AUTOMATED FOREIGN EXCHANGE TRANSACTION IN BANKS (CASE STUDY OF FIRST BANK NIGERIA PLC)

Abstract

In most banking and financial institutions, customers desire is an efficient service form those institutions. Some of the factors that influenced effective services are the behavioral attitude of some banks executives and most importantly the manually oriented or semi - automated approach that they employ in processing their data. This project aims at increasing the effectiveness and efficiency of services in banks such as in the areas of foreign exchange transaction. Implementing those operations, which are broken down into smaller components and can be managed independently, but interlinked programs that share common data file. The proposed system an Automated Foreign Exchange Transaction will produce information on status of the organization instantaneously when called upon for a quick decision - making. The computer, because of its various advantages and characteristics such as high processing speed, high degree of accuracy, storage facilities, automation quick accessibility, and so on will be efficient in providing such a real - time services.