Online banking management system
Project implemented by members of IEEE-SPS, VIT
ABSTRACT:
The Bank Management System is a software for maintaining a person’s account in a bank. In this project, I showed the working model of bank system and its many functionalities. The aim is creating a Bank Management System. This helps the bank employees to make all the transitions very fast instead of recording it manually. I have used PHP as back-end, HTML as front-end, CSS for styling and MySQL as database connection.
INTRODUCTION:
The banking management is one of the many booming sectors in financial economy with many new customers adding up each day. Trustworthiness of both bank and its clients is crucial when it comes to financial management. So, the bank management system is one of the most complex and critical system since the transactions are going on at every second and at every corner of the world. This system needs to be transparent so that there won’t be any confusions among the customers. This system not only stores all the transactions but also make a report for the customers to verify it.
So, this project is about making a computerized banking system which will very efficient and flexible. This will greatly reduce the labour costs and also reduce the human error as everything is programmed accordingly and will only work according to the program so there won’t be any chance of committing errors. Digitization of bank will help in growing in every aspect. This will not only help in making the work easy but will also improve the speed of work as there is no need of physical file management and everything is stored in the server. All the information needed by the customer are just few clicks away and this will increase the trust of the customers. The bank system which uses physical files as records are very slow compare to computerized bank systems and 4 have very high probability of human error.
The drawbacks of the bank system which uses physical files are:
- There is less security of all the information stored.
- It requires more work and labour.
- The manual writing will take more time
- If there is a disaster, there is no chance of recovery.
- Doesn’t have backup.
By looking at these disadvantages it is pretty sure that no bank can exist using traditional techniques in today’s world. By computerizing the banking system, I can not only achieve all the goals but also bring additional benefits like less calculations and many more.
These are some of the improvements
- The system will be more secure compared to the previous one.
- A limited man power is enough
- The details can be edited very fast
- There is always a backup available in case of disaster.
- Data is accurate.
- User friendly.
- Reliable and efficient
LITERATURE SURVEY:
A Study of Performance of Online Banking in Comparison with Traditional Banking and Its Impact on Traditional Banking.
- This paper is pointed toward understanding the idea of online based banking and traditional banking. In conventional banking framework, a client can open any financial balance in banks, take the office of setting aside his cash by saving cash in nearby bank.
- He can pull out his cash through check, counter instalments and through bank draft. He can meet the bank administrator and ask his concern. He can take the actual assistance for getting credit from bank.
- Internet Banking is a retail banking which empowers clients to work his record from anyplace and whenever. Internet Banking give Fund Transfer, Credit PPF Account, Request Issue D.D., Request For advance, service charge instalments, Online bill instalments, Online ticket booking, Online offer exchanging, Visa instalments, LIC premium instalments, Online gift and so forth.
- The study is restricted to Colleges or Institutes in Pune city. The study considers the Project readiness as one of angle for scholastic planning.
- Mobile and Internet Banking as one of factor of impact have been taken for study.
ANALYTICAL STUDY ON INTERNET BANKING SYSTEM:
- The way that financial establishments may develop their market territory without building new workplaces or field administrations, individually. In view of its picture as a creative company, better cooperating conceivable outcomes, the utilization of defence possibilities, advancement of self-adjusted as, the improvement of its serious circumstance by advancement of centre abilities along with the development of market section hindrances, it might be conceivable to expand benefits and pieces of the pie.
- We have commented that there are at any rate two significant HCI challenges in Internet banking. The principal challenge is identified with the difficult how to expand the quantity of administrations of Internet banking and at the same time ensure the nature of administration for singular clients.
- A software requirements definition is a theoretical specification of the administrations which the framework ought to give and the requirements under which the framework must work.
- Furthermore, necessities definition is likely the main procedure in organized investigation. It is the main procedure that saturates each progression of the strategy.
- It additionally is one of the most un-pictorial, making it hard to depict absolutely. Generally, the strategy includes catching what the clients truly need and ensuring that each resulting venture action prompts the most ideal change of those client needs into framework needs which, when fulfilled, will convey what the clients needed in any case.
- In this paper, a logical investigation for internet banking framework has been introduced. The banking framework ought to be worked inside extraordinary necessities, since that the practical prerequisites and its detail has been proposed.
PROPOSED WORK:
In our proposed system, I will be making online banking. In online banking I would be proposing activities that can be carried out once you log in to your bank account. Once a user logs in he or she can check the bank balance, check bank account transaction history or account summary, transfer funds to another account, change password, and session timeout logout of 10 minutes inactivity.
CONCLUSION:
The goal of bank is to provide value added services and products to the users, utilizing the internet extensively. The main aim of online banking is to make transactions through online processes and provide customers with more benefits.
FUTURE WORK:
The credit card fraud detection software can be integrated with the bank, by maintaining the credit card transactions of users in a database, then I can use the credit card detection software to automatically detect the unusual transactions which are recognized in the dataset and inform the users instead of users uploading a file to detect fraud in their card.
This project was developed by Nikita Sharma
nikita.sharma2019@vitstudent.ac.in
