TABLE OF CONTENTS

CONTENTS
CERTIFICATION
DEDICATION
ACKNOWLEDGEMENTS
ABSTRACT
TABLE OF CONTENT

CHAPTER ONE: INTRODUCTION

1.0 INTRODUCTION
1.1 STATEMENT OF THE PROBLEM
1.2 AIM AND OBJECTIVES OF THE STUDY
1.3 SIGNIFICANCE OF STUDY
1.4 SCOPE OF THE STUDY
1.5 DEFINITION OF TERMS

CHAPTER TWO: LITERATURE REVIEW

2.1 BACKGROUND THEORY OF STUDY
2.2 HISTORICAL BACKGROUND OF ONLINE FUNDS TRANSFER SYSTEM
2.2.1 EVOLUTION OF ONLINE FUNDS TRANSFER SYSTEM
2.3 CHALLENGES OF ONLINE FUNDS TRANSFER SYSTEMS
2.3.1 SECURITY
2.4 REVIEW OF RELATED WORKS
2.4.1 PAYPAL

2.4.2 QUICKTELLER

2.5 MODULE OF AN ONLINE FUNDS TRANSFER SYSTEM

2.6 JOURNAL REVIEWS

CHAPTER THREE: SYSTEM INVESTIGATION AND ANALYSIS
3.1 SYSTEM ANALYSIS
3.2 PROJECT OBJECTIVES
3.3 DESIGN METHODOLOGIES
3.3.1 PROS AND CONS OF THW WATERFALL DEVELOPMENT MODEL
3.4 ANALYSIS OF PROPOSED SYSTEM
3.5 USER REQUIREMENT
3.6 SYSTEM REQUIREMENTS
3.7 SYSTEM DESIGN PHASE
3.7.1 DESIGN MODELS
3.7.2 USE CASE DIAGRAM
3.8 DATABASE DESIGN
3.8.1 DESCRIPTION OF DATABASE TABLES
3.9 DEVELOPMENT TOOLS
3.9.1 PROGRAMMING LANGUAGES
3.9.1.1 HTML(HYPERTEXT MARKUP LANGUAGE)
3.9.1.2 JAVASCRIPT
3.9.1.3 CASCADING STYLE SHEETS
3.9.1.4 VISUAL STUDIO CODE
3.10 WEB DEVELOPMENT ENVIRONMENT TO BE USED
3.10.1 XAMP SERVER PACKAGES

CHAPTER FOUR: SYSTEM DEVELOPMENT AND IMPLEMENTATION

4.1 SYSTEM DESIGN
4.2 OUTPUT DESIGN
4.3 INPUT DESIGN
 CHAPTER ONE

1.0 INTRODUCTION

Sending or receiving money for either payment of services, settlement of business transactions,
payment of utility bills, or family support is common both for businesses and individuals because
there will always be a need to transfer money from one user to another. It requires efficient,
reliable, and affordable money transfer services whereby money can be deposited in one location
and withdrawn in another in both urban and rural areas.

Thousands of banks perform millions of monetary and funds transactions every day and
thousands of users follow almost the same banking system. The number of users increases more
banks and more staff are needed, which means more money has to be put into this system. If an
advanced computerized-based banking system is developed, there will be no need to open new
branches in remote areas or the same branch to provide services to other banking systems
example ATM system.

Online Funds Transfer (OFT) is a system of transferring money from one bank account directly
to another without any paper money changing hands but rather on the internet or electronic
means.

