Conceptual Model for E-Banking System using Indigenous Biometric Technique

Abstract

The Central Bank of Nigeria (CBN) recently introduced the cash-lite banking, thereby bringing about the cashless economy policy. The major reason is to limit the flow of physical cash in the country. This has made many banks to encourage their customers in making use of e-banking services. However, poor education background of many Nigerians, system efficiency, reliability and security are the major challenges facing this move in Nigeria. These systems need to be highly efficient, secure and easy to use for all Nigerian. This is because to achieve the cashless economy in Nigeria, everybody must be carry along (both those that have poor education background and can still read and write with their native language). Thus in this paper, we have developed a model suitable for implementing indigenous e-banking system in Nigeria. When this system is fully implemented, it will help to encourage more people to make use of e-banking services thereby upholding the cashless economy policy Nigeria.