BANK MANAGEMENT SYSTEM (BMS)
SYNOPSIS
1. Introduction to Project
The Bank Management System is a python SQL connectivity program
designed to increase efficiency and ease day to day transactions and
banking tasks. The Bank Management System project aims to
address several key challenges in traditional banking operations. By
leveraging Python's intuitive programming features and MySQL's
robust data management capabilities, the system provides an agile
and user-centric platform for both customers and administrators.
2.Objective of the project
1. Automation of Banking Processes: The system will automate
various banking functions, including account management,
transactions, and reporting.
2. User-Friendly Interface: A focus on creating an intuitive
interface to ensure ease of use for both bank staff and
customers.
3. Data Management: Efficiently handle customer data, account
details, and transaction history with robust security measures.
4. Real-Time Transactions: Facilitate real-time processing of
transactions to enhance customer satisfaction.
5. Reporting and Analytics: Provide insights into banking
operations through detailed reports and analytics.
3. The Existing System
-Data Entry: Much of the data entry is done manually, which is time-
consuming and prone to mistakes.
-Reporting: Generating reports is typically a manual process that can
take a significant amount of time and resources.
-Isolated Functions: Different departments (e.g., loans, customer
service) may use separate systems, leading to communication issues
and data silos.
-Data Vulnerability: Older systems may not employ modern security
protocols, making sensitive customer information more vulnerable to
breaches.
-Long Wait Times: Manual processing can lead to longer wait times
for customers, negatively impacting their overall experience.
4. The Proposed System
-Add Account: Users can easily open new accounts by providing
essential details, streamlining the account creation process.
-View Balance: Account holders can check their account balance in
real-time, fostering transparency and financial awareness.
-Give Feedback: The system facilitates a channel for users to provide
feedback, ensuring continuous improvement based on user input.
-View Transaction History: Users have access to their transaction
history, aiding in financial record-keeping and reconciliation. Admin
Functions
-Add New Accounts: Administrators can add new accounts to the
system, streamlining the process of on boarding new customers.
-Update Loan Status: The system empowers administrators to
update the status of loans, tracking repayments and ensuring
accurate record-keeping.
-View Loan Defaulters: Admin can identify and view details of
customers who have defaulted on loan payments for a specified
period.
