Banking Management System

Problem Statement A bank encompasses several branches and each branch further has many customers who hold one or more accounts in that branch. Bank offers five types of deposit accounts namely Savings, Current, fixed deposit, joint, minor. Any person who holds an account has either of these accounts. Any person if wants to become a new customer to the bank also has to choose among these types. New customer to the bank can either open an individual account, a joint account or a minor account (in case the applicant is under 18 years of age) as per his/her wish. Every Savings Bank Account whether minor/joint or individual has very basic features of cash deposit and cash withdrawal. There is no restriction on the number and the amount of deposits, however a mandatory uniquely identified PAN number is required for doing cash transactions exceeding Rs.49,999. The bank pays an interest annually on the savings lying in the savings bank account. It also provides the facility of fund transfer through which the money from one customer’s account is transferred to other account. The money transfer can be done within the same bank or with the account holder of any different bank however, transferring money to another bank’s account holder charges some minor penalty. Current Bank Account is another type of bank account having its own distinct features that are managed differently. It is mainly opened by businessmen to carry out their business deals promptly and smoothly. No restrictions are made on the number and the amount of withdrawals as long as the account holder has funds in his/her account. Bank pays no interest on the funds kept in the current account. In fixed deposit bank accounts, whole deposit is made at once and it lasts for 15 days to 10 years with high rates of interests. No withdrawals are allowed however, the bank allows the customer to close the account before maturity in the case of emergency but with a certain deduction in rate of interest. The fixed deposit can be renewed after its maturity. All these bank details and records can’t be managed manually. Therefore, a need for software is realized that can manage all the details at both customer and bank authorities’ side. The main aim of the software is to automate all the functioning of bank both at the customer's and bank authorities’ side. Thus, Banking Management System is introduced to resolve this issue. Two views will be managed having their own different functioning; one for the customer and other one for the bank authorities. Among the bank authorities, different persons will manage data and records for different bank related works with each person having a different view of the bank database. For each work, the bank has different manager who has access only to the details that are related to his section of work. The bank manager has all the details and has access to all the data and records managed by different section managers. For every cash deposit and cash withdrawal made by the customer holding savings bank account, the bank authority respective to this section will update the bank database and the customer’s account database by entering all the transaction details(customer name, account number, phone number, deposited/withdrawal amount and PAN number in case of transaction is of more than Rs. 49,999 ). All these type of bank transactions details are updated in bank database both for the customer and bank authorities and can be found in the “Account Details” section of the database for that particular account. All the details related to the transaction are automatically updated to the bank’s database with the help of the account number. For fixed deposit account, the bank offers a rate of interest on every fixed deposit made by the customer and that rate of interest varies accordingly with the time period for which FD is made. If the fixed deposit account is opened from the main account balance, the amount is deducted from the bank balance and new fixed deposit account is opened for every fixed deposit made by the customer. The details of amount deduction is updated in “account details” section of database of particular account, and the FD details are updated in “FIXED DEPOSIT” section of bank database by the bank authority seeking this section by giving all the details of customer and fixed deposit request made by that customer. Also the software will enable the bank authorities to update/modify customer details or information relates to customer account whenever any customer requests for the same. The customer has to fill KYC form of the bank along with all the ID proofs and other related documents to provide the bank with all his details if he wants to make modifications, bank authorities will then verify the documents and update the desirable changes to the “customer’s details” section of the bank database. 