkages often referred to as convergence is risen driven by technology and amplified by business trends the technology and business, foster growth in network systems that use communication links to connect subsidiary system (nodes) which may send, receive, direct and redirect information to, fro, sender and receiver.
Taking of the Internet a couple of years ago would have sound link a fair table but today the Internet is pervasive in almost every field of human endeavor changing the fundamentals of how are conduct national as well as international businesses. Few years of existence, the internet has shown that it can sliver the long sought after goal of electronic commerce.
It is worth noting that companies in developed countries world – wide have recognized the business potential of the internet and are getting connected to the network of networks in their million.
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