An Appraisal Of Transfer And Cash Management In Deposit Money Banks

Project and Seminar Topics with material for Banking and Finance BF

Project and Seminar Topics with material for Banking and Finance BF


The An appraisal of fund transfer and cash management in deposit money banks (a case study of Fidelity bank and Access banks ) .the researcher reviewed the faculties such s electronics fund transfer and cash management in the banking industry to enhance delivery of banking servicers in a cost-effective manner is always a welcome development. As this will bring about more effective banking services to customers.

In chapter one, the research deals with introduction, background of the study, statement of the problem, objective of the study, limitation of the study, scope of the study and definition of terms.

Chapter two contains , literature review , introduction, history of banking industry , development in the deposit money banking industry in Nigeria, cash management , electronic banking (e-banking) , evidence of bank, performance before and after ICT.

Chapter three talks about research design and methodology , methods of dat collection , population and sample size, sample techniques , validity and reliability of measuring instrument and method of data analysis.
Chapter four is the presentation and analysis of data and also its interpretation of result.

Finally, the last chapter five deals with the summary of findings, occlusion and recommendations of the research project.

Table Of Content

Preliminary Page(s)

  • Title page
  • Approval page
  • Dedication
  • Acknowledgement
  • Abstract
  • Table of content

Chapter One

1.0 Introduction

  • 1.1 background of the Ground
  • 1.2 Statement of the Problem
  • 1.3 Objective of the study
  • 1.4 Research questions
  • 1.5 Significance of the study
  • 1.6 Scope of the study
  • 1.7 Limitation of the study
  • 1.8 Definition of terms

Chapter Two

2.0 Literature Review

  • 2.1 Introduction
  • 2.2 History of banking industry in Nigeria
  • 2.3 Development in the deposit money banking industry in Nigeria.
  • 2.4 Cash management in Nigerians banks
  • 2.5 Electronic banking (E-banking) and cash management in Nigeria.
  • 2.6 Electronic fund transfers (EFT) and cash management in Access bank and Fidelity bank.
  • 2.7 Challenges facing electronic fund transfer and cash management in Aces bank and fidelity bank.
  • 2.8 E- banking and bank performance at fidelity bank and access bank.

Chapter Three

3.0 Research Design and Methodology

  • 3.1 Introduction
  • 3.2 Research design
  • 3.3 Sources/ method of data collection
  • 3.4 Population and sample size
  • 3.5 Sample techniques
  • 3.6 Validity and reliability of measuring instrument
  • 3.7 Method of data analysis

Chapter Four

4.0 Presentation and Analysis of Data

  • 4.1 Introduction
  • 4.2 Presentation of data
  • 4.3 Analysis of data
  • 4.4 Interpretation of results

Chapter Five

5.0 Summary, Conclusion and Recommendations

  • 5.1 Introduction
  • 5.2 Summary of findings
  • 5.3 Conclusion
  • 5.4 Recommendations
  • Bibliography
  • appendix

Chapter One

1.0 Introduction

1.1 Background Of The Study

Although the business of bank is basically about service delivery. Consequently , the introduction of facilities such as electronic fund transfer (EFT) and cash management in the banking industry to enhance the delivery of banking services in a cost of effective manner is always or welcome development.

This is what information technology offers with increasing competition in the market place and service models of delivery for banking product issue; on not only in retaining customers loyalty but maintaining and growing our all profitability.

Electronic fund transfer provide, the platform to achieve both anywhere in the world. Though the introduction of electronic fund transfer is barely a decade old, the fragility of our present legal framework to accommodate the myriad of complex situation and problem arising from the integration of electronic fund transfer and cash management into delivery of banking service is fast becoming apparent.

In this paper, we will focus on the particular issue that arise from the adoption of electronic fund transfer and cash management business primarily through a legal perspective.

Cells cash management refers to the planning, organizing controlling of corporate fund with the view of achieving organizational goals and objectives. It involves the ability of the company or an individuals to arrange holding of cash balances in a way that excess holding and storage of cash are minimized. Cash management also entails controlling investment in fixed assets including interest income in any idle fund. There motives behind cash management have remained the reason for the introduction and innovation in electronic fund transfer (EFT)

1.2 Statement Of Problems

Nigerian deposit money banks in recent years have designed series of products towards effective mobilization of fund need for industrial growth and development of the country. The fund need to be effectively managed to meet borrowed demand for short term loans and overdraft. It must be noted that factors outside the organics actions control (exogenous) like recession and political environment and variables have posed greater problems to the banks in their question to effectively manage their cash via the electronic fund transfer. Among the ideal problems in the research work include unreliable and inadequate communication facilities .in the country , fund in banks, inadequate rural banking facilities and non linking of the online time services in all banks, high capital requirements of the project.

