DEVELOPMENT OF SECURITY CONTROL SMART CARD USED IN BANKING SECTOR

Abstract

Banking services have elevated from the traditional method to transaction (or the one aided by technology to the one that can be done from the comfort of one's convenience from home).This has given rise to system integration toward ATM networks implementation in Nigeria that e-banking, e-shopping etc. The infrastructure such as good Telecommunication, been internet service etc. has achieved greater penetration and raising the level of awareness among the banking public that they do not necessarily or physically need to internet with the teller in his bank for him to achieved his cash needs. It is a paramount thing to note by every bank would not only promote further development and growth of ATM industry but also enhance electronic commence in Nigeria. Development of security control smart card used in banking sector deals with the use of ATM which is used for withdrawing money from the cash machinery. Objectives of this research centers on how to develop workable software program that will automatically help to reduce the high risk of fraud, insecurity and queues experience in various financial institutions most especially in the banking sector. The Automated Teller Machine (ATM) network tile was invented to facilitate the different problems such as Forgetting of password, Scratching of the microprocessor, Malfunction of the system and Network failure. The financial in1stitutions especially the Nigeria banks own the decades experienced different kinds of operational problems in the use of manual/traditional systems of banking occurring to the massive increase of banking, provide in the number of customer and day-to-day challenges banks encountered. It has become impossible for, most Nigerian banks and other financial institutions to meet with the demand associated on the modern banking system.Hence, the need for effective, faster and more efficient means of operation was developed to ease the heavy task of labour and stress which the old system encountered in the previous year. The manual system has in the past increased high level of insecurity and fraud in the banking sector and other financial bodies in Nigeria.