Student Online Banking Problem Statement

Student Online Banking Problem Statement 1student

Technological advancement has reduced activities of many businesses into global by means of internet applications. Web application systems have been built to support synchronous activities carried out in an enterprise. In the current world, people are transacting their businesses across the globe without the need of visiting the premise by simply connecting to the enterprise through web applications facilitated by the internet (Jayawardhena & Foley, 2000). This kind of technology is widely spelled in banking industries where an individual cash, withdraw, view statement, borrow a loan and repay loans.

A typical example of online banking is Student Online Banking System. Although the student online banking system has brought significant advantages to students and schools, the following are the segment of the problems associated with it. The general problem is that it is not possible for all students in the university to possess electronic devices such as phones and computers. Students in many universities are from low-income communities thus making them to not get access to luxuries. They opt to sacrifice in acquiring basic needs such as food, shelter, and clothing at the expense of phones and computers.

Because online banking entails employment of such electronic devices that have good access to the internet, utilization of student online banking by students is paralyzed. The specific problem is that students experience difficulties in deciding which device (that is mobile phones or laptops) to be used in accessing the e-banking environment. The type of device used in accessing e-banking environment is challenging as indicated that both students and designers face challenges in the transactions. Roughly 22.6 % of the student population in a university own computers and this means that few students will access online banking by use of computers Wei, Li, Cao, Ou & Chen, 2013). The general problem is that the company networks (i.e. bank and leaning institution) that are built to support the online banking may not be optimum to fully support the transactions.

Student online banking system is intertwined between two systems, i.e. the bank system and finance system of the institution of learning. The effective operation of the online student banking relies on the optimality of network infrastructure on the two systems. There are millions of transactions taking place in bank systems in a given limited time which requires an internet of high bandwidth. Many at times networks in the banks fall down and thus the transactions become slow leading to waste of time to students. On the other hand The specific problem is that many universities do limit their network bandwidth to an extent that it may not fully support the student online banking system.

Students use the internet for accessing real-time online products such as videos, music, and movies through online channels such as YouTube thus consuming a large amount of Universities' internet bandwidth. This is typical reason ads to why universities limit the strength of the internet which on the contrary affects the performance the student online banking. The general problem is that the student online banking system favors few groups of students endowed with computer skills. University is a community that offers many courses ranging from business across information technology, law, education, and many other courses. The system is somehow biased in that the students from programs such as law, business, and education may not be well conversant with the operation of the system as their scope of learning is far from technology.

Moreover, students from programs that do have an association with information technology bother less in acquiring computers and phones which are the fundamental tools when using student online banking and this limit them in assessing the system. The specific problem is that syllabus in learning institutions focus on core units leaving behind the disciplines associated with information technology. Many students from none IT-related courses have limited knowledge in computer applications and this hinders them in utilizing the online banking. In addition to this, the number of students in none information technology courses does not have computers that they will use in interfacing with the student online banking system.

The learning institution is facing a challenge in revising the syllabus to suit the application of computers in order to help the learners to understand the functionality of the online banking system.

Paper For Above instruction

The rapid advancement of technology has transformed many sectors globally, with online banking being a prominent example of this digital revolution. The Student Online Banking System embodies this change, aiming to streamline financial transactions for students via internet-accessible platforms. Despite its benefits, significant challenges hinder its effective implementation and usage across university campuses. This paper explores these issues, focusing on accessibility, technological infrastructure, and digital literacy disparities among students, to propose viable solutions that align with the evolving digital landscape.

One of the fundamental issues with the Student Online Banking System relates to accessibility. The system presumes that students possess personal electronic devices such as smartphones or laptops, which can connect to the internet. However, a substantial proportion of university students originate from low-income backgrounds, limiting their access to such technological tools. For instance, Wei et al. (2013) report that only approximately 22.6% of students own computers. This digital divide restricts the utilization of online banking services, creating inequality in access to financial functionalities integral to student life. Therefore, addressing this disparity is crucial to enhancing inclusivity and ensuring that financial services do not exacerbate social inequalities within the academic community.

Another critical challenge pertains to the technological infrastructure supporting the system. Online banking relies heavily on robust network bandwidth in both banks and educational institutions. Financial transactions involve high volumes of data transferred within brief periods, demanding high-speed, reliable internet connectivity. However, networks frequently experience downtimes or slowdowns, impairing transaction efficiency. Universities often deliberately limit bandwidth to accommodate other online activities such as streaming videos and social media, which consume significant bandwidth resources (Jayawardhena & Foley, 2000). This bandwidth throttling inevitably hampers the performance of student online banking systems, leading to delays and potential transaction failures that frustrate users and undermine trust in digital banking services.

Furthermore, digital literacy remains a significant barrier for many students, especially those enrolled in non-IT-related disciplines such as law, education, or humanities. Such students may lack the necessary skills or familiarity with digital platforms, which diminishes their ability to navigate online banking interfaces effectively. This gap is aggravated by the curriculum structure within learning institutions, which predominantly emphasizes core disciplinary subjects while often neglecting necessary computer literacy and digital skills development. As Wei et al. (2013) highlight, students from disciplines less associated with technology tend to have limited computer application knowledge, hindering their engagement with online financial services.

To address these multidimensional issues, educational institutions need to reconsider their curricula to include comprehensive digital literacy components. Providing affordable or institution-sponsored devices to students from low-income backgrounds could bridge the access gap. Additionally, banks and universities should collaborate to enhance network infrastructure, expanding bandwidth capacity to support both academic and transactional online activities without compromising performance. Implementing universally accessible platforms with user-friendly interfaces tailored to diverse user needs will further promote inclusivity and usage efficiency. Ultimately, these measures aim to foster an equitable digital environment where all students can benefit from online banking services securely and conveniently, aligning with broader societal shifts towards digital financial inclusion (O'Reilly & Parker, 2013).

References

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