1.3 Objectives Of The Study

This project work on electronic fund transfer and cash management in banks is aided at identifying and revealing the usefulness of electronic fund transfer and cash management in deposit money banks.

It will also highlight the benefits , risks and problems inherent in the use of electronic fund transfer in cash management. This study will also x-ray the roles.

Functions and products / services rendered by deposit money banks to their esteemed customers. Recommendation will be made to the deposit money banks to effectively enhance cash management via the EFT.

1.4 Research Questions

  1. How do bank access fund transfer.
  2. What are the effects or impact of electronic fund transfer?
  3. What kind of relationship exist between electronic fund transfer and cash management in banks.
  4. How does electronic fund transfer contribute to the overall cash management.
  5. How do expenses as it relates to cash management affects the profitability of deposit money banks.

1.5 Significance Of The Study

The role of deposit money banks in the economic development of a nation can not be over emphasized as they play a major role in the economic life of a country by providing individuals, corporates bodies and government with opportunities for saving and procuring funds needed to set in, attain and accomplish their goals and objectives using the electronic fud transfer in the management of cash.

In view of the position sated above, this will be of great benefit to individuals wishing to do business with bank customer, corporate bodies , and the government .

The study is also expected to provide the banks with an assessment of the journey so far in the use of EFT and cash management . it is equally hoped that this work will aid the management of banks in decision making as it affects electronic based products and services. To the student, this product will serve as a reference guide upon which further research be based on.

1.6 Scope Of The Study

Deposit money banks were established at different times in Nigeria and indifferent parts of the country principally to accept deposits and advance credit to its customers. All their aim is at enhancing and promoting economic development in the country.

The research work is conducted on selected branches of two deposit money banks in owerr, Imo state; fidelity bank and acess bank . an issue on transfer and cash management in particular on electronic banking in general is our target.

1.7 Limitation S Of The Study

A research work of this nature can not be successfully carried out without encountering obvious constrain and difficulties which if not handled very well can unpair the quality and dept of the work. Among constraining factors is the branch banking system in Nigeria whereby useful information can mainly be obtained from head offices of the banks.

Unfortunately, most head offices are outside the state, including fidelity and Access Banks.

The bankers responsibility to mention anything to an outsider concerning customers accounts and others affairs reduces the volume, scope and quality of this work considerably . due to this fact, lower level management found it extremely difficult to give information to the researcher even when such information is readily available at their disposal.

There are also financial time and human constraint due to the fact that the researcher had to finance this project on her own purse and the much needed travels and movement to collect data were restricted due to high cost of transportation , mores, time frame was not in favour of the researcher as she had to share time between her normal class lectures and her research work.

1.8 Definition Of Terms

Below are some of the definition of terms concepts used in this project work;

1. Automated Teller Machine (ATM):

This is an electronic device used in banks to provide cash and perform other banking service, on the insertion of a special individual and by the account holder.

2. Automated Clearing House (ACH):

This is an efficient electronic payment system designed to collect and disperse payments in a predictable convenient manner. It can be used for credit transaction such as collection of invoice payment or recurring donations.

3. Branch Banking:

This is a single banking institution that offers full banking services in two or more offices commonly referred to as branch offices. It is established in two ways (1) De novo i.e bank branch developed from scratch and (2) by Merger i.e one bank takes over another bank and operates it as a branch.

4. Computer System:

This is an electronic database or programmable device which give on line database and stores and process data on a high speed for accurate and precise information.

5. Cash Concentration System:

This can be said to be a collection system used to accelerate the flow of funds and truncate all paper at the depository by transferring the funds accounting information electronically.

6. Data Message And Retrieval System (DMRS):

This is a personal computer accessed information system that provides organization units a next day information on deposit made through the feedwire.

7. Electronic Fund Transfer (EFT):

This is a system used to transfer funds electronically. i.e the use of computers magnetic tapes , atms and telephones in lien of issuing paper cheques. These systems include all , Feedwire systems, feedline payment systems.

8. E-Banking (Electronic Banking):

This involves the use of computer in dispensing cash and transfer funds. EFT and AIM are example of E-banking . it was introduced in the british banking sector in the late 1960s came into Nigeria in November 1990.

9. Home Link:

this is a product that allows bank customers to transact banking business at home. The bank customer must have a T.V set at home, then the bank will provide a home Dck console through which the customer carries out his transactions.

10. Market Strategy:

This is the banks stance in seeking after new ideas, technologies , products and services and developing them to suit their customers needs and derive. Example is the fidelity early achievers account for children.

11. PASS CARD: This produce is an electronic fund product which is reported to have been pioneered by carefour of france “Pass” is processed in an IBM machine either by debiting a customers banks account or by taking credit from the store.

