Mobile Banking Application and Digital Banking

Project report submitted in partial fulfillment of the

requirement for the degree of Bachelor of Technology

in

Computer Science and Engineering

By

Aarush Saxena (191315)

Under the supervision of

Dr. Aman Sharma

to

Department of Computer Science & Engineering and

Information Technology

Jaypee University of Information Technology

Waknaghat, Solan-173234, Himachal Pradesh
 Candidate’s Declaration

I hereby declare that the work reported in the B.Tech Project Report entitled
“Mobile Banking Application and Digital Banking” submitted at the Jaypee
University of Information Technology, Waknaghat, India is an authentic record of
our work carried out under the supervision of Dr. Aman Sharma and Mr. Murari
Lal. I have not submitted this work elsewhere for any other degree or diploma.

Aarush Saxena 191315

This is to certify that the above statement made by the candidates is correct to the
best of my knowledge.

Dr. Aman Sharma

Project Coordinator
JUIT
Date:

Mr. Murari Lal

Project Supervisor/ Deputy Vice President
Shivalik Bank
Date: 10/05/2023
 ACKNOWLEDGEMENT

Firstly, I express my heartiest thanks and gratefulness to Almighty God for his
divine blessing in making it possible to complete the project work successfully.

I sincerely thank my supervisors,Dr. Aman Sharma, Assistant Professor,

Department of CSE, and Mr.Murari Lal, Deputy Vice President, Shivalik Small
Finance Bank, Noida, and express my sincere gratitude to them. This project has
been made possible by their continual kindness, expert assistance, ongoing
encouragement, frequent and vigorous supervision, constructive criticism,
insightful counsel, reading several substandard versions, and fixing them at every
level.

I would like to express our heartiest gratitude to Dr.Aman Sharma, Department of

CSE, and Mr.Murari Lal,Shivalik Small Finance Bank, for their kind help to
finish this project.

In addition, I humbly thank everyone who has contributed to the success of my

project, whether directly or indirectly. In this particular circumstance, I want to
express my gratitude to all of the staff members—teaching and non-teaching—
who have provided me with practical assistance and made my project possible.

Finally, I must acknowledge with due respect the constant support and patients of
my parents.

Aarush Saxena (191315)

Table of Contents

1. Introduction 1
1.1 Introduction
1.2 Problem Statement
1.3 Objectives
1.4 Methodology

2. Literature Survey 14-15

2.1 Requirements

3. System Development 16-37

3.1 System Overview
3.2 System Algorithm
3.3 System Design
3.4 System Implementation

4. Performance Analysis 38-56

4.1 Analysis
4.2 Performance Requirements
4.2 Security Requirements
4.2 Software Quality Attributes
4.2 Other Requirements

5. Conclusion 57
5.1 Conclusion
 List of Figures

Figure Number Title of Figure

1
Technology Partners of Shivalik Bank

2 Digital Banking in Shivalik Bank

3 Shivalik Bank Logo

4 Business Partners of Shivalik Bank

5 The registration process to be followed in the application

6 Beneficiary Transfer Process

7 Debit Card process for login

8 The process flow of Account Statement Generation

9 Quick Transfer process (IMPS) flow

10 Fund Transfer (RTGS flow)

11 Fund Transfer (NEFT process) flow

12 The First Page of the Application

13 The Splash screen to choose the Registration method

14 Post-Login page of the app

15 Setting up page of Temporary Pin

16 Balance view page in the application

17 Account statement page for term deposit in the application

18 Account statement page for savings in the application

19 Landing page for term deposit opening page

20 Login Page in the application

21 Debit Card registration page

22 Aadhaar Card Login Method

23 Branch Login method using temporary Pin

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 ABSTRACT

The creation of a mobile banking application for Shivalik Bank is the main goal
of this project. The goal is to develop a safe, effective, and easy app that lets users
effortlessly access and manage their financial accounts on mobile devices.
According to an agile development process, the project may be improved
continuously and through iterative development based on user feedback.

Essential functions including account management, money transfers, bill

payment, transaction histories, and push alerts are provided via the mobile
banking app. For the confidentiality and integrity of client data and transactions,
the development team implements strong security measures, such as encryption
techniques, authentication methods, and adherence to industry standards.

The app is created as a cross-platform solution using React Native, providing

interoperability with both iOS and Android smartphones, to address the varied
demands of the bank's client base. To guarantee a high-quality and dependable
application, extensive testing is carried out throughout the development process.
This includes functional testing, security testing, and user acceptability testing.

Shivalik Bank will be able to provide its clients with a cutting-edge and practical
banking experience through a safe and user-friendly mobile application after this
project is successfully completed. In an increasingly digital banking environment,
the app's seamless functioning, improved security measures, and user-friendly
layout will help to increase client happiness, engagement, and retention.

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 CHAPTER-1

1.1 Introduction

Shivalik changed its name from Urban Co-operative Bank to become India's first
Small Finance Bank. In providing retail banking products and services, we have
more than 24 years of banking experience.

Shivalik has always placed a strong emphasis on technology, with customer

centricity as a fundamental tenet. The Infosys Finacle Core Banking and Digital
Banking Suite, which includes online and mobile banking, power the Bank. The
Bank has unequalled agility thanks to the cloud-based architecture, which enables
cost-effective scale management and growth. Shivalik is a direct member of the
National Financial Switch and is accessible on all retail payment platforms.

Having been founded in 2018, Shivalik Small Finance Bank is a relatively recent
addition to the Indian banking industry. Despite being a young participant, the
bank has already established a reputation for its dedication to offering its clients
top-notch financial services.

The bank's focus on the needs of its clients is one of its main advantages. In order
to suit its clients' unique financial demands, Shivalik Small Finance Bank makes
an effort to comprehend them and offers solutions that are tailored to their needs.
Relationship managers at the bank collaborate closely with clients to create a
financial strategy that matches their goals and objectives. This tactic has helped
the bank build a loyal clientele and a strong reputation in the market.

Another advantage of Shivalik Small Finance Bank is its sophisticated technical

infrastructure. To provide its customers with speedy, secure, and efficient
financial services, the bank makes use of cutting-edge technology. Customers
may easily use the bank's online and mobile banking technologies to access their
accounts and a range of financial services. Aside from that, the bank uses
technology to enhance its risk management and compliance operations, ensuring
that it complies with regulatory requirements and providing a secure banking

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environment for its customers.

