Functional requirements of Internet Banking System with non-functional
Functional Requirements
- User Authentication and Authorization
- Allow users to create and manage accounts, including logging in and out.
- Implement multi-factor authentication (MFA) for secure access.
- Support role-based access controls for different user roles (e.g., personal user, business user, admin).
- Account Management
- Provide users with the ability to view and manage their bank accounts, including checking, savings, and credit accounts.
- Allow users to update personal information, account settings, and security preferences.
- Transaction Management
- Enable users to perform various transactions, including fund transfers, bill payments, and direct deposits.
- Support transaction scheduling, including one-time and recurring payments.
- Account Statements and History
- Provide users with access to account statements, transaction history, and activity reports.
- Allow users to download and print statements in various formats (e.g., PDF, CSV).
- Fund Transfers
- Facilitate internal transfers between accounts within the same bank.
- Support external transfers to accounts at other banks, including international transfers.
- Implement features for scheduling future transfers and tracking transfer status.
- Bill Payment
- Enable users to set up and manage bill payments for utility bills, credit cards, and other services.
- Provide tools for scheduling payments and setting up recurring payments.
- Account Alerts and Notifications
- Send alerts and notifications for various account activities, including transaction confirmations, low balance warnings, and login attempts.
- Allow users to customize alert preferences and notification settings.
- Loan and Credit Management
- Provide tools for managing loans and credit accounts, including viewing loan balances, payment schedules, and interest rates.
- Allow users to apply for new loans or credit products and track application status.
- Customer Service and Support
- Offer support channels for users to contact customer service, including secure messaging, chat, and phone support.
- Provide a help section with FAQs, guides, and troubleshooting resources.
- Security Features
- Implement fraud detection and prevention mechanisms, including monitoring for suspicious activity and unusual transactions.
- Provide users with security features such as account lock, password reset, and session timeout.
- User Interface and Experience
- Design an intuitive and user-friendly interface for accessing account information, managing transactions, and navigating the system.
- Ensure accessibility features for users with different needs and abilities.
- Integration with External Systems
- Integrate with payment gateways, credit bureaus, and other financial institutions for seamless transactions and data exchange.
- Support integration with third-party financial management tools and applications.
- Data Management and Privacy
- Ensure user data privacy and compliance with regulatory requirements (e.g., GDPR, CCPA).
- Implement data encryption and secure storage practices to protect sensitive information.
Non-Functional Requirements
- Performance
- Ensure fast load times for account information, transaction processing, and data retrieval.
- Handle high volumes of concurrent users and transactions efficiently.
- Scalability
- Support the addition of new features, accounts, and users as the system grows.
- Scale to accommodate increasing transaction volumes and user traffic.
- Reliability
- Ensure high system availability with minimal downtime, especially during peak usage periods.
- Implement backup and recovery procedures to protect data and ensure business continuity.
- Security
- Protect user data with encryption, secure access controls, and regular security updates.
- Implement measures to prevent unauthorized access, data breaches, and financial fraud.
- Usability
- Provide an intuitive and user-friendly interface for account management, transaction processing, and support.
- Ensure ease of navigation, data entry, and information retrieval for users with varying levels of technical expertise.
- Maintainability
- Design the system for easy updates, maintenance, and troubleshooting.
- Provide clear documentation for system administrators, developers, and support personnel.
- Compatibility
- Ensure compatibility with various devices (e.g., desktops, tablets, smartphones) and web browsers.
- Support different operating systems and platforms to ensure a consistent user experience.
- Data Integrity
- Ensure accuracy and consistency of financial data, including account balances, transaction records, and user information.
- Implement validation checks and error-handling mechanisms to maintain data quality.
- Support and Documentation
- Provide comprehensive user manuals, help guides, and support resources for troubleshooting and training.
- Offer technical support for system issues and maintenance.
- Auditability
- Maintain logs of system activity, user interactions, and data changes for auditing purposes.
- Provide audit trails for transaction processing, account management, and security events.