Faculty of Information Technology
Jilani Thomas Mwangolo
TABLE OF CONTENTS
1.1. Background Information3
1.2. Research Problem3
1.3.1 Project Objectives4
1.3.2 System Objectives4
1.4. Significance of the Study5
2. LITERATURE REVIEW6
2.1. Online Banking6
2.2. History of Online Banking6
2.3. General Statistics7
1.1. Background Information
Jumuia Bank is a renowned bank in Kenya which has over 46 branches nationwide in Kenya. Its headquarters is located in Nairobi in Hurlingham, Lenana Road, Jumuia house, third floor. In each province, there at least 5 branches, so its network is quite large and well spread. As at the close of 2008, Jumuia Bank had a staff establishment of 2,000 employees. Started in 2006, the financial institution has been certified by the Central Bank of Kenya (CBK), and it provides quite a number of services, inclusive of: Banking services
Small Micro Enterprise services
Issuance of bankers cheques
Insurance services(Latest Implementation)
Foreign Exchange services
ATM services, etc
1.2. Research Problem
Over the recent years, Jumuia Bank has grown to be a well known and respected financial institution, having spread its wings nationwide from a figure of 3 million registered customers in 2007 to a figure of 6.9 million in 2009, quite a rapid growth. The number is so big and after research on the company, and most financial institutions, I realized that the company could actually double this number of clientele by implementing an online account registration. The system is not only meant to widen the number of targeted customers, but to enhance bank activities with relation to services provided to the customers.
1.3.1 Project Objectives
The projects main objectives include:
Assess the relevant business solutions to the problems stated within Jumuia Bank. This enables me as the researcher to know the relevant answer, or rather solution to the problems at hand. Develop a functional user friendly website interface and secure connection to Jumuia’s main system database such that once users key in their data and submit, the information is stored in a central server. Develop a comprehensive documentation that will be used as a guide in future system developments and maintenance. This assisted in further improvements and correction of the system. 1.3.2 System Objectives
Ensure that users can be able to open their accounts in a convenient and secure manner at a convenient time anytime, anywhere as long as they are connected to the internet. Allow for users to check their transaction and account details conveniently; again, anytime anywhere. Implement time-saving and convenience. Rather than manually collect bio data from potential customers and having to feed the data to their database at a later time. Ease the process of data entry for the employees.
Alleviate customer account opening system within the bank.
1.4. Significance of the Study
The main significance of this study is to better the initial most common service banks offer to their customers-account opening, taking in context the case example of Jumuia Bank. In as much as most banks aim to have the majority of customers in the country, most banks in Kenya do this in different forms-manual and automated, e.g. advertising, business fares, exhibitions, corporate activities, mobile services, but there is one lacking thing they do not do; rather, they do not do conveniently- the initial step, which is account registration. All account registration is done in a way where potential customers actually have to go to a bank physically to open an account with the relevant bank, or where there are business fares and the banks’ stands have to convince customers...