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Table of Contents

Pages
Introduction 2
The concept oI Banking and Finance career, training and
manpower development 4
The need Ior Banking and Finance workers as induced by
modern technology 5
The characteristics, changes and challenges in the modern
Banking and Finance Environment 6
SpeciIic Areas oI Changes in the OIIice 7














ntroduction
Banking Iinance deIinition gives us inIormation about the deIinition oI banking
and the deIinition oI Iinance. Banking reIers to that process in which a bank which
is a commercial or government institution oIIers Iinancial services that include
lending money, collection oI deposits, issue oI currencies and debit cards, and
transaction processing etc. The majority oI banks works as proIit-seeking
enterprises, however, a Iew government banks work as non-proIit organizations.
Central banks Iunction as government agencies and they regulate the interest rates
and circulation oI money in the total economy.

The activities oI banks can usually be categorized into the Iollowing types
O #eceiving deposits Irom the customers and issue oI current or checking accounts
and savings accounts to businesses and individuals
O !roviding Iinancial consultation services to individuals and businesses
O !roviding loans to businesses and individuals
O Encashment oI checks
O Facilitation oI monetary transactions, Ior example cashier`s checks and wire
transIers
O Issue oI ATM cards, credit cards, and debit cards
O OIIering saIe deposit vaults Ior keeping valuables
O Encashment and distribution oI bank rolls
O #etirement & pension planning
Banks can be widely categorized into two types which are;
#etail banks: These include
O Commercial banks
O !ostal savings banks
O !rivate banks
O Community banks
O Community development banks
O Savings banks
O Building societies
O OIIshore banks

#etail banking directly deals with small businesses and individuals, commercial
banking, corporate banking services to important commercial organizations, and
oIIering services to mid-market businesses.
nvestment banks: The investment banks Iunction as underwriters oI stock and
bond issues and also provide a number oI related services. Examples oI investment
banks are merchant banks and venture capital Iirms. As a whole, investment
banking deals with capital markets.
The Iinancial transactions oI a bank are carried out through a number oI measures:
O Through branches
O Through ATMs (automated teller machine)
O Telephone banking
O Online banking
O Through mail services
Finance deals with eIIicient allocation and distribution oI resources by
commercial entities, individuals, as well as other establishments over time taking
into consideration the associated risks.
The term called Iinance can include any oI the Iollowing areas:
O The process oI managing money
O The study oI money and other types oI assets
O Managing and controlling those assets
O IdentiIying and handling project risks
II the term Iinance is used as a verb, it denotes provision oI Iunds Ior
individuals Ior buying cars or houses and businesses.
The Iunction oI Iinance is to apply a group oI techniques which the
corporate entities and individuals implement Ior managing their Iinancial activities,
speciIically the margin oI income and expenditure as well as investment risks.
Finance can be widely categorized into the Iollowing types:
O !ersonal Iinance
O Business Iinance

O !ublic Iinance
The major sources oI Iinancing include:
O Savings
O oan or credit
O Taxes
O onations
O Subsidies
O rants
i. The concept of Banking and Finance career, Training and Manpower
Development
The period 1892-1952, there was an inquiry by the colonial administration to
investigate the banking practice in Nigeria. In 1948, the inquiry under the
leadership oI . !aton was established by the colonial administration purposely
to investigate banking practices in Nigeria. !rior to the inquiry, the banking
industry was largely uncontrolled. The . !aton report, an oIIshoot oI the inquiry
became the Conner stone oI the Iirst banking legislation in the country. The
banking ordinance oI 1952.The ordinance was designed to prevent non viable
banks Irom much rooming and to ensure orderly commercial banking.

a. Career
The concept oI the banking and Iinance career is that which is highly demanding
with the inIlux oI modern technology into the system, it has given would be
workers in banking and Iinance sector a run Ior their knowledge as they are
expected to be Iamiliar with the new trend and modern development in the sector
or they will be grossly unemployable.
b. Training and Manpower Development
Training and Manpower development is the process that helps organisations to
provide adequate human resources to achieve their current and Iuture
organisational objectives. Manpower Training is the most strategic oI all human
resource management Iunctions. Training deIines the sources, number and types oI
manpower needed to meet Iuture work requirements. !redetermined strategies to

attract and retain the best people are also laid down. Strategic development and
utilization oI employees` capabilities, which yield best beneIits to the company, are
designed into the plan. As it is known that trainning is an analytical process
involving various aspects, so as to produce quality products and to oIIer best
services, various plan exercises such as determination oI desired goals, assessment
oI the Iuture in relation to the environmental changes, selection oI activities,
preparation oI written plan document, etc. will have to be done, which will give
rise to mobilisation oI human resources. The result oI Manpower Training is
marvellous. This will be reIlected in higher turnover, lower absenteeism, Iewer
breakdowns, lower migration and more than anything else, higher quality oI
work.wer migration and more than anything else, higher quality oI work.

ii. The need for Banking and Finance Workers as induced by Modern
Technology
Banking and Finance workers are induced by many varying modern technology by
the provision oI this modern implements which makes banking and Iinance
activities a lot easier. Apart Irom this provisions, periodical training or updating oI
workers on the types and new inventions that aid banking and Iinance also induce
workers to be pro active in their dealings. Some oI the likely trainings that are
given to banking and Iinance workers are as listed bellow as it pertains to the
diIIerent working cadre in the banking and Iinance industry.