Fig 1. Technology Partners of Shivalik Bank

environment for its customers.

A variety of financial goods and services, including deposits, loans, insurance,

and investment options, are provided by Shivalik Small Finance Bank. The bank
offers flexible periods and attractive interest rates on its deposit products, which
include savings accounts, current accounts, and fixed deposit accounts.

The bank offers a variety of loan products such as personal loans, business loans,
and agricultural loans that are tailored to each customer's particular requirements.

Shivalik Small Finance Bank provides investment options such mutual funds,
stocks, and bonds in addition to its standard banking goods and services. To assist
clients in achieving their financial objectives, the bank's wealth management
division offers specialised investment guidance and solutions.

Overall, Shivalik Small Finance Bank has made a name for itself in India as a
trustworthy and client-focused financial company. The bank is in a good position
to take the lead in the Indian banking industry because to its dedication to provide
top-notch financial services, cutting-edge technological infrastructure, and a
variety of financial goods and services.

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 Fig 2. Digital Banking in Shivalik Bank

Purpose

● Socially conscious impact lender

● Adopting a digital first strategy for all of our offerings for goods and
services
Innovator in financial goods and processes
● Financial inclusion and raising financial literacy Aim to supply our clients
with comprehensive solutions. Create value for all stakeholders, including
society, employees, and customers
● Environment, social, and governance (ESG) compliance In that order:
Customer, Organization, and Shareholders

The ideals of the organization are incorporated with diverse elements of nature in
the Shivalik Bank logo. The small green mountain/triangle and the blue on top of
the image icon in the photo stand for the earth and the sky, respectively. It also
suggests reaching upward because there is an arrow pointing up. These
characteristics are essential to the company's values since Shivalik Bank strives to
stand securely on the ground while reaching for the stars.

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 Fig 3. Shivalik Bank Logo

Mountains are symbolic of stability, strength, and growth when seen abstractly.
The image's mountain range, which is hidden by other mountains, symbolizes the
brand's forward-thinking nature. For all of our services, we are interconnected,
and the team's collective effort is as powerful as a mountain range. This
demonstrates the power of serving our internal and external customers. The blue
portion of the sky represents the universe, which also represents our potential
customers. This reveals a lot about our potential and goals. The icon's rounded
blue edge illustrates our clients' humble, polite, friendly, and professional
communication skills.

The earthy tones used by Shivalik Bank to represent a grounded attitude are the
inspiration for the colour green. Despite having a clear goal of continuing to
develop, we never placed our customers before anything. Our practical approach
is what gives Shivalik Bank its "client first" mentality.

With purposeful omission, the negative space demonstrates how Shivalik Bank
supports growth.

The banking industry is a vital part of every economy since it acts as a conduit for
money transfers between people, companies, and the government. Banks are
financial institutions that offer both consumers and businesses a variety of
financial services, including deposits, loans, and investments. The industry is
essential to the economy since it provides the funding required for expansion and
development. In this essay, we'll talk about how the banking industry operates and
why it's important.

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The two main tasks that the banking industry does are lending and accepting
deposits. Banks receive deposits from both individuals and businesses, which they
then use to offer their clients loans and other financial services.

Savings accounts, checking accounts, and certificates of deposit (CDs) are all
acceptable forms of deposits. These deposits generate interest, which is a portion
of the deposit amount that the bank pays to the depositor. The bank's policies and
the state of the market influence the interest rates on deposits.

The second role of banks is lending, where they give loans to both people and
businesses. The interest rate charged on loans, which can be secured or unsecured,
depends on the type of loan, how long it will last, and the creditworthiness of the
borrower. Banks make money by charging interest on loans that is higher than the
interest paid on deposits.

In addition to accepting deposits and disbursing loans, banks also offer a wide
range of other financial services, including insurance, investment banking, foreign
exchange, and wealth management. Banks act as middlemen, enabling the transfer
of money between investors, businesses, and private citizens. Banks also provide
financial coaching and other services to aid people and companies in successfully
managing their money.

Fig 4. Business Partners of Shivalik Bank

To preserve the integrity and stability of the financial system, governments place
stringent controls on the banking sector. Banks are required to maintain a
minimum reserve ratio, or the amount of cash they must have on hand, in order to
satisfy consumer withdrawal requests. Banks must also follow by a variety of

5
regulations, such as anti-money laundering legislation, in order to stop financial
crimes.

In conclusion, the banking sector is crucial to the growth and development of

every economy since it provides the funding needed for it. Deposits from both
people and businesses are used to fund loans and other financial services offered
by the sector. Other financial services provided by banks include insurance,
investment banking, wealth management, and foreign exchange. The industry is
highly regulated in order to maintain the integrity and stability of the financial
system, making it a crucial part of any economy.

Delivering financial services to consumers is done using a methodical, organized

manner in the banking industry. The banking business is a dynamic, complicated
one that needs meticulous planning, implementation, and administration of
numerous tasks. We shall go into great detail about the working process in the
banking industry in this article.

Understanding the wants and expectations of the client is the first stage in the
methodology of work in the banking industry. To offer individualized financial
solutions, banks must determine the customer's financial goals, risk tolerance, and
investment objectives. Relationship managers at the bank work closely with
clients to comprehend their financial needs and create an appropriate financial
plan.

The second phase is gathering client data and supporting documentation in order
to confirm the clients' legitimacy, income, and creditworthiness. To stop financial
crimes, banks must abide by a number of rules, including KYC (Know Your
Customer) and AML (Anti-Money Laundering). The compliance team at the bank
checks the documentation and information provided by the customer to make sure
it complies with all legal requirements.

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The third step involves providing customers with financial solutions based on
their financial goals and aspirations. Financial services offered by banks include
investments, loans, insurance, and deposits. The bank's relationship managers
work closely with customers to develop a financial plan that is specific to their
needs.

In the fourth step, the customer's financial portfolio is handled, and regular
updates on their investments are provided. Banks use a range of tools and
techniques, such as portfolio management software and risk management models,
to track customer investments and provide regular updates. The relationship
managers at the bank conduct routine evaluations of the client's financial plan and
implement any required adjustments in light of the market environment and the
client's shifting financial objectives.

