Functional Requirements Document

Version Description of Change Author Date

1.1.0 Adding a new menu called ‘Student Naresh 20.09.2024

Savings in the existing Deposit Menu
 CONTENTS

1 INTRODUCTION.......................................................................................................3
1.1 Purpose....................................................................................................................3
1.2 Scope........................................................................................................................3
1.3 Background..............................................................................................................3
1.4 References................................................................................................................3
1.5 Assumptions and Constraints..................................................................................4
1.6 Document Overview................................................................................................5
2 METHODOLOGY......................................................................................................5
3 FUNCTIONAL REQUIREMENTS............................................................................5
4.1 Context.....................................................................................................................5
4.2 User Requirements...................................................................................................5
4.3 Data Flow Diagrams................................................................................................6
4.4 Logical Data Model/Data Dictionary......................................................................6
4.5 Functional Requirements.........................................................................................6
5 OTHER REQUIREMENTS........................................................................................6
5.1 Interface Requirements............................................................................................6
5.2 Data Conversion Requirements...............................................................................7
5.3 Hardware/Software Requirements...........................................................................7
5.4 Operational Requirements.......................................................................................7
APPENDIX A - GLOSSARY...........................................................................................11
Introduction:
Axis Bank has introduced a new savings scheme only for student of age limit from 3year to 8 years and
having a maturity period of 18 years, which can be extended up to 3 years (ie, 22 years)Name of the
scheme is “AxisStudentMoney”.

Purpose:
Main aim of this scheme is to include the students into the financial sector and provide financial literacy.
Any student can open a savings account having an age limit of 3 to 8 years and having a maturity period
of 18 years, which can be extended up to 3 years (ie, 22 years). Student is allowed to close or partial
withdrawal of the deposit amount based on the following issues like further study, medical, International
competition participation, etc. This can be This account can also be opened either parents or teachers on
behalf of student.

Scope:
This application will be addition of existing bank application. The Home page should contain the
information about the student savings scheme with clear picture having a background of bank’s image.
In that screen, there should be one buttons ‘open account’. In second page will ask only Name, Mobile
Number, mail & Aadhar number. (As this account opening is based on Aadhar) once details are entered
and submitted it should be linked to UIDAI site using API. Then after the Aadhar had veryfied the 3 rd
screen will ask the personal details like father’s, Mother’s Name, current Address, permanent address,
School details, etc. If the student/user filled all the details confirm it and make the user to accept the
Terms and conditions. Then submit button. Once the button is clicked save the student personal
information and stores it in our database. Show a message “Your account is successfully created. Kindly
visit your nearest branch along with your original KYC documents & a Photo”.

Background:
Deposit scheme are one of the financial products, which helps the user/customer to save/deposit their
earning in a particular safely place. As technology grows, financial institutions adapted into their
business growth. So a customer can open, checking, access & withdrawn their savings without physically
visiting a branch. Our product is one such type of product which helps only students to open a deposit
account through online application form. Axis bank has a long history of doing banking operations across
India and currently bank is planning to include all students into the banking sector.

Reference:
https://imobile.icicibank.co.uk/digionboardukweb/#/signup
https://www.icicibank.com/personal-banking/accounts/campus-power-account
https://www.hdfcbank.com/personal/save/accounts/savings-accounts/digisave-youth-account
https://www.kotak.com/en/personal-banking/accounts/corporate-salary-account/uni-account.html

Assumption:
Home page of the student savings scheme defines the product features like Zero-fee account, free ATM
card, Passbook, Netbanking facility, etc. Terms and conditions are defined in one page. Required
document to open a student savings scheme.

Constraints:
This scheme should support and work in all type of electrical gadgets like windows/mac/Lunix, Iphone,
Android phones, Tab verisions, etc.
Access to UIDAI site/third-party site within short period of time to get their confirmation about the user
by using API’s.

Document Overview: Project documentation is explained through Business process Modeling.

Methodology:
There are various methods used to document this functional requirement is documented like
Interviewing with all the stakeholders, Document Analysis , SWOT analysis, etc.

Functional Requirements:
1. Context: User gives input to us through our Bank application and his KYC is verified through UIDAI app
using API. After conformation, Bank application allow user to enter his personal information and
accepted it with Terms and condition. Once he successfully submitted, he got notification about his
account status and at the same time his personal information is saved in our Database server.
User Requirements:
NA

Data Flow Diagram:

 AXIS BANK A/C OPENING FLOW DESIGN

NEW A/C KYC & USER

HOME PAGE
OPENING INFO
STUDENT / PARENT

Customer Login
Enter Correct KYC
OTP
SENT OTP
VERIFICATION
User ID
&Password
AXIS BANK SERVER

OTP KYC
CONFORMATION
FAILS Verification
Enter failed
Correct verified
Crediencial
UIDAI SERVER

OTP SUCCESS

USER INFO
VERIFICATION
AXIS BANK DATA BASE ---------

KYC Verified

ACCOUNT_NO Personal
CREATION information
Saved

Logical Data Model/Data Dictionary:

NA

Functional Requirements: List the functional requirements of the system.

