Design and Implementation of Online Bank Verification Number System Using Linear Conruential Algorithm

‎LITERATURE REVIEW ‎Introduction ‎A vibrant banking industry in any country is pivotal to achieving economic growth ‎development through efficient financial services as they provide a mechanical system ‎to group savings and convert them into investment. Thus, a bank serves as an ‎intermediary between savers or depositors and borrowers (Olanipekun, et al, 2023). This ‎is why the government establishes bank regulating bodies like Central Bank of Nigeria ‎(CBN). These regulating bodies from time to time reform the sector to meet the current ‎economic standard. ‎Financial reforms and attendant policy prescriptions are age-long phenomena. ‎They represent the various transformation and policy adjustments and overhaul that are ‎directed at the art, practice, and activities of financial institutions and markets overtime ‎in response to the nominal need for operation improvement and growth of both the ‎institutions and the general economy. (Iganiga, 2020). ‎According to Obadeyi (2014) financial reforms is a possible change made to a ‎household, system, firm, government, economies etc. in order to perform and operates ‎in a more effective and efficient way within the context of stipulated regulatory policies. ‎The reform of financial markets and banks remain a persistent force in the growth and ‎development of financial sector in developed economies, developing economies and ‎emerging markets (Nigeria inclusive). The reform of the financial sector could easily be ‎traced to banks’ competitive actions, assisted with continuous rise in government ‎regulations over the soundness of banks’ strong financial positions. ‎These reforms in banking sector have creating room for advancement in ‎technology which gives birth to e-banking sector. ‎The banking industry no doubt has witnessed advancement in technology just ‎like any other sector; the adoption of e-banking is one of these as it affects banking ‎operations entirely. With the adoption of Self Service Technology by the banks, ebanking system has continued to service the populace, e-banking is one of them ‎(Adewoye, 2023). ‎E-banking was adopted by banks so as to improve their service delivery, ‎decongest queues in the banking hall, enable customers withdraw cash 24/7, aid international payment and remittance, track personal banking transaction, request for ‎online statement, even transfer deposit to a third party account (Ogunlowore & Oladele, ‎2024). ‎According to Okoro (2024) quoted Omotayo (2021) which define electronic ‎banking as a system in which funds are moved between accounts using computerized ‎online or real time system without the use of written cheques. Okoro (2024) define ebanking to include the provision of retail and small value banking products and services ‎through electronic channels as well as large value electronic payments and other whole ‎sale banking services delivered electronically. ‎To prove this e-banking payment system the need for biometric tool was created ‎to verification bodies and password of individuals. Adewale etal (2024) biometrics as ‎categorized can be from physical body regions, medico-chemical body features or ‎be hvioural traits, defining high (for individuals) to low (for group) levels of distinction. ‎Examples of biometrics from body regions include the occurs hand (fingerprint, ‎palm print, finger knuckle print, hand geometry, hand veins) and facial (face, ear shape, ‎teeth); medico-chemical body features include body odor, DNA and heart sound; while ‎behavioural trait include voice, gait, signature. ‎A biometric recognition system is a pattern recognition system recognition ‎system that acquires biometric data from an individual, extracts a feature set from the ‎acquired data, and compares this feature set with the template set in the database to ‎decide whether to accept (genuine) or reject (impostor) the individual. ‎However, the e-banking and biometric has created a room for more problems. It ‎is one of the reasons why many people now have many account numbers which they ‎use to carry out different financial fraud that has affect the economy growth of Nigeria. ‎To handle this issues the Central Bank of Nigeria created a policy called bank verification number BVN ‎