The fifth phase entails giving consumers outstanding support and customer
service. Banks make significant investments in educating their employees to
deliver excellent customer service. The bank's customer care department is open
24/7 to address client concerns and questions.

In conclusion, the banking industry employs a methodical and organized approach

to providing clients with financial services. Banks must comprehend their clients'
demands and requirements, gather client data, offer tailored financial solutions,
oversee their clients' financial portfolios, and offer superior client care. To offer
consumers high-quality financial services, the banking sector is a complex and
dynamic enterprise that needs careful planning, implementation, and
administration of many operations.

1.2 Problem Statement

In recent years, mobile banking has grown to be crucial to the banking sector.
Customers anticipate banks to offer a convenient and safe mobile banking

7
application given the rising use of smartphones and other mobile devices. But
some banks still do not offer a mobile banking app, which can cause a number of
issues.

First of all, gaining and keeping clients may be difficult for banks without a
mobile banking application. Today's consumers want a smooth and convenient
banking experience, therefore the absence of a mobile banking application can be
a big letdown. Customers could decide to change banks in favour of those that
provide mobile banking services, which might result in a loss of market share for
financial institutions without a mobile banking application.

Second, banks without a mobile banking app can find it difficult to adapt to their
clients' shifting demands and preferences. Customers expect banks to offer a
variety of services through their mobile banking application due to the growing
popularity of mobile banking. Banks that do not provide a mobile banking
application may be perceived as out-of-date and may find it difficult to draw in
younger, tech-savvy consumers.

Thirdly, security issues may arise for banks without a mobile banking application.
To protect consumer transactions, mobile banking applications utilize cutting-
edge security measures like biometric verification and two-factor authentication.
Customers may not receive the same degree of protection from banks that do not
offer mobile banking applications, which might result in loss of customer trust
and confidence.

The fourth issue is that banks without a mobile banking app could experience
operational inefficiencies. Applications for mobile banking can simplify several
banking procedures and cut expenses. Banks without mobile banking applications
may be forced to use inconvenient and time-consuming traditional banking
procedures.

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Last but not least, institutions without a mobile banking app can run into
regulatory issues. Banks are required by regulatory agencies like the Reserve
Bank of India (RBI) to offer clients secure and effective financial services.
Absence of a mobile banking app may result in noncompliance with legal
regulations, which may result in penalties and fines.

In summary, banks without mobile banking applications may have a number of

issues, such as a loss of market share, security issues, operational inefficiencies,
and regulatory difficulties. In order to remain competitive and fulfill consumers'
shifting requirements and preferences, banks must offer a smooth and simple
mobile banking experience to clients.

1.3 Objectives

Numerous goals of mobile banking applications contribute to giving users a

simple and safe method to access banking services on their mobile devices. The
main goal is to give clients quick, safe access to financial services via mobile
devices. However, there are a number of other crucial goals that support the
general success of mobile banking applications.

Offering users a pleasant and user-friendly interface that enables them to do a

variety of financial operations quickly and effortlessly is one of the goals of
mobile banking applications. Anywhere and at any time should be able to access
this interface.

Another important goal for mobile banking applications is security. To guarantee

that consumer transactions are secure and to safeguard against fraud and cyber
attacks, they should implement cutting-edge security features like biometric
authentication, two-factor authentication, and encryption.

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Another key goal for mobile banking applications is personalization. Customers
should have a personalised banking experience from them by receiving services
that are tailored to them based on their transactional history and preferences.

Another crucial goal of mobile banking applications is efficiency. They should

boost efficiency, cut operating expenses, and streamline banking procedures. This
goal may be attained with the use of features like automatic bill payments,
financial transfers, and account management.

Another goal of mobile banking applications is accessibility. All consumers,

including those with impairments, should be able to use them thanks to
accessibility features like text-to-speech and screen reader technology.

Another crucial goal for mobile banking applications is integration. To give users
a whole financial management experience, they should interface with other
financial programmes like trading and investing software.

Another important goal of mobile banking applications is innovation. To provide

clients fresh and inventive banking experiences, they need to keep developing
with new technologies and trends like speech recognition and artificial
intelligence.

In conclusion, the goals of mobile banking applications include giving users an

innovative, personalized, secure, easy, and seamless banking experience. Mobile
banking applications can help banks maintain their competitiveness and adapt to
the shifting demands and preferences of their clients by fulfilling these goals.

1.4 Methodology

To guarantee that a mobile banking application fits both the expectations of users
and the security and compliance requirements imposed by banking laws, a well-

10
planned approach must be used throughout development. The following is a
general process that may be used to create a mobile banking application:

Define the scope and requirements: To begin, specify the requirements and the
scope of the mobile banking application. This includes choosing the features that
will be used, designing the user experience, and figuring out the necessary
security and compliance levels.

Research and analysis: Find out which mobile banking applications are now
available on the market and what features they provide. This can aid in locating
gaps that the new application can cover and offer information on user preferences
and expectations.

Create the user interface: Create the user interface when the requirements have
been established. In order to decide on the design, navigation, and functionality of
the application screens, wireframes and mockups must be created.

Develop the programme: Utilise the proper frameworks and programming

languages when creating the application. Make sure that the app is speed and
security optimised. To make sure the programme satisfies the criteria and is error-
free, extensively test it.

Integration with banking systems: To provide seamless data and transaction

transmission between the mobile banking application and the core banking
systems, integration with banking systems is required.

Implement security and compliance features: To guarantee that customer data and
transactions are secure, implement the essential security and compliance features,
such as two-factor authentication, biometric authentication, encryption, and data
privacy protections.

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Conduct user acceptability testing to make sure that the programme satisfies user
expectations and offers a smooth user experience.

Launch the app: After it has through extensive testing and validation, the app
should be launched on the app stores and promoted to draw in users.

Assist with continuous maintenance and support to keep the application safe, up
to date, and error-free. Assist with ongoing maintenance and support.

In conclusion, the methodology for developing a mobile banking application

entails defining the scope and requirements, performing research and analysis,
designing the user interface, creating the application, integrating it with banking
systems, putting security and compliance features in place, performing user
acceptance testing, releasing the application, and offering ongoing maintenance
and support. By using this process, banks may create a mobile banking
application that satisfies client expectations and offers the essential security and
compliance capabilities.

