Develop an SRS for ‘Online Banking System’. Make necessary assumptions. Follow IEEE SRS format
Software Requirements Specification (SRS)
Online Banking System
1. Introduction
1.1 Purpose
The purpose of this document is to specify the functional and non-functional requirements for the development of an Online Banking System. This system will enable users to access their bank accounts, perform transactions, and manage account-related tasks online securely.
1.2 Scope
The Online Banking System is a web-based application designed to provide customers with secure, efficient, and convenient access to their bank accounts. The system supports functionalities such as account balance inquiries, fund transfers, bill payments, loan applications, and transaction history reviews. The primary stakeholders are bank customers, administrators, and support staff.
1.3 Definitions, Acronyms, and Abbreviations
Customer: An individual who holds an account with the bank.
Administrator: Bank staff responsible for managing and maintaining the system.
Transaction: A financial operation such as fund transfer or bill payment.
SRS: Software Requirements Specification.
HTTPS: HyperText Transfer Protocol Secure.
1.4 References
IEEE Standard 830-1998: Recommended Practice for Software Requirements Specifications.
Bank Regulatory Guidelines for Digital Banking Services.
IGNOU BCA Course Material.
1.5 Overview
The document outlines the system functionalities, performance requirements, constraints, and assumptions. It is intended for developers, testers, project managers, and stakeholders.
2. Overall Description
2.1 Product Perspective
The Online Banking System is a self-contained, web-based application that integrates with the bank’s existing database and third-party APIs for services like bill payments. The system aims to improve customer satisfaction and reduce the workload on bank branches.
2.2 Product Features
User Authentication: Secure login and multi-factor authentication.
Account Management: View account balances and transaction history.
Funds Transfer: Transfer money within the bank or to other banks.
Bill Payment: Pay utility bills online.
Loan Application: Apply for and track loans.
Notifications: Receive email and SMS notifications for transactions.
Admin Dashboard: Monitor system activity and manage customer issues.
2.3 User Classes and Characteristics
Bank Customers: Regular users who access their accounts online.
Administrators: Responsible for system maintenance and customer support.
Technical Support Staff: Manage technical issues and software updates.
2.4 Operating Environment
Platform: Web-based, compatible with modern browsers (e.g., Chrome, Firefox, Edge).
Operating System: Cross-platform (Windows, macOS, Linux).
Server Requirements: Apache/Nginx with support for HTTPS.
Database: MySQL/PostgreSQL.
2.5 Constraints
The system must comply with regulatory standards for online banking.
Transactions should not exceed a predefined maximum limit per day.
The system must ensure 99.9% uptime.
2.6 Assumptions and Dependencies
Users have a stable internet connection.
The bank’s core banking software provides reliable APIs for integration.
3. Specific Requirements
3.1 Functional Requirements
User Registration and Login:
Users can register by providing account details and a valid email ID.
The system supports secure login with multi-factor authentication.
Account Overview:
Users can view account balances and recent transactions.
Funds Transfer:
Transfer funds to own or third-party accounts.
Verify recipient details before processing the transfer.
Bill Payment:
Pay bills for utilities such as electricity, water, and internet.
Notifications:
Send transaction confirmations via email and SMS.
Loan Management:
Allow users to apply for loans and check application status.
Administrator Features:
View and manage user complaints.
Monitor system performance and security logs.
3.2 Non-Functional Requirements
Performance:
The system must handle up to 10,000 concurrent users.
Security:
Data must be encrypted using SSL/TLS.
Passwords must be hashed and stored securely.
Usability:
The interface should be intuitive and accessible.
Availability:
Ensure 99.9% uptime, with planned maintenance scheduled during off-peak hours.
Scalability:
Support growth in the number of users and transactions.
3.3 External Interface Requirements
User Interface:
Responsive design compatible with desktops and mobile devices.
API Integration:
Integration with third-party services for bill payments and SMS notifications.
Hardware Interfaces:
Hosted on a cloud platform with scalability support.
4. Appendices
A. Glossary
SSL/TLS: Secure Sockets Layer/Transport Layer Security.
API: Application Programming Interface.
B. Future Enhancements
Mobile application for Android and iOS platforms.
AI-based fraud detection system.
C. Index
Not applicable.
This document provides a clear roadmap for the development and implementation of the Online Banking System while adhering to IEEE standards
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