Functional Requirement Group 1:

Exhibit 4 - Sample Requirements Group 1

Section/
Requirement ID Requirement Definition
FR1.0. New Account open Module (Aadhar Validation)
FR1.1 Customer should link the mobile number with their Aadhar
FR1.1.1 After successfully validated with UIDAI, User can Enter the personal Info.
FR1.1.2 After user successfully submitted the data. Save it in our Database and open an
Instant Deposit account with immediate notification to the user.

Biometric finger print lock/unlock should be enabled for mobile application. (Note:
enable this functionality only for finger print access enabled mobiles)

4.1.1 Functional Requirements Group 2, Etc.

5 OTHER REQUIREMENTS
1000 Unique customers should able to register at the same time.

5.1 Interface Requirements

We are using the following API’s for our bank’s application.
Partner APIs
Shared with specific business partners, such as mortgage companies, that have a business relationship
with the bank.

KYC APIs
Allow other providers to securely and digitally verify a customer's identity against bank databases.
Analytics
Enable banks to collect large amounts of customer behavior data, which can be used to create more
targeted marketing campaigns.
API aggregators
Provide a single interface to all banks that can access personal and financial data.
Plaid
An open-source API for banking aggregation that allows financial institutions to develop products
related to investments, assets, and student loans.

5.1.1 Hardware Requirements

Processor: At least a 1-GHz processor
RAM: At least 1 GB of RAM
Internet connection: A cable, DSL, or ISDN connection with a minimum download speed of 1 Mbps

5.1.2 Software Requirements

Operating System: A Standard PC or Macintosh with Microsoft windows 7/8/10/10 or mac os x.
Browser: A browser that is up to date and provides anti-virus and spyware protection.

5.2 Data Conversion Requirements

[Describe the requirements needed for conversion of legacy data into the system.*****

5.3 Hardware/Software Requirements

NA

5.4 Operational Requirements

Application should be user friendly and it can be accessed through all types of Operating systems and all
gadgets like PC/laptop/ Tablet/ Mobile app.

5.4.1 Security and Privacy

Security measures
Axis Bank uses physical, electronic, and procedural safeguards to protect customer information from
loss, misuse, and unauthorized access.
Data storage
Axis Bank stores customer information for a minimum of 10 years, or as long as necessary to fulfill the
purpose for which it was collected.
Data deletion
Axis Bank will delete a customer's personal information upon request, unless the customer has an
active service or loan with the bank, or if the information is required by law.

Communication
Axis Bank will not ask customers to disclose personal information via email or SMS, nor will they ask
customers to download remote access apps.
Password policy
Axis Bank recommends that customers use a password that is at least 8 characters long and no more
than 28 characters.
Responsible disclosure
Axis Bank encourages security researchers to disclose any security vulnerabilities they find in their
services.

5.4.2 Audit Trail

**************************************

5.4.3 Reliability
This application is consider as one of the most secured banking application in the financial sector
because of its variety of security features and services include online Aadhar validation, fund transfer,
Personal information storage. If the process discontinued due to technical issues like connective issue or
system crash or any other reasons, the your data should not be leaked or rise any privacy issues.

5.4.4 Recoverability

If a system failed or down during online, then it will not save the data whatever the customer/user
entered in the application. At the same time user can easily reenter the data within a short period of
time.

5.4.5 System Availability

Usually this application is available for the customers/users for 24 * 7. Rarely it will be not available due
to upgradation/maintaince issue once in a month at late night timing.

5.4.6 General Performance

User experience
The user experience (UX) of a banking app is considered to be the key to its success. A seamless user
experience can help to build customer loyalty and innovation.
Customer support
How well a bank responds to customer feedback and complaints is important. Some banks have better
support teams than others, and some customers have complained about not being able to contact
customer care easily.
App design
The design of a banking app should be intuitive, efficient, and visually appealing. Adding too many
features can distract users from the core functionalities.
Regular updates
Releasing regular updates can help to keep the app error-free.

**Mobile banking has had a positive impact on the Indian banking sector, helping to save time and
transaction costs. It has also helped to reduce the workload on bank staff.

5.4.7 Capacity
Application is designed to handle a maximum of 1000 users at a time. So that we can avoid the issues
like server down, application crash, etc.

5.4.8 Data Retention

Data/ Information of the customer is saved in the bank’s server is retained as per the bank’s policy as
well as Government guideline.

5.4.9 Error Handling

NA

5.4.10 Validation Rules

There is no separate validation rule for KYC document. Bank will follow as per the government guideline.

5.4.11 Conventions/Standards
Security
The app should have a secure registration process, and use biometric authentication or a multi-factor
authentication system.
Payment systems
The app should support payment systems like IMPS, BHIM-UPI, NFC Technology, RTGS or NEFT, and QR
Payment.
Personalization
The app should support personalization options like preferred language, date and time format, and
default transactions.
Features
The app should have features like balance and transactions, a spending tracker, push notifications, and
a transaction history or online passbook.
Customer support
The app should have a customer support feature.

APPENDIX A - GLOSSARY
[Define terms, acronyms, and abbreviations used in the FRD.]
** -- Additional Notes.