1.4.1 Hardware:-

The hardware and operating system of a mobile device determine the minimal
specifications needed for a mobile application to function. The prerequisites for
the two most widely used mobile operating systems are as follows:

Android: A mobile device must have an Android operating system version of 4.4
or higher in order to execute an Android application. The computer should have
8GB of internal storage and at least 1GB of RAM. It must support OpenGL ES
2.0 graphics and have a screen resolution of at least 320 x 480 pixels.

iOS: A mobile device must have iOS 9.0 or later in order to launch an iOS
application. A minimum of 1GB of RAM and 16GB of internal storage are

12
required. It must support OpenGL ES 2.0 graphics and have a screen resolution of
at least 640 x 960 pixels.

In addition to meeting these minimal software and hardware specifications, the

mobile application should be tuned for speed and usability across a range of
gadgets. Making sure the programme is responsive and functions properly on
gadgets with various screen sizes and resolutions is part of this. Additionally, the
application needs to be battery-life optimised and shouldn't use up too much of
the mobile device's battery.

In order to make sure the mobile application satisfies the criteria and offers a
smooth user experience, it should lastly be carefully tested on a number of
devices. The mobile application may improve the user experience and draw in
more people by fulfilling the basic criteria and optimizing the programme for
speed and usability.

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 CHAPTER-2

2.1 Requirements

To create a functioning, secure, and user-friendly mobile banking application, a

mix of tools and technologies is needed. A few of the tools and technology
needed to create a mobile banking application are listed below:

Platform for developing mobile apps: A platform for developing mobile

applications offers resources and tools for creating and testing mobile
applications. Platforms for creating mobile apps include Xcode, Xamarin, and
Android Studio.

Programming languages: Depending on the platform, several programming

languages are used to create mobile banking applications. Java or Kotlin are used
as the main programming languages for Android apps, whereas Swift or
Objective-C are used for iOS apps.

Tools for user interface design: Designers utilize programmes like Sketch, Adobe
XD, and Figma to create the user interface for the mobile banking application.
These resources aid designers in producing aesthetically beautiful, user-friendly
layouts for application interfaces.

Backend development tools: Depending on the platform, the backend

development of the mobile banking application requires technologies like
Node.js, Ruby on Rails, or PHP. The server-side components of the programme
are created and managed by developers with the aid of these technologies.

Application Programming Interfaces (APIs): APIs allow for communication

between financial systems and mobile applications. Developers may create safe,

14
quick, and seamless data transmission and transaction processing between their
applications and financial systems with the use of APIs.

Cloud storage solutions: For mobile banking apps, cloud storage solutions like
Amazon Web Services (AWS) or Microsoft Azure offer safe and scalable data
management.

Tools for security and compliance: Robust security and compliance elements are
needed for mobile banking apps. Secure access and authentication techniques are
provided for the application through tools like SSL, OAuth, and OAuth2.

Using testing and debugging tools, such as TestFlight, Firebase Test Lab, or
Android Debug Bridge (ADB), developers may make sure their applications are
free of defects and mistakes.

In conclusion, creating a mobile banking application requires a variety of tools

and technologies, including platforms for developing mobile apps, programming
languages, tools for designing user interfaces, tools for developing backends,
APIs, cloud storage services, security and compliance tools, and tools for testing
and debugging. These technologies enable programmers to build strong, user-
friendly mobile banking applications that satisfy the needs of both users and
banking regulations.

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 CHAPTER 3

System Development

3.1 System Overview

The goal of Shivalik Small Finance Bank is to use React Native technology to
create a mobile banking application.
Both current bank clients and new bank customers will be served by the
application. The programme must provide a rich user experience to keep people
interested.
The app will enable remote banking, financial management, and product
availability, 24-hour availability, time savings, and effective and efficient
transaction monitoring.
Users of Android and iPhone devices may get the programme from the Play Store
and AppStore, respectively.
Following are the feature modules which shall be covered to ensure that a
minimum viable product has been achieved:

• Pre-Login
• Registration
• Login
• Customer Care
• Dashboard
• Beneficiary
• Fund Transfer
• Term Deposits
• Services
• Information
• Add on Services
• Account Opening

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• Cheque
• Debit Cards
• Profile
• Reports
• Admin
• API's

3.2 System Algorithm

The primary components that have been used to make this build a possibility are
Figma,React Native, Postman, Databases etc.

When creating a mobile banking application, key tools like Figma, React Native,
Postman, and databases are essential. Each of these tools helps with the
development process in the following ways:

Figma: Figma is a tool for user interface design that aids designers in producing
aesthetically pleasing, intuitive layouts for application interfaces. It enables
collaborative collaboration among designers, sharing of designs, and real-time
feedback. In order to expedite the creative process, Figma also offers a large
selection of design materials including templates, icons, and fonts.

React Native: React Native is a framework for creating mobile apps that allows
programmers to create cross-platform mobile applications from a single codebase.
It cuts down on the time and effort required for development by enabling
JavaScript to be used to create native mobile applications for both iOS and
Android platforms. A variety of pre-built components and APIs are also available
from React Native that may be utilised to build a seamless user interface.
Developers may design and test APIs for the mobile banking application using
Postman, an API testing and development tool. It offers a user-friendly interface

17
for testing API endpoints, making any problems that may develop simpler to
debug and resolve. Developers may also distribute their APIs to other team
members and stakeholders via Postman.

Databases: A vital part of any mobile banking application are databases. They
maintain user data, transaction records, and other important data in storage.
Applications for mobile banking frequently employ the database technologies
MySQL, MongoDB, and Firebase. By offering features like data backups and
encryption, databases also play a significant part in guaranteeing the security and
integrity of user data.

In conclusion, databases, React Native, Postman, and Figma are essential

technologies for creating mobile banking applications. The creation of user-
friendly layouts is made possible by Figma, the development of cross-platform
apps is made possible by React Native, the testing and development of APIs is
made possible by Postman, and the management of user data is made secure and
dependable by databases. Developers may produce a strong and user-friendly
mobile banking application that satisfies the requirements of both users and the
banking sector by successfully using these resources.