12. Point of Sale (POS):

This is a system of electronic fund transfer which enables a customers account to be debited instantly with the cost of purchase in an outlet or supermarket. The system requires the customer to be an ATM card holder.

13. Online Banking:

This is one of the cheapest delivery channels for banking products. Such services save the time and money of the bank with an added benefit of minimizing the likelihood of commiting errors by bank tellers.

14. Recipient:

This is an individual  organization , unit of the government , business entity or a combination of these that is designated to receive goods and services.

15. Scan Check Remote Deposit:

This allows the individuals to deposit cheques electronically into their account without leaving their office or home.

16. Society For World Wide Financial Telecommunication:

SWIFT is an electronic bank product which allows member banks in Nigeria to transmit financial messages globally within seconds while also receiving a sport information .

17. Truncation:

This is the process of capturing data contained on a paper cheque electronically . the information is then sent through the cheqing system.

18. Transfer Agent:

This is an agent usually a hank that is appointed by a corporation to keep records of the stock and bond owners and to resolve problems about certificates.

19. Transmit:

This is the channel through which an information or data is sent from one person or place to another.

20. Western Union Money Transfer:

This is the money transfer operated by Fidelity bank as one of the agents that allows their scheme in their system.

21. Profitability:

This is the ability of the bank to make a maximum returns to satisfy the interest of the customers.

Chapter Five

5.0 Summary , Conclusion And Recommendations

5.1 Summary

This project work has X-ray the roles , functions , products and services rendered by deposit money banks to their esteemed customers. The study sees deposit money banks as life wire of any nations economy , that provides individuals, corporate bodies and government with the opportunities for savings and procurement of funds needed to set, attain and accomplish their objectives using the electronic fund transfer in managing their cash.
Again, due to the cash and carry nature of the Nigeria economy, good credit is only available from the banks and their banking business to the bank that is willing to grant or offer them credit facilities without stringent terms and conditions.

5.2 Conclusion

The expectation of the government and people of this great country in the banking sector are enormous as we continue in the 21st century . computers and telecommunications have become the most essential tools for efficient and lasting effective operation of the world over their responsibility of ensuring successful computerized program for all staff top management must therefore ensure that policies on information technology are approved and enforced. This is to say that full commitment and support of top management are essential to encourage use of electronic fund transfer (EFT) departments to work together in best interest in the bank.

The banking industry cannot reside in an island of incompetence, indeed their place is therefore in for technological innovation banking. It is a good thing that banks now offer cash management services based on electronic fund transfer 9EFT) systems, this level of awareness today is great and is hoped that they will encourage bank to pool resources together and set upon inter money transfer on transaction involving different banks in different cities.

The central bank of Nigeria (CBN) has however played an important role in the development of electronic fund transfer system because today on the pronouncement and policies introduced recently by the CBN. Electronic system of banking enables institution to develop business relation with a greater range of customers. The time available for credit risk and other decision has been shortened by the efficiency of the bank electronic settlement system.

5.3 Recommendations

it is obvious from the scope covered in this project work . that there is vast improvement in cash management through electronic banking services provided by some banks in the country. Considering the delay that arises from man and telegraphic transfers and the cheques clearing system. They compare it with the instantaneous transfer of funds offered through electronic fund transfer (EFT), the result shows that there has been a tremendous improvement but there is still room for further improvement.

A company collects its receivable from a customer. Immediately the customer remits it to the bank irrespective of the part of the country the customer remits it from the transferring of funds to and from beneficiaries on the same day without attracting additional pay, is a welcome development on the part of todays computerized bank via the electronic fund transfer services which is strongly recommended to be used to full advantage.

Again, there is need for basic policies and law to be enacted in other to help regulate the environment in which electronic fund transfer (EFT) operates.

In the course of this stud , it was noted that not all banks have embraced electronic banking are not fully computerized as such cannot enjoy full advantages of electronic banking. In view of the above, the central bank of Nigeria (CBN) should mandate all the bank to become fully computerized before stipulated period of time. This will enhance inter and intra transfer of funds within the economy.

Banks should improve on their public relations. This is intended to build goodwill and image within and outside the environment, gain favour and also maintain cordial relations with the customer and the general public at large. This will enable the public appreciate the impact of electronic Fund transfer (EFT) and as such embrace it. Also , public confidence is the anchor and corners tone on which banking is built, if it breaks down , the whole edifice of banking collapses.

The central bank of Nigeria (CBN) Should also introduce measures and regulation that will guide the activities of the deposit money banks with respect to EFT.

This work could not have covered every thin as regard this, for instance while this work was nearing it completion saw another product through first inland bank (FIB) , the product is named “ flash me cash “ this is a package or product whereby you will be using your GSM telephone to operate your account and your account number. There is need for more research on this topic, so this project work will serve as a reference guide upon which further research can be based upon.

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