18-08-2012, 03:41 PM
ONLINE BANKING SYSTEM including core banking
ONLINE BANKING SYSTEM including core banking.docx (Size: 496.02 KB / Downloads: 41)
INRODUCTION
The Online Banking System (OBM) web application is intended to provide complete solutions for customers using the internet as the sole medium. It will enable customers to browse through the bank account and access them online without having to visit the bank physically. The administration module will enable a system administrator to approve and reject requests for new registration & loan application and maintain various lists of information relating the transactions as well as employees details.
This document is meant to highlight the features of OBM, so as to serve as a guide to developers on one hand
and a software validation document for the prospective client on the other.
PURPOSE OF THE STUDY
The aim of this project is to develop a secured online banking system with the following objectives:
• Create a banking system that is easily accessible by customers from the comfort of their homes,
offices etc as well as by employees according to their privileges.
• Reduce the flow of human traffic and long queues at banks Reduce the time wasted in going to banks to stay on queues.
Promote efficient and effective banking by focusing on those services that still require physical presence at the banking hall.
IMPORTANCE OF THE STUDY
This will cover the benefits derived in using internet banking and it’s fundamental.
ONLINE BANKING – HOW IS IT DIFFERENT?
Many consumers today are turning to the ease and convenience of Internet banking to take care of their financial needs. With the new levels of access made possible by the Internet, people can now check the status of their finances with the click of a button. The historyof Internet banking has evolved from simply allowing customers to check balances online, now being able to trade stocks and bonds from the comfort of their own home!
WHY USE ONLINE BANKING?
Online banking services have grown from simply allowing customers to check balances, to trading assets. Today many banks are functioning entirely online, with no brick and mortal building. With the costs saved by requiring fewer employees and the lack of time, these virtual banks can often offer higher interest rates than their traditional counterparts. Internet banking gives you the power to control your finances completely. You are no longer tied down to managing your money during the hours the bank is open. If you want to transfer a balance after business hours you can! If you have access to the Internet and have a number of recurring monthly bills, then you should use Internet banking to make your life easier.
SCOPE OF THE STUDY
The scope of this project is limited to the activities of the operations unit ofthe banking system which include opening of Account, Deposit of funds, Withdrawal of funds and transfer as well as maintaining security .
Online banking system will replace old paper work system, to save time and reduce number of employee. It provides a relational database containing a list of account holders, fund transfer, and account details which makes the system flexible.
METHODOLOGY
This project employs the object oriented approach of software engineering using appropriate (UML TOOLS) an object oriented approach. Some of the steps to be taken are:
• Feasibility study – understanding and identifying of existing system a
nd associated study.
• Analysis – proper analysis and suggested solution to tack
le such problems will be considered.
• Design – designing the new system will be
achieved through an object oriented software tools (UML).
• Coding – this is implemented as a 3tier architecture model using java language. The 3 layers of theapplication are as follows.
1, Java server pages / html pages – front end
2, Java server pages / servlets – middle end
3, SQL server as the back-end
MODE OF OPERATION
will contain self explanatory hyperlinks thatcustomers can click to make any request or perform a task.
If a customer clicks on transfer amount links, he is taken to page where he fills a form and clicks the submit button if he is through. A successful filling of the form gives a response that confirms the transfer of funds..
The system is secured such you cannot operate another mans account even if you knew his account details because a new transaction number is always sent to a customer for each login. This transaction number is what will be used to authenticate any transaction per time.