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3.3 System Design

i) Registration:-

The registration process goes through the steps mentioned below

● Sim binding
● Selecting the way of Registration
● All the methods having their own process of detail filling
● OTP verification
● Aadhaar Card verification
● Temporary Pin verification
● Mobile number verification
● m-Pin creation
● Biometric enablement

Working:-
Sim binding: The user's mobile number and bank account are connected during
the sim binding process. This makes sure that only the mobile number that is
registered may use the mobile banking application linked to that bank account.
The user may choose from a number of registration alternatives, including self-
registration using the mobile banking application itself, online registration, and
bank branches.
complete details The user must provide their personal information, including
name, address, date of birth, and other necessary data, regardless of the
registration method they choose. This step might involve submitting the necessary
data online or at the local bank location.
OTP confirmation: Following the completion of the personal information, an OTP
(One-Time Password) is given to the provided mobile number for confirmation.
To confirm their cellphone number, the user must input the obtained OTP.
Verification of the Aadhaar Card: The mobile banking application may

19
occasionally ask for Aadhaar Card verification. The user must validate their entry
using their registered cellphone number and their Aadhaar Card number.

Fig 5. The registration process to be followed in the application

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Verification with a temporary PIN: A temporary PIN may be produced and sent to
the registered cellphone number in order to further verify the user's identity. For
verification, the user must enter the temporary PIN.Verification of the user's
mobile number: As an extra measure of security, the user's mobile number may be
validated by entering a verification link or code.
Create an m-PIN: The user is requested to do so when all verifications have been
performed successfully. An m-PIN is a mobile personal identification
number. The mobile banking application will employ the m-PIN, a secure
numeric code, for future login and transaction authentication.
Biometric authentication: For increased security and convenience during login
and transactions, it may be possible to activate biometric authentication, such as
fingerprint or face recognition, depending on the capabilities of the user's mobile
device.This safeguards the user's financial information and aids in preserving the
security and integrity of the mobile banking application.

ii) Beneficiary Transfer Method

When using mobile banking, users may safely and simply send money to other
people or organizations via the beneficiary transfer method. For upcoming
transactions, it offers a simpler procedure for maintaining and adding
beneficiaries. The beneficiary transfer mechanism in mobile banking is described
as follows:
Adding a beneficiary: Users must enter the beneficiary's information into their
mobile banking application in order to start a transfer. The beneficiary's name,
bank account number, bank name, and branch information are often included.
Users can add beneficiaries using their cell numbers or email addresses in some
mobile banking services.
Verification: The mobile banking application validates the beneficiary
information when it is submitted to make sure it is accurate. Verifying the bank

21
account number, looking for the account in the bank's database, or conducting
real-time validations.
Users are often asked to approve the inclusion of a beneficiary in order to protect
the security of financial transactions. One-Time Passwords (OTPs), which are
texted to the registered cellphone number, or biometric authentication can be used
to do this.
Account validation: Prior to adding a beneficiary, users of the mobile banking
application could occasionally be asked to authenticate their own accounts. In
order to prevent unauthorized users from starting financial transfers, this is done.
Beneficiary activation: The mobile banking application makes the beneficiary
available for future transfers once the beneficiary information has been added and
confirmed. Within the application, users may view and manage their list of
beneficiaries.
Users must first choose the recipient from their list of options before entering the
amount to be transferred to them. Users might be able to provide a description or
reference for the transfer depending on the mobile banking application.
Security and authorization: Users are often needed to approve the transaction
through extra security procedures before the transfer is performed. This can be
done by inputting an OTP, employing biometric authentication, or entering an m-
PIN (Mobile Personal Identification Number).

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 Fig 6. Beneficiary Transfer Process

Transfer confirmation: The mobile banking application starts the transfer when
the authorisation is finished. A message or notification informing users that the
transfer was successful is sent.
Transaction history: The mobile banking application keeps track of all
transactions, enabling users to follow their transfers and examine information like
the date of the transaction, the name of the beneficiary, and the amount of the
transfer.

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The beneficiary transfer technique in mobile banking makes it easier to send
money to other people or organizations. Users may manage and authorize
transactions in a safe and practical way with its help, ensuring that transfers are
carried out precisely and quickly.

iii) Debit Card Login Method

Fig 7. Debit Card process for login

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The Debit Card login process consists of the user entering the 16 digit Debit Card
Number, the expiry month and year and the ATM pin. The validation occurs via
an OTP process which confirms and checks for the account details and mobile
number. The user can configure the m-Pin and sign up for mobile banking
services when the verifications are complete.

iv) Account Statement Generation Method

Fig 8. The Account Statement Generation Process Flow

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Users may access and examine comprehensive information about their banking
operations and account activities using the account statement production
technique in mobile banking. It offers consumers a convenient method to monitor
their expenditures, analyse their financial data, and balance their accounts.
Account selection: Customers can use the mobile banking application to pick the
particular account for which they want to produce an account statement. Any
account linked to their mobile banking login is affected by this, including credit
card accounts, checking accounts, savings accounts, and others.
The date range that the user wants to view on the account statement is selectable.
To fit their needs, clients may change the date range or choose to produce
statements for a month, quarter, or year, for instance.Statement generating: Users
can start the account statement generation process after choosing the account, date
range, and format. The mobile banking application connects to the appropriate
banking system and receives the transaction data for the selected account during
the defined time frame.
Data processing and compilation: The mobile banking application creates a
detailed account statement from the collected transaction data after processing it.
This entails categorizing the transactions according to the date, kind, amount, and
other pertinent information.
Account holder name, account number, starting and closing balances, and any
other pertinent information regarding the specified period are normally included
in the summary information section of the account statement.
Transaction information: The account statement includes a thorough explanation
of each transaction that took place within the specified time period. This contains
details such as transaction dates, kinds (such as deposits, withdrawals, and
transfers), descriptions, and amounts.Users may select how they wish to receive
their account statements when they are created. The options may include sending
the statement to a registered email address, downloading it immediately to the
mobile device, or safely saving it within the mobile banking application for later
access.

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Users who utilise mobile banking have easy access to their financial information
thanks to the account statement production mechanism. Mobile banking software
enable users to keep track of their accounts and maintain accurate financial
records while on the move by providing customisable date ranges, several
statement formats, and thorough transaction data.

v) Quick Transfer (IMPS) Process

Fig 9. Quick Transfer process (IMPS) flow

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Users may immediately and securely transfer money using the popular payment
technique known as the Immediate Payment Service (IMPS) in mobile banking.
Person-to-person (P2P) and person-to-merchant (P2M) transactions are made easy
and swiftly possible.