a. Senior Management Program in Banking


The Senior Management !rogram in Banking addresses the current radical changes
in the Iinance industry and how to respond to them. The !rogram provides senior
Iinance industry executives with an integrated view oI the industry, discussing
modern concepts and their practical application, while subjecting both to critical
review.

b. Advanced Executive Program
The Advanced Executive !rogram aims to help senior executives Irom Iinancial
and related sectors to strengthen their management competence, to broaden their
Iactual knowledge and to promote critical integrated thinking with respect to the

current dramatic trends in the Iinancial industry.



c. Executive Program
The Executive !rogram combines solid knowledge and skills in management with
practical know-how and insight into the Iunctioning oI the Iinancial sector.
!articipants are taught how to interpret their own responsibilities as part oI the
Iinancial system, and how these are to be handled in line with modern thinking.

d. Financial Asset Management and Engineering Program (FAME)
The FAME !rogram provides a unique experience in learning the modern practices
oI asset management and Iinancial engineering. !ractitioners are challenged to
apply advanced thinking to investing in real world situations.
e. Management #etreat
International !rivate Banking & Wealth Management #etreat The #etreat is an
exclusive international platIorm Ior senior executives in private banking and
wealth management. It helps to understand the strategic, organizational and
personal challenges in the turbulent environment oI modern private banking, to
become Iamiliar with best practices oI leading institutions, and to build an
international network oI peers.
iii. The Characteristics, Changes and Challenges in the Modern Banking and
Finance Environments.
In Nigeria, our traditional payment model was the 'brick and motar system, which
was the same as expansion oI bank branch networks necessitated by compulsory appearance
oI consumers in the banks to consummate transactions. This system was riddled with a
number oI challenges, chieI among which were insecurity, inconveniences, high cost oI
transaction, inability to access real time inIormation, cumbersomeness and high business
risk. Today, Nigerian banking industry has signiIicantly inIluenced by evaluation oI new
technology, the growing applications oI computerized network to banking industries reduced
the cost oI transaction and increase the speed oI services sustainability. The nature oI
Iinancial intermediaries made banks improve their production technology by Iocusing on
destination oI products. In other words, the evolution oI banking technology has been mainly
driven by change in distribution channels as we evidence Irom Over the Counter (OTC),
Automated teller machines (ATM), !hone Banking (!B), !ersonal Computer Banking (!C-
Banking) and must recently Internet Banking (IB). However, it seems natural to consider
progress in Nigerian banking technology as a reason Ior market consumer given the nature oI

network in the banking sector. This bring about the spreading oI (ATM) across the country
while an increasing number oI branches are being linked by sophisticated computer based
systems.
One might remember the days when he/she physically went to the bank to deposit or
withdraw, transIer and even to get a bank statement book manually updated by a teller.
Today, internet banking (IB) Irees both the bankers and customers oI the need Ior proprietary
soItware to carry on with their online banking transaction.
Today, the study oI banking industry in Nigeria has change Ior good. Industry
watchers and analysts are happy with technological innovations and creativity brought into
the dynamics oI banking operation in last Iew years. Such services are;

1) Electronic Banking: this involves banking with either your own computer or with an
Automated teller machines (ATMs).

2) !ersonal computer banking (!C-Banking): !C-Banking is the services rendered by the
banks to enable customers at home or their oIIices access their account Ior transaction by
dialing into the banks internet proprietary soItware system with the help oI password.

3) Automated teller machines (ATMs): the most visible Iorm oI electronic Iund transIer in
relation to Nigerian banking sector w the introduction oI Automated teller machines
(ATMs). The ATMs released banks Irom the constraints oI time and geographical location;
they presented banks with more economical substitutes Ior brick and motar branches.
In Iact, ATMs are generally connected to bank computers by private lines, the branches are
being linked by sophisticated computer based-systems, drastically cutting down transaction
time and cost.

iv. Specific Areas of Changes in the Office
Saving Department: Saving department deals with paying and receiving oI cash to
and Irom customers respectively. Computer help this department in viewing the customer
interest with the use oI their account number.
Current Department: This department deals with paying and receiving oI cheques
Irom organization or customers respectively. With the help oI computer the time consumed
in perIorming this operation reduced.
Account Department: computer has immensely aided this department in recording
the asset and liabilities oI the bank which was considered as the income and revenue

obtained Irom daily returns. Through computer an accountant can check any department and
also there is more access to it by customer`s ledger card method.
Marketing Department: in this department computer reduces the stress imposed on
the public relations oIIicers.
Credit Department: with the help oI computer there is no need to start looking Ior
record oI loans and advances rendered to any customer, with the help oI the customer
account number an update can be made accordingly as customer make his payment and the
balance is displayed on the screen.
Clearing Department: this department use the computer n clearing oI cheques with
much ease, and having the customer account number displayed immediately the number is
coded in; the cheque is cleared in less time.
Administrative Department: checking and record keeping oI banking activities are
made very easy with the use oI computer by having Iull and comprehensive inIormation
about the bank. This lead to easy administration oI its personal activities within the bank.
Computer epartment: All transaction obtained Ior the day are recorded in this
department, easy activities going on the other department have to be transIerred to the
computer department, which stand as the central unit Ior the bank Ior any record purposes.

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