*** Please utilize the Kanban project methodology : please look at Scenario B attachment*** Assignment 1: (please use the project plan draft attachment) For this assignment, you will draft a project
Running Head: PROJECT. 1
Internet Bank Project proposal
Michelle C. Smith
University of Phoenix
Internet Bank Project proposal
Overview
Internet bank is software providing financial services electronically to enable XYZ Bank clients transact via internet i.e. the bank’s website. Internet Bank has to contain technical factors such as manageability, scalability and security. Internet bank enable clients to make payments, transfer money, check balances, obtain statements and manage financial transactions. It is important in offering financial products and services such as opening of accounts and making deposits; application of debit, credit and travel cards, loans; Insurance, investment and tax services. Internet bank is multi-channel meaning with online banking system being the major channel and other features include Mobile; Channels for Distribution i.e. SMS, fax and E-mail; Call Centers (IVR). All these features are controlled by same administrator, have same security features and can access information of the Bank. It offers complete services to private, corporate, retail and SMEs (Small and Medium Enterprises) customers. This project aims at developing technical architecture that supports business processes for Internet Bank.
Scope of the project
Opportunities from the Project
The project will create an online presence as extension of our business.
The project will increase the number of customers opening accounts and transacting with our bank.
The project will ease accessibility of our services by customers since it allows clients to transact remotely without necessarily coming to the bank’s premises.
The project will lead to extensive marketing of company’s existing and update customers on new products and services.
The project will improve efficiency of services by reducing the number of clients who visit the banking hall.
It will provide an opportunity for increased profitability as it cuts operational costs of hiring many employees.
It will enable 24 hour access to bank’s service and account access.
Project Objectives
To provide internet presence of bank’s services and products as business extension.
To improve efficiency of services offered by the bank since it is fast and easily accessible.
To make service and products of the Bank to be available anywhere and at any time.
To act as a marketing tool for company’s products and services.
To increase profitability by reducing operational costs and also increasing client base.
To increase the number of customers by wooing internet users.
To make the bank competitive with other banks with internet presence.
Project Methodology
Technology (Technical Architecture)
The software presents a solution for online banking services. It should contain account and deposit features, credit, debit and travel card services features, loans and insurance service features, investment feature and tax service feature. For success, technical features for the software application are;
Scalability- architectural infrastructure should allow recruitment of new customers and at the same time offering uninterrupted services to the already signed up users.
Availability- The software should be accessible all time i.e. 24 hours and 7 days a week. The services should also have best user interface.
Security- Each user must be carried through a thorough process during registration for identification before any transaction and should contain multi-level authentication and security practices accepted by the industry.
Manageability- The software should be easily managed by administrators, easily updated and supported.
Internet bank has a database for storing records of users, bank information and system information. Application services such as deposit features and account services are business processes presented as XML web features. The interfaces allow ease of redesigning based on requirements of the bank and features of particular channels. The front-end interfaces depend on tier of application services. Integration level allows for easy interaction between the internet bank features and bank information.
High-Level Schedule
The project will take a total of 2 months. This development project of technical architecture will be written and completed in a week and then forwarded to the senior management and investors for review. The project report will then be taken to the designer who will design the software application who in the second week and will take about 4 weeks to prepare the project. The software application will be tested and problems addressed for one week and then launched the last week concluding our 2 month project. Designers and testers have to be paid.
References
Marakarkandy, B., Yajnik, N., & Dasgupta, C. (2017). Enabling internet banking adoption. Journal of Enterprise Information Management.