Beneficiary addition: In order to send money via IMPS, users must include the
beneficiary's information, including name, bank account number, and Indian
Financial System Code (IFSC) of the receiving bank. This procedure makes sure
that the beneficiary has permission to receive the payments.

Starting the transaction: After adding the beneficiary, customers may use their
mobile banking application to start an IMPS transaction. They choose the
beneficiary, input the transfer amount, and include any other information that is
necessary.

Validation of transactions: The mobile banking application verifies the specifics

of the transaction and determines if the user has enough money in their account to
cover the transfer.

Authorization: Using their m-PIN or other available security measures, users must
verify the transaction's authenticity. This process guarantees the transaction's
security and guards against unauthorized access.

Transferring money: Following authorisation, the mobile banking application

interacts with the bank's systems to enable a quick transfer of money from the
user's account to the beneficiary's account. Since the transaction is handled in
real-time, the receiver will have access to the funds right away.
Users receive a transaction confirmation on their mobile banking application as
soon as the transfer is finished. The transaction reference number, date, time, and
transfer amount are normally included in this confirmation.

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Transaction history: By maintaining a transaction history, the mobile banking
application enables users to look back on and follow their IMPS transactions. For
the purpose of reference and reconciliation, this history offers a record of previous
transfers. Users of mobile banking have access to a quick, safe, and real-time fund
transfer option thanks to the IMPS procedure. Due to its immediate nature, it is
appropriate for many use cases, including bill payments, online shopping, and
more. Users may easily start and finish IMPS transactions by utilising the mobile
banking application and following the required authentication procedures.

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vi) Fund Transfer (RTGS) Process

Fig 10. Fund Transfer (RTGS flow)

A payment system called Real-Time Gross Settlement (RTGS) enables both

private persons and commercial entities to perform time-sensitive, high-value

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financial transfers in real time. It is frequently applied in mobile banking to
speedily and securely enable high-value transactions.

Beneficiary addition: Users must add the beneficiary's information in order to

make an RTGS payment. This information must include the beneficiary's name,
bank account number, and Indian Financial System Code (IFSC) for the
beneficiary bank. This procedure makes sure that the beneficiary has permission
to receive the payments.

Starting the transaction: After adding the beneficiary, customers may use their
mobile banking application to start an RTGS transaction. They list the
beneficiary, input the transfer amount, and provide any other necessary details,
such the notes or the reason.

Validation of the transaction: The mobile banking application verifies the

transaction information, including whether there are enough funds in the user's
account to carry out the transfer. It confirms the correctness of beneficiary
information and guarantees adherence to RTGS regulations.

Authorization: In order to authorise the transfer, users must authenticate the

transaction using their m-PIN or other available security mechanisms. By taking
this action, further security is added and unauthorised access is avoided.
When a transaction is approved, the mobile banking application connects to the
bank's systems to start the RTGS payment. The beneficiary receives the cash right
away since they are moved in real-time from the user's account to their account.

Confirmation: Users receive a transaction confirmation on their mobile banking

application once the transfer has been successfully completed. The transaction
reference number, date, time, transfer amount, and beneficiary information are
normally included in this confirmation.

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Transaction history: By maintaining a transaction history, the mobile banking
application enables users to look back on and follow their RTGS transactions.
This history offers a record of previous transfers for use in comparison,
reconciliation, and ongoing oversight.
Users of mobile banking may send and receive high-value funds swiftly and
securely thanks to the RTGS procedure. Users may easily begin and finish RTGS
transactions by using the mobile banking application and following the required
authentication procedures, guaranteeing quick and accurate money transfers.

vii) Fund Transfer (NEFT) Process

Fig 11. Fund Transfer (NEFT process) flow

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A well-known electronic payment system called the National Electronic Funds
move (NEFT) makes it possible for people and companies to move money
between bank accounts in a safe and practical way. It is frequently used in mobile
banking to enable flexible scheduling for transactions.

Beneficiary addition: In order to send a NEFT payment, users must provide the
beneficiary's information, which must include the recipient's name, bank account
number, and Indian Financial System Code (IFSC) of the recipient bank. This
procedure makes sure that the beneficiary has permission to receive the payments.

Beginning a transaction: After adding the beneficiary, customers may utilise their
mobile banking application to start a NEFT transaction. They list the beneficiary,
input the transfer amount, and provide any other necessary details, such the notes
or the reason.
Validation of the transaction: The mobile banking application verifies the
transaction information, including whether there are enough funds in the user's
account to carry out the transfer. It confirms the validity of beneficiary
information and guarantees adherence to NEFT regulations.

Authorization: In order to authorise the transfer, users must authenticate the

transaction using their m-PIN or other available security mechanisms. By taking
this action, further security is added and unauthorised access is avoided.
Initiation of the fund transfer: After the transaction is approved, the mobile
banking application connects to the bank's servers to start the NEFT payment.
Through the safe NEFT network, the monies are sent from the user's account to
the beneficiary's account.
NEFT transactions are handled in batches throughout the day, allowing for
numerous settlement cycles during the settlement procedure. The transaction is
submitted to the bank's settlement system via the mobile banking application,
which also initiates the financial transfers and aggregates the transactions.

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Confirmation: Users receive a transaction confirmation on their mobile banking
application when the NEFT transfer is finished. The transaction reference number,
date, time, transfer amount, and beneficiary information are normally included in
this confirmation.

Transaction history: By maintaining a transaction history, the mobile banking

application enables users to look back on and follow their NEFT transactions.
This history offers a record of previous transfers for use in comparison,
reconciliation, and ongoing oversight.

Users of mobile banking have access to a quick and safe way to transfer money
between bank accounts thanks to the NEFT procedure. Users may simply begin
and finish NEFT transactions by using the mobile banking application and
adhering to the required authentication procedures, guaranteeing a reliable and
effective transfer of money.

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3.4 System Implementation

To give users of mobile banking applications and digital banking a safe,

convenient, and effective experience, numerous crucial measures and
considerations must be taken. An outline of the implementation procedure is
provided below:

● Understand the unique needs of the mobile banking application and the
digital banking platform by doing a requirement analysis. Determine the
target market, the needed features, the security procedures, and the
integration needs with the current financial systems.

● Technology Stack Selection: Based on platform needs, scalability,

security, and user experience factors, select the best technology stack. For
cross-platform development or native development for particular systems,
common technologies include React Native or Flutter.