1 Introduction 1.1 Purpose The main purpose of this software is to simplify the tedious task of bankingby providing this service in a user friendly environment. It also aims at increasing the efficiency and reducing the drawbacks of existing manual banking process, thus making it more convenient for the customers to do banking as when they require. This project is supported by a well designed DBMS in which customers account information is integrated together. A friendly UI is also provided so that the requests made by the user give correct results by accessing the information stored in the database. 1.2 Scope This software allows the users to apply for new account and to update the previous account. It gives them the facility to deposit money in the account or withdrawl money from the account.It also give the facility to apply for loan. 1.3 Definitions  BMS – Banking Management system  UI - User Interface  DBMS – Database Management System 1.4 Overview The rest of the document deals with all the main features of this software. It not only describes various functions but also gives details about how these functions are related to each other. Apart from the data flow diagrams, the document also contains cost estimates for developing this system. Various risks associated with the system have also been mentioned along with the ways to mitigate them. The timeline chart describing how the entire project was scheduled has been attached followed by the architectural design of the software. At the end a pseudo code for the customer management module” has been provided. A flow graph has been generated corresponding to this module, cyclomatic complexity has been computed and test cases that were used to test the system have also been mentioned. 1.5 Process Model We choose Waterfall model because of the following reasons:  It is relatively simple and easier to understand approach as compared to other models.  The requirements are well stated and understood before in hand.  In this model we have to complete one stage before proceeding to next. So ,we have clearly defined stages and well understood milestones.  The advancement in program does not need to be checked upon by the customer during the process. So this model does not create problem.  The requirements are fixed and work can proceed to completion in a linear manner.  The Waterfall Model provides a structured approach. 2 Software Requirement Specification 2.1 Overall Description 2.1.1Product perspective The manual banking system suffers from the following drawbacks: The existing system involves a lot of paper work and manual calculation. This has lead to inconsistency and inaccuracy in the maintenance of data.  The data, which is stored on the paper only, may be lost, stolen or destroyed due to natural calamity like fire and water.  The existing system is sluggish and time-consuming causing inconvenience to customers and the banking staff.  Since the number of customers have drastically increased therefore maintaining and retrieving detailed record of customer is extremely difficult.  A bank has many branches in the country, an absence of a link between these branches lead to lack of coordination and communication. Hence the banking management system is proposed with the following Product perspective:  The computerization of the banking system will reduce a lot of paperwork and hence the load on the bank administrative staff.  The machine performs all calculations. Hence chances of error are nil.  The customer, balance details can easily be retrieved and any required addition, deletion or updation can be performed.  The system provides for user-ID validation, hence unauthorized access is prevented. 2.1.2 Product functions The “BMS” software is an independent web based application. There are various user interfaces related with this software. These interfaces help the user to interact with the software and provide the necessary information for online ticket reservation. The entire functionality of this software can be subdivided into fields/modules. The names of the fields involved in the banking management system are 1. CUSTOMER MANAGEMENT 2. LOAN SYSTEM 3. TRANSACTION SYSTEM •MODULE 1: CUSTOMER MANAGEMENT Using this module, the user first provide his details like his name, father name, address, phone no., email etc. and can open a new account or can update an existing account. •MODULE 2: LOAN SYSTEM This module is for customer to apply for loan by providing required documents and details like time period of loan, amount of loan and get the detailed description of EMIs. • MODULE 3: TRANSACTION SYSTEM This module allows the customers to deposit and withdrawl money from their account using some private info like signature, OTP. Various interfaces involved in BMS have been designed and implemented using C++. All the information about customer is maintained in C++ files which act as databases for the software. 2.1.3 User characteristics  The user of the system should be comfortable working with English language.  The user must have a basic knowledge of computers and internet. 