A banking system needs to be legitimate and valid. If a system has this fundamental logic, we ma
y create a new system that verifies the user's identity and allows them to conduct any kind of virt
ual or financial transaction at any time, any place, in the shortest period. One of the most
authentic codes for recognition of any person is a signature. It always appears on almost all types
of documents, such as property documents, bank cheques, and credit slips, thus signature has
great importance in our daily life, therefore automatic signature verification is important in the
field of document analysis and processing for which a lot of work has been done in the past.
Online funds transaction system allows customers of financial institutions to conduct financial
transactions on a secure website operated by the institution, which can be a retail or virtual book,
credit union, or building society. To access a financial institution's online banking facility; a
customer having personal internet access must register with the institution for the services, and
set up some password (under various names) for customer verification.
Financial institutions now routinely assign customers numbers (also under other names),
regardless of the user's intention to use the online financial transaction system. Since several
account numbers might be linked to a single customer number, customer numbers, and account
numbers are typically not the same. The customer and the customer number will link.

To access online banking, the customer would go to the financial institution's website, and enter
the online banking facility using the customer number and password. Some financial institutions
have set up additional security steps for access, but there is no consistency in the approach
adopted. Net banking offers an inexpensive alternative to banking to expand a bank's customer
base and many banks are using online banking to increase the quality of services to their
customers. Many banks have opened websites on the internet and many plan to offer banking
services over the internet.

1.1 STATEMENT OF PROBLEM

This research work is carried out to design or rather computerize the online evolution system for
monetary transactions, the expected computerized system aimed at the ending of this work after
a critical study made up of problems, needs, requirements, and specifications of Wema Bank, the
polytechnic Ibadan campus.

1.2 AIM AND OBJECTIVES OF THE STUDY

This study to a large extent will influence the existing system of operation. A critical analysis of
the present method will be made and factors affecting it will also be determined. All activities
carried out by the entire department are tailored towards the proper functioning of the monetary
transaction system. In other words, the proposed system to be arrived at as the output of the
study will among others aid in the following:

1. Optimize User Interface for Ease of Use

2. Provide Detailed Transaction History

3. Facilitate Efficient Fund Transfers

The objective of this work design an Online Funds Transfer System (OFTS) to compare the
advantages of the old bank transfer system or payment system with the new system and
contribute to financial inclusion initiatives by providing access to funds transfer services for
individuals who may not have access to traditional banking services.

1.3 SIGNIFICANCE OF THE STUDY

This research project would be unnecessary if it had no significance to humanity. Firstly, the
newly designed system would allow customers to check their account balance anywhere they are
by the use of an internet connection. Secondly, the knowledge that the new system has been
designed would help customers to create fixed/recurring deposits bank. Thirdly, the new system
would also aid customers to transfer funds to other accounts of the same Fourthly, the design of
the system would provide jobs for system analysts and programmers contracted to build the
system for other banks. Finally, the research work would serve as a reference material for other
scholars interested in further research on the Net banking system.

1.4 SCOPE OF THE STUDY

This research project is restricted to an online evolution system for monetary transactions using
Wema Bank as a case study. Data used for the study which include the opening of Account,
Deposit of the funds, withdrawal of funds, and transfer were gathered from this source. The
Internet provides a secure medium for transferring funds electronically between bank accounts,
and also for making banking transactions over the Internet. All banking activities that were
conventionally carried out by visiting the bank can now be done through a computer with
Internet access. Credit card transactions are a form of online transaction. With online monetary
transactions, you cannot only view your account balance but also open Fixed Deposits, transfer
funds, pay your electricity telephone, or mobile phone bills, and much more.

1.5 DEFINITION OF TERMS

1. Net - Banking: This refers to several ways in which customers can access their bank
without having to be physically present in the banking environment.
2. Bank: This is an institution offering certain financial services, such as the safe-keeping of
money, conversion of domestic into and from foreign currencies, lending of money at
interest, and acceptance of bills of exchange.
3. Implementation: This is the building of systems and installation to ensure that it solves a
particular task.
4. Cheque: This is a bill of exchange drawn on a bank by the holder of a current accounting
payable into a bank account, if crossed or on demand, if uncrossed.
5. Deposit: This is a process whereby money or valuable things are placed in a bank or
similar institution for safekeeping based on pre-defined interest.
6. Cash: This is a banknote or coins, for example, in-hand or readily available; money or
ready money.