2. STUDY OF EXISTING SYSTEM & ITS LIMITATION

The basic functions in a bank includes opening a new account, modifying or closing of an existing account, recording all kind of transactions, and generating daily and periodic reports of them. These function when handle manually, may consume a good amount of time and may create a large number of human errors. Hence we need a system that automates all these jobs.

The basic problems that this existing system is facing as follows:-

• Handling a large number of requests to open new accounts, to modify account details, and to close an account is a time consuming task in existing system.
• Managing hundreds of records in various ledgers and files is cumbersome for bank staff.
• Difficulty in conducting thousands of transactions like withdrawing, depositing and transferring of funds by a limited number of bank staff, often results with increase in chances of errors in recording of transaction.

All these problems required a new system that would automates entries of clients information and recording of all client transactions.