2.1.4 General Constraints  The database of the software is not accessible to every user of the software. Making changes in the database requires permissions that have been given to certain specific individuals. 2.1.5 Assumptions and Dependencies  The BMS is assumed to be compatible with the computer systems on which it has been loaded for customer use. 2.2.6 Data Dictionary The data dictionary, or Meta data repository, as defined in the IBM Dictionary of Computing, is a "centralized repository of information about data such as meaning, relationships to other data, origin, usage, and format." The term may have one of several closely related meanings pertaining to databases and database management systems (DBMS). A document describing a database or collection of databases; an integral component of a database management systems (DBMS) that is required to determine its structure; and a piece of middleware that extends or supplants the native data dictionary of a database management systems(DBMS). Our banking system dictionary can be of the following type. Data Description Documents Account documents | Loan documents Details Account details | Loan details Account documents ID Proof + Residence Proof + Date of Birth Proof Loan documents ID Proof + Residence Proof + Birth Proof + Salary slip + PAN Card + Loan application Account details Name + Address + Phone Number + Account number + Signature Loan details Loan time period + Loan amount + Loan type Name First name + Middle name + Last name Address House No. + Village name + State name + PIN code Phone number Digit+Digit+Digit+Digit+Digit+Digit+Digit+Digit+Digit+Digit Account number Digit+Digit+Digit+Digit+Digit+Digit Deposit Reciept Date of deposit + Amount deposited Response Approval | Rejection Loan Reminder Reminder message + Last date to pay EMI 3 Project Management 3.1 Cost Estimations 3.1.1 Functional Point Estimation S.NO QUESTIONS GRADE VALUE 1 Does the system require reliable backup and recovery? 5 2 Are specialized data communications required to transfer information to or from the application? 3 3 Are there distributed processing functions? 3 4 Is performance critical? 0 5 Will the system run in an existing, heavily utilized operational environment? 5 6 Does the system require on-line data entry? 5 7 Does the on-line data entry require the input transaction to be built over multiple screens or operations? 5 8 Are the ILFs updated online? 5 9 Are the inputs, outputs, files, or inquiries complex? 2 10 Is the internal processing complex? 2 11 Is the code designed to be reusable? 3 12 Are conversions and installations included in the design? 0 13 Is the system designed for multiple installations in different organizations? 5 14 Is the application design to facilitate change and for ease of use by the user? 5 VALUE ADJUSTMENT FACTORS, Σfi= 48 INFORMATION DOMAIN VALUE EST. COUNT 1. EXTERNAL INPUT WEIGHING FACTOR 4 4 2. EXTERNAL OUTPUT WEIGHING COUNT 4 16 5 20 3. EXTERNAL INQUIRIES 1 4 4 4. NUMBER OF LOGICAL FILES 1 10 10 5. EXTERNAL INTERFACE FILES 0 TOTAL COMPUTING FUNCTION POINTS: FP = COUNT TOTAL * (0.65 + 0.01 * Σfi) = 50 * (0.65+ 0.01 * 48) = 56.50 7 50 0 3.1.2 Efforts The average productivity for this kind of system =6.5 FP/pm Considering the labour rate=$8000 Cost per FP = $1230 Total efforts = FP (calculated) / average productivity = 56.50 /6.5 = 8.69 person months Total cost for the project = Total efforts * labour rate = 8.69 * 8000 = $ 69,520 3.2 Risk Table Risks Category Probability Impact Mitigation Quality not maintained DE 60% 3 Take up steps to maintain quality at each stage of development. Size estimates may be low PS 50% 2 Past experiences must be considered and a similar task on a smaller scale may be attempted Requirements not properly documented and understood CU 50% 1 Regular interaction with the customer and getting the requirements verified before finalising them Delivery deadline will be tightened BU 40% 2 Review the progress from time to time and take appropriate steps to keep up with the schedule Lack of skill ST 40% 2 External resources might help Building the wrong product CU 20% 1 Early and continuous validation is critically important. You need to establish a clear vision and solid justification for the product. 1-Catastrophic 2-Critical 3-Marginal 4-Negligible PD-Process Definition ST-Staff-size and experience DE-Development Environment CU-Customer Characteristics BU-Business Impact PS-Product Size 4.2 Data Design OPEN ACCOUNT DETAILS FIRST NAME VARCHAR(15) MIDDLE NAME VARCHAR(15) LAST NAME VARCHAR(15) HOUSE NUMBER VARCHAR(4) VILLAGE VARCHAR(15) STATE VARCHAR(15) PIN VARCHAR(10) PHONE NUMBER VARCHAR(10) INITIAL AMOUNT INT UPDATE ACCOUNT DETAILS FIRST NAME VARCHAR(15) MIDDLE NAME VARCHAR(15) LAST NAME VARCHAR(15) HOUSE NUMBER VARCHAR(4) VILLAGE VARCHAR(15) STATE VARCHAR(15) PIN VARCHAR(10) PHONE NUMBER VARCHAR(10) ACCOUNT NUMBER INT LOAN DETAILS TYPE VARCHAR(30) AMOUNT INT DURATION INT ACCOUNT NUMBER INT DEPOSIT RECIEPT ACCOUNT NUMBER INT AMOUNT INT DATE DATE