THE EFFECT OF COMPUTERIZATION ON THE GROWTH, VIABILITY AND PROFITABILITY OF FIRST BANK PLC.
The main purpose of this project is to study the effect of this project on the growth, viability and profitability of First Bank Plc. To achieve this objective successfully.
The researcher has to take into consideration the meaning of computer as an electronic devices.
The researcher also has to consider the misconceptions about computer. It is seen as a tools of estimation of the amount of work involved and hindrance to computer application ion first bank Plc.
The effect of computerization, growth liability and profitability in First Bank can be said to bring reduction in administrative cost and staff level and introduction of disciplinary measures which has led to increase in efficiency.
The conclusion reached was that certain problems are encountered by First bank in computerization.
Then some useful recommendation that could solve the problems of computerization on the growth, viability and profitability in First bank Plc.
1.0 introduction 1
Reference 14
Review of related literature 15
2.1 What is computer? 20
2.2 Types of computer 21
2.3 Need for computer 23
Research design and methodology 25
Reference 30
Bibliography 37
1.0 INTRODUCTION
1.01 HISTORY
Since creation, there has been quest by man to improve on the quality of his life and existence. This ever-increasing quest has been necessitated and propelled by the simple need to address the challenges posed by his environment. Borne out of this need, a number of inventions have been made in virtually every field of human endeavour. The computer is one of the most spectacular of such invention. It is a fool specially made for computation.
The development of computer can be traced back to over 5000 years ago when Chinese invented the ‘Abacus’, and the pathgros system of culmination early Egyptian civilization. There after various oother computation were develop. These ranged from manual devices such as the slide rule to purely mechanical device and in most recent time electronic machines. The electronic computer was developed in 19th century.
Today, the computer is prevailing in its effect and use. In combination with telecommunication devices, the computer is functionally reducing the world to a global electronic village in which space is no longer a barrier to the exchange of data and information when computer first came to existence the vast majority of people including educated ones knew little about it. It ease a mysterious tool to many, those who do not take time to find out how it works continue to regard it as a supernatural tool handed to man from above.
Computer has found application in virtually all field of human endeavour including Art, business, Education, Engineering, Medicine, science and in banking sector. Where I have taken a key study on effect of computerization in its operations.
The computer has taken a greater role in financial institution today especially in first Bank of Nigeria Plc.
The first bank of Nigeria Plc which was established since 100 years age, have undergoes some metamorphosis in the system of operation records of the money it received and paid to customer, have been improve into a computerized system.
The system of data collection has been improved through the system of E.F.T networking, E-net work and world wide used information
Today, the first Bank Plc proudly the most effective bank in the country in data information and banking operation.
Although the effect of computerization in firt bank plc can be said to brought reduction in administrative cost and staff level and introduction of positive discipline which has let to increase in efficiency.
Moreover, First bank owned the biggest Assets in the financial institution making its liability very profitable.
We tend to ascribe human qualities to computer because they display these qualities more than any other machine. They also manage to give impression that, they put their minds to it.
Research estimated that as many as one third of information workers among professionals and financial managers one “cyberphobes” who resent computer, they mistrust the computer especially when they are told they have to use it in their work.
Another source of problem among the aged worker, is that their unfamiliarity with computer has turned them into the “New illiterate”. They hesitate to take training in computer use because they may be embarrassed to reveal how little they know. Not only do they not know how to work with it, they do not know to it works and a certain social stigma has become attached to not being able to chat easily about bits, bytes and boot programmes.
Although the source of public power supply (NEPA) is improving in its out put generation. The occasional interruption of power supply in the country has been a problem to the operation of computer in first Bank Plc. As a result, computer system are run on generating set with it fuelling problem.
The inadequate tele communication system, unreliable networking system and lack of information, has reduced the productive use of computer in the banking sector. The result of this has been to embark on physical transfer of data from branch to branch, since the remote processing facilities of the computer cannot be put into use especially the lack of infrastructure of local/international Area networking in remote areas.
The computerization of first bank should be seen as necessary tool because of it positive effect on the viability and profitability on its services.
There new electronic technology from the computer with its increasing capabilities through vastly more powerful systems for the storage access analysis and dissemination of information around the world in seconds rather than week is binging about revolution in the commercial banking sector.
The computer system, aside from being used as a network system by way of linking branches to each other to enable quick and prompt services. Also introduce their clients into the use of credit card. This is geared at transaction through creation of credits in the economy. The recent promulgation by the central Bank of Nigeria, makes computer inevitable in Nigeria banks. The Central Bank of Nigeria banks requires bank to resort to “MICR”, a magnetic into character recognition which basically has to do with the face of the cheque, that is the bookshop issued to imprint words and numbers to help machines dictates it from tapes.
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