● User Interface Design: Create a user-friendly user interface with an

emphasis on simplicity, simple navigation, and responsive design for
various devices for the mobile banking application. To visualise the
application flow and get input from stakeholders, use wireframing and
prototyping tools.

● Construction: Create the mobile banking app using the chosen technology
stack. Implement functionality including user sign-up, login, account
dashboard, transaction history, money transfers, bill payment, and other
pertinent elements. To safeguard user data, use secure coding guidelines
and encryption standards.

● Integrate the mobile banking application with the industry's current

payment gateways, customer databases, core banking systems, and other

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 financial software. Make sure that the mobile application and backend
systems synchronise data seamlessly and get changes in real time.
● Implement strong security measures to protect client information and
transactions. To reduce risks and make sure you are in compliance with
industry requirements, use encryption techniques, secure communication
protocols (such HTTPS), two-factor authentication, biometric
authentication, and routine security audits.

● Testing: Perform in-depth testing to find and fix any functional or

usability problems. Test the mobile banking application end-to-end, in
units, and with integration to make sure it works as it should and offers a
smooth user experience.

● Prepare the mobile banking app for release on app marketplaces, such as
the Apple App Store and Google Play Store. Follow the platform-specific
submission procedures and criteria to have your app approved by the app
store.

● Continuous Monitoring and Maintenance: Keep an eye on the

performance, security, and usability of the mobile banking application.
Update the programme often with new features, security updates, and bug
fixes. To develop and enhance a product based on client demands, collect
user feedback.

● Provide thorough customer service channels, such as helplines, chatbots,

and FAQs. Also provide customer training. To instruct consumers on how
to use the mobile banking app and digital banking services successfully,
hold training sessions or write user guides.

For clients to have a smooth and safe banking experience, the implementation of a
mobile banking application and digital banking involves careful planning,

36
development, and integration. Banks may provide their clients practical and
effective digital banking solutions by adhering to industry best practises and
maintaining current with new technology and security regulations.

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 CHAPTER 4

Performance Ananlysis

4.1 Analysis

Given that the user has downloaded the Shivalik Mobile app from Playstore/
Appstore,
• When the user views the splash screens and gives consent to the required
permissions (like location access, phone/SMS access, etc.)

• Then the user shall be able to select preferred language out of English(default)
and Hindi, and shall proceed on to registration. Given that user has proceeded on
the registration screen,
• When the user shall be asked if they are existing Shivalik Bank customers.

• Then the user shall go through the following journey if they select the yes
option. Given the user is ETB, the user shall see the mobile number selection
screen.
• When the user comes on the mobile number selection screen,
• Then the app will auto detect the mobile numbers in the device along with their
respective network providers.

• Then the user must select the mobile number linked with the Shivalik bank
account through the use of radio buttons, and click on the proceed button.
1. The SIM binding activity shall take place at the back-end.
2. The mobile number has to be validated from the Bank's customer
database to authenticate the user as ETB.
3. If the mobile number isn’t available in the bank's database, the user
shall be redirected to an error screen where a message will be showcased

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 “The selected mobile number isn’t registered with us. Please approach
your base branch to update your number”.

Given the user is on the abovementioned error screen, two options shall be
available:
• When the user selects the “Select another number” button,
• Then the user shall be redirected to the mobile number selection screen.
• When the user selects the “I am not a Shivalik Bank Customer” button,
• Then the user shall be recognized as NTB, and will go through the NTB journey.

Fig 12. The First Page of the Application

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After the user’s basic setup (ETB/NTB, mobile number selection, SIM binding),
the user shall have to choose and go through registration process by selecting one
of the following modes:
1. Registration through Debit Card.
2. Registration through Aadhar number.
3. Registration through Branch.

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 Fig 13. The Splash screen to choose the Registration method

As a registered ETB user, I shall log-in the application using

mPIN/Biometrics, so that I can view the dashboard screen and
navigate further.
Given the user has logged in successfully,

• Then the user shall be navigated to post-login/

Dashboard screen.

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• Then the user could view/access the following
sections:

• Quick Balance
• Debit Card: card last 4 digits and name always visible, OTP
verification to view actual details, swipe left to view multiple cards(
if any)
• Fund transfer

• Open FD/RD

• Account statements

• My Accounts

• Offers

• Favorite transactions

• Manage Beneficiary

• Apply Loans (next phase)

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 Fig 14. Post-Login page of the app

Given that the user opts for registration through Branch option,
• When the user selects such option
• Then the user shall view the steps for opting mPIN from the branch. The user
shall click on the “I have received temporary pin” option.
Given that one mobile number may be linked to more than one Customer
ID(CIF).
• When multiple CIFs are linked to a single mobile number,
• Then the Customer ID field shall be manually entered by the user.
• When single CIF is linked to single mobile number,

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• Then the Customer ID field shall be prefilled and uneditable.
Given that ETB authentication is successful and sim binding process
is complete,
• When the user selects registration through branch card option,
• Then the user shall have to enter/ view the following details mandatorily:
1. The Customer ID (shall be prefilled/ editable as the case may be)
2. 4 digits of temporary mPIN received on mobile. (Only numeric
keyboard should be shown here)
The temporary mPIN shall be created through admin module, and shall
be valid for 48 hours.

Fig 15. Setting up page of Temporary Pin

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Given the user has logged in successfully,

• Then the user shall be navigated to post-login/

Dashboard screen. • Then the user could view/access
the following sections:
• Quick Balance
• Debit Card: card last 4 digits and name always visible, OTP
verification to view actual details, swipe left to view multiple cards(
if any)
• Fund transfer

• Open FD/RD

• Account statements

• My Accounts

• Offers

• Favourite transactions

• Manage Beneficiary

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 Fig 16. Balance view page in the application

Given that the user has navigated inside the account

statements section, When the user is inside particular tab
(savings/ current/ deposits/loan), then the user shall be
asked to select default account (only in case user has
multiple accounts of single account type)

When the user has selected the account,then the respective

account balance, account number, last 30 transactions shall
be visible.

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 1. Current Month total debits and credits shall be visible in case of
Savings and Current type tab.
2. The last 30 transaction shall mention the date, amount, debit/
credit and narration.

