DESIGN AND IMPLEMENTATION OF ACCOUNT HOLDERS INFORMATION SYSTEM FOR A MICROFINANCE BANK
ABSTARCT The Bank Holders Account Information System is a program used to manage a person’s bank account. In this assignment, I attempted to demonstrate the operation of a banking account system and describe the fundamental features of a Bank Account Management System. Creating and administering user accounts is a difficult task for any IT company. Currently, financial institutions document and manage user accounts manually. This system has proved to produce numerous errors, as records are consistently mismanaged. Some existing software is insufficiently functional and lacks the necessary capabilities. It is necessary to develop a system for managing user credentials. This project has been created so that processes can be executed quickly and easily, which is not feasible with manual systems. After analyzing the system requirements, the project generates the requirements specifications. It investigates similar systems and then develops system specifications. The system is then designed according to the requirements and specifications. The design of the system is then implemented using MYSQL, PHP, and HTML. The system is designed to be interactive and to manage content. The content management system is responsible for data entry, validation, and updating, whereas the interactive system is responsible for system interaction with the administration and users. Thus, the aforementioned features of this endeavor will save transaction time and increase the system’s efficiency.
FIRST PART
Introduction
1.1 CONTEXT OF THE STUDY
The initiative “Account Holders Information System” is a model Internet Banking Website. This website enables bank employees to effectively administer user accounts. The system allows the customer to establish an account, deposit and withdraw funds, and view reports for all accounts. Customers can access the bank’s website to observe their Account information and conduct account transactions according to their needs. Internet Banking transforms the brick-and-mortar structure of traditional banking into a click-and-portal paradigm, thereby giving virtual banking a physical form. Thus, modern banking is no longer limited to branch locations. E-banking enables consumers to conduct banking transactions globally and around the clock. [Arestis, Peter, and Peter, 2007]
Currently, Microfinance bank user accounts are managed manually. The purpose of this “Account Holders Management System” is to provide an enhanced design methodology that accounts for the necessary future expansion and modification of the central banking sector. This necessitates an expandable and modifiable design, necessitating a modular approach to application software development. Anyone with an account at this bank is eligible to join the Bank Account Management System. He must provide his personal information and Account Number on a form. [Aziz, J. and C. Duenwald.(2002)]. The bank is the location where customers believe their property is secure. Customers deposit and withdraw funds from the bank. A customer’s reliance on the bank also extends to monetary transactions. Now, in order to maintain the confidence and trust of consumers, it is imperative that the bank’s management can handle all of this with ease. Smooth and efficient management indirectly influences customer and employee satisfaction. Moreover, it encourages the management committee to make necessary decisions for the bank’s future growth.Up to a point, administering a bank today is a tedious task. Therefore, software that reduces labor is indispensable. In addition, today’s world is a genuine computer world that is accelerating daily. Consequently, in light of the aforementioned requirements, software for bank management that would facilitate more efficient administration of the bank has become essential.All transactions are conducted online via transfers between accounts held at the same Bank or international bank. The software is designed to address the shortcomings of the manual system.
1.2 DESCRIPTION OF THE PROBLEM
The traditional method for maintaining a user’s information in a microfinance bank was to input and record the information. Every time the user needs to conduct a transaction, he must travel to the bank and complete the necessary steps, which is not always practicable. It may be a challenging endeavor for both users and bankers. The project provides a practical understanding of the Online Banking System and the activities conducted by various supply chain roles. Here, we provide Internet-based financial system automation. The Online Banking System project captures the activities conducted by various roles in real-world banking. This provides improved techniques for keeping the necessary information current, resulting in increased productivity. The project provides a practical understanding of the Online Banking System and the activities conducted by various supply chain roles.
1.3 OBJECTIVES OF THE STUDY
This study’s primary objective is to develop an account holder information system for microfinance banks. The objective is to guarantee efficient management of user accounts in banks. To accomplish the stated goal, the following specific objectives were established:
i. Develop a banking system where users can log in using their account logon id and password on a secure web page.
ii. Users will have access to all options and features, such as receiving funds from Western Union, transferring funds to third parties, and sending currency or funds to interbanking and other banking customers by simply adding them as payees.
iii. To design software that can generate monthly financial statements from multiple revenue sources.
iv. Design a secure database capable of storing large amounts of data with restricted access.
v. The system will be able to generate monthly and annual user account statements.
1.4 SCOPE OF THE EXAMINATION
The software was developed with the most robust and secure backend MYSQL database and the most widely accepted web-oriented and application-oriented frameworks. This system maintains the daily tally as a comprehensive banking system. It can store information regarding Account type, account opening form, Deposit funds, Withdrawals, transaction searching, transaction reports, Individual account opening form, and Group Account. It displays Transaction reports, Statistical Summaries of Account Types, and Interest Information. Select Online Banking if you wish to experiment with online banking before committing to it. There is no registration requirement, so it’s a good method to check it out before registering. After registering, you will have the option of performing fundamental banking tasks such as viewing your balance or performing more complex transactions such as bill payments and transfers. The decision is yours to make. It really depends on your banking preferences. After each transaction, you will receive a confirmation number, and you can always check the session summary to see what you’ve accomplished. Customer service is always available to assist you in the event of an error.
The following are some of the features accessible via bank holder information:
To view account balances, log in with your account number and password. Then verifying your balance requires little effort. Simply select Account balances to view your current and historical balances. If you have multiple accounts, you can also transfer funds between them.
When you select Transfer Funds, you will be asked where the money will be transferred to and from, when, and the sum.
Set up recurring bill payments or transfers If you make a monthly payment, it may be convenient to arrange for an automatic withdrawal from your account.
4. Monitor CIBC investments If you have investments with CIBC, you can monitor your securities and mutual funds here.
To pay your bills online, simply add the names of the companies you desire to pay your bills to to your account.
View our accounts with VISA*: Always an excellent place to track your spending.
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