2.

Develop software requirements specification for

b) Banking Management System

1. Introduction
The Banking Management System is a software solution aimed at facilitating efficient
management of banking operations, including customer accounts, transactions, loans, and
other financial activities. This document outlines the functional and non-functional
requirements for the development of the Banking Management System.

• Purpose
The purpose of this software system is to streamline banking processes, enhance customer
service, improve data accuracy, and provide a secure platform for conducting financial
transactions.
• Scope
The Banking Management System will cover the following functionalities:
• Customer management
Account management
Transaction management
Loan management
Reporting and analytic

2. Overall Description
• Product Perspective
The Banking Management System will be a standalone system interacting with external
systems such as payment gateways, credit bureaus, and regulatory authorities through APIs.
• Product Functions
Customer Management
Register new customers
Update customer information
View customer details
Search for customers by various parameters

• Account Management
Open new accounts (savings, current, fixed deposit, etc.)
Close accounts
View account details
Perform account transactions (deposit, withdrawal, transfer)
Generate account statement
• Transaction Management
Record all financial transactions
Support different transaction types (debit, credit, transfer, etc.)
Validate transactions for accuracy and security
• Loan Management
Process loan applications
Manage loan accounts
 Calculate interest and instalments
Track loan repayments
• Reporting and Analytics
Generate various reports (transaction history, account statements, etc.)
Provide insights through analytics on customer behaviour, financial trends, etc.
• User Classes and Characteristics
The users of the Banking Management System include:

Bank staff (managers, tellers, loan officers)

Customers
• Operating Environment
The system will be developed as a web application, accessible through modern web browsers.
It will be hosted on a secure server with appropriate backup and security measures in place.

3. System Features
• Customer Management
Feature 1: Register New Customers Description: Bank staff can register new customers by
collecting required personal and contact information.
Feature 2: Update Customer Information Description: Allow bank staff to update customer
details such as address, contact number, etc.
Feature 3: View Customer Details Description: Provide a view to see all details related to a
particular customer.
Feature 4: Search Customers Description: Allow searching for customers based on various
criteria like name, account number, etc.

• Account Management
Feature 5: Open New Accounts Description: Enable bank staff to open new accounts for
customers, specifying account type and initial balance.
Feature 6: Close Accounts Description: Provide functionality to close accounts upon
customer request or under specific conditions.
Feature 7: Account Transactions Description: Allow customers to perform
transactions like deposit, withdrawal, and transfer between accounts.
Feature 8: Generate Account Statements Description: Generate account statements for
customers on request or periodically.

• Transaction Management
Feature 9: Record Transactions Description: Record all financial transactions accurately and
securely.
Feature 10: Transaction Validation Description: Validate transactions to ensure accuracy and
prevent fraudulent activities

• Loan Management
Feature 11: Process Loan Applications Description: Enable customers to apply for loans and
facilitate the processing of loan applications.
Feature 12: Loan Account Management Description: Manage loan accounts, including
disbursement, repayment, and interest calculations.

• Reporting and Analytics

 Feature 13: Generate Reports Description: Generate various reports such as transaction
history, account summaries, etc.
Feature 14: Analytics Description: Provide analytical insights into customer behaviour,
financial trends, and performance indicators.
4. External Interface Requirements
• User Interfaces
The system will have intuitive and user-friendly UIs for both bank staff and customers. It will
include forms for data entry, dashboards for data visualization, and reports for information
retrieval.
• Hardware Interfaces
The system will run on standard hardware configurations, including servers for hosting and
client devices (computers, tablets, smartphones) for user interaction.
• Software Interfaces
The system will interact with external systems through APIs for functionalities like payment
processing, credit checks, and regulatory reporting.
• Communications Interfaces
The system will utilize secure communication protocols (HTTPS, TLS) for data exchange
between client devices and the server. It will also integrate with email services for
notifications and alerts.

5. Non-functional Requirements
• Performance Requirements
The system should handle concurrent user requests efficiently without significant degradation
in response time.
Transaction processing should be real-time, with minimal latency.
Reports generation should be completed within reasonable timeframes, even for large
datasets.
• Security Requirements
User authentication and authorization mechanisms should be robust to prevent unauthorized
access.
Data encryption should be employed for sensitive information both in transit and at rest.
Regular security audits and updates should be performed to identify and mitigate
vulnerabilities.
• Reliability Requirements
The system should have a high level of availability, with minimal downtime for maintenance
or upgrades.
Backup and recovery mechanisms should be in place to ensure data integrity and availability
in case of system failures.
• Scalability Requirements
The system should be scalable to accommodate growth in the number of users and data
volume.
Performance should not degrade significantly as the system scales up.
• Usability Requirements
The UI should be intuitive and easy to navigate for both bank staff and customers.
Help documentation and tooltips should be provided where necessary to assist users in using
the system effectively

6. Other Requirements
The system should comply with relevant banking regulations and standards.
It should support multi-currency transactions and international banking standards where
 applicable.
Regular software updates and maintenance should be provided to address bugs and add new
features as needed.

7. Glossary
UI: User Interface
DBMS: Database Management System
API: Application Programming Interface
HTTPS: Hypertext Transfer Protocol Secure
TLS: Transport Layer Security
This concludes the Software Requirements Specification (SRS) for the Banking Management
System