When the user clicks on Filter icon,

Then the user can opt for following filter functionalities:
o Date: Last week/month/ 3 months
o Amount: Low to High/ High to Low
o Transfer type: debit/ credit
o Time period: Start and End date (maximum 2 years)
o Amount
When the filter is applied, then the search results shall get 90 transactions from
CBS and show results according to the filter.
In case the selected date range has more than 90 transactions, only then an
information icon will show that “transaction count exceeds 90 transactions,
generate statement to get all details emailed”.
Given that the user wants to generate statement
When the user clicks on generate Statement button,
Then the user shall have to choose periodicity out of
o Last month
o Last quarter
o Last Financial Year
o Custom date (validation: period of not more than 2 years can be
chosen at the same time)
When the user has selected the required periodicity,
Then the user shall click on email statement.

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 Fig 17. The account statement page for term deposit in the application

As a registered logged in ETB user, I want to transfer funds successfully and

safely.
Given that the user has opted for the fund transfer
• Then the user shall have to choose from the following options:
o Quick Transfer
o Transfer to Beneficiaries
o Manage Beneficiaries
o My Shivalik A/c’s
o Scheduled Transfers

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 Fig 18. Account statement page for savings in the application

Given that the user has opted for the add/manage/transfer

to beneficiary, Then the user shall follow the journey
explained in flow diagram above.
1. Transfer type can be IMPS/ RTGS/ NEFT.
2. Schedule transfer can only be made through RTGS/ NEFT, so if IMPS
is chosen, then the schedule transfer icon shall get disabled.
3. When Beneficiary holds account with Shivalik bank ( Winjit team shall
recognise this through IFSC, then transfer type shall not be chosen,
directly transfer within Shivalik bank’s API shall be used)

49
4. Whenever new Beneficiary is added, cooling period shall be for 30
minutes, i.e., user cannot make any payment (IMPS/ RTGS/ NEFT)
for 30 minutes.
5. New beneficiary: name and Nickname: alphanumeric, 25 characters,
no special characters.
6. Nickname shall be shown on the base screen of Transfer/manage
beneficiaries.
7. Once beneficiary is added, also when cooling period is over: the
customer shall be sent an SMS.
8. Edit beneficiary shall allow the user to edit only the nick name of
beneficiary.

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Fig 19. Landing page for term deposit opening page

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 Fig 20. Login Page in the application

Given that the user clicks on My Shivalik A/c’s

When the user is displayed with their list of accounts under the CIF
Then the user shall choose the account where they wish to transfer funds to
When the user shall enter the amount, remarks, schedule (if any) (Note: no
radio buttons for selection of transfer type like IMPS/RTGS/NEFT) to be
given here)
Then the user shall select the account from which the transfer is to be made.
When the confirmation and OTP verification is successful, such
transfer within CIF is successful

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1. The account from which transfer is to be made, and account to which
transfer is to be made cannot be the same.
2. When transfer is made to loan account, then the amount should be
minimum 100 Rs., and shall not exceed the Overdue amount+ One
advance EMI.
3. No limit for transaction within CIF (except loan).

Fig 21. Debit Card registration page

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 Fig 22. Aadhaar Card Login Method

As a registered logged in ETB user, I wish to schedule transfers/

view upcoming scheduled transfers.
Given the user clicks on scheduled transfer,
Then the user can choose to schedule new transfer or view
scheduled transfers. When the user clicks to view scheduled
transfer,
Then the user shall view the listing of transfers which are already scheduled
by them and are upcoming:
One time: Beneficiary name, transfer date (in order of next), amount.
Recurring: Beneficiary name, next transfer date, last transfer date,
frequency amount.

54
Then user can also stop a scheduled transfer by clicking on stop icon and
going through successful OTP verification.
When the user clicks to schedule new transfer,
Then the user shall select the beneficiary, amount, transfer type
(NEFT/RTGS), Then the user shall confirm scheduling details:
If One time: transfer date (date period shall be from next day till 1 year)
If Recurring: frequency (weekly, fortnightly, monthly, quarterly, half-
yearly), first transfer date, number of transfers. (Winjit team shall calculate
the last transfer date) (maximum last date can be till 1 year, validation to be
put, i.e. user can schedule a recurring transfer only till 1 year from current
date)
When the scheduling confirmations are made,
Then the user shall choose the account through which transfer to be made,
this screen shall only be applicable when there are multiple accounts.

Fig 23. Branch Login method using temporary Pin

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4.2 Performance Requirements

To provide a seamless and effective user experience, mobile banking applications

must meet strict performance criteria. To handle user interactions efficiently, the
application should have quick reaction times, quick loading times, and little
latency. It need to be able to manage several concurrent users without
experiencing performance reduction. To give users accurate and current
information, the application should also have effective data synchronisation and
real-time updates. In order to ensure compatibility and responsiveness across
multiple mobile platforms, the mobile banking application should also be
optimised for various devices and screen sizes. By ensuring that customers can
quickly and easily access their financial services, meeting these performance
standards improves their overall happiness with the mobile banking experience.

4.3 Security Requirements

When it comes to a mobile banking application, security is crucial. To safeguard

private user information and stop unauthorised access, the application must
adhere to strict security standards. To make sure that only authorised users can
access their accounts, it should adopt strong authentication methods like two-
factor authentication, biometric authentication, or secure login credentials. Strong
encryption methods should be used by the mobile banking application to protect
data transit between the application and the server, preventing interception or
manipulation. In order to safeguard user data on the device, such as account
information and transaction history, it should also employ secure storage
procedures. To find and close any security gaps, routine security audits,
vulnerability assessments, and penetration testing should be carried out. The
mobile banking application may boost user confidence by upholding stringent
security standards, safeguarding the confidentiality and integrity of their financial
activities.

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 CHAPTER 5

5.1 CONCLUSIONS

In summary, a mobile banking app is a potent tool that gives consumers

efficiency, accessibility, and convenience while managing their money. The
criteria for performance, security, and user experience must be carefully
considered for the effective deployment of a mobile banking application. The
programme may provide a smooth and user-friendly experience by guaranteeing
quick response times, effective data synchronisation, and interoperability with
different devices. Furthermore, putting strong security measures in place helps
safeguard sensitive user data and fosters confidence in the programme. These
measures include strong authentication procedures, data encryption, and frequent
security audits. In light of these factors, a well-thought-out and secure mobile
banking application may revolutionise how users interact with their money by
providing them with a dependable and easy banking experience while on the go.

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