E – Banking

         

The main aim of this project “E-BANKING” is to enable registered account holders to view their account details and to transfer amount from one account to another account. Customers can also view their transaction, which are made by them. The registered user will also be able to modify any personal details such as address or phone number.

The Functionalities provided by the project are as follows:

·        Account Opening: Application will have a facility to open Bank Account.

·        Transfer Amount between Accounts: Customer can transfer amounts between accounts.

·        Bill Payments: For every transaction of money from one Account to the other the entries should get into a ledger.

·        Utilities Provided by the system: The application will have a facilities like interest calculator and foreign exchange calculator.

PROJECT OVERVIEW

Introduction of Banking

Banks form a very important part in every individual’s life and also contribute significantly to the nation’s economy. The former primer minister

 Late Srimathi Indira Gandhi nationalized banking industry in India. Until a few years ago the nationalized banks dominated this industry. With the dawn of World Trade Organization (WTO) banking industry in India was liberalized. Foreign banks are now allowed to open their branches across the nation. The Indian entrepreneurs started new banks too. The increase in the number of players in the banking industry and the increase in the number of branches has led to the dependence on efficient technologies.

Banks offer a number of services to the customers within and outside the country. The need for better communication facilities also increased. Thus the solutions developed were required to handle transactions within and across the branches.

Primary activity of a bank is to offer savings account to the customers. But today many other services are offered to the public. Today, most of the banks provide facilities such as credit card, loans, fund transfer, tax payment, online banking, lockers and much more.

Account Types

There are different types of accounts maintained in a bank. They are

Ø Savings Account

Ø Current Account

Ø Credit Card

Ø Term Deposit and

Ø Recurring Deposit.

Savings Account

In a savings account, when money is deposited the amount is entered under deposits and when money is withdrawn the amount is entered under withdrawals. The description of the deposits and withdrawals are given along with the amount.

Current Account

A current account is similar to a savings account, but no interest is paid for a current account. Also there is no limit for the number of transactions.

Credit Card

The concept of credit card is familiar to almost all. Credit card holders can purchase the product of their choice and pay later. This transaction involves a lot of security issues. In credit card transactions total balance to be paid, individual transactions, minimum balance to be paid etc are required.

Term Deposits

In term deposits, customers can deposit their money for a fixed duration of time. Interest for the deposited amount can either be accumulated or withdrawn. Thus the customers can be ensured safe custody of their money along with interest for the same.

Recurring Deposit

In recurring deposit, customers pay a fixed amount every month for a fixed duration. The total deposited amount and the interest are paid together at the end of the duration.

Account Categories

Accounts are categorized on the basis of account holder(s). The different types of account categorized are

v Sole Account

v Joint Account and

v Custodial Account

Sole Account

In a sole account, only one person holds the account.

Joint Account

More than one person holds joint accounts. The account holders can either be business partners or family members.

Custodial Account

Custodial account is the account opened for minors. The guardian of minor operates the account. When the minor turns 18 the custodial account is transformed to sole account

Loans

Loans are a great boon for the middle class society. Issue of loans to the customers benefits banks. The loans are repaid with interest, which adds to the revenue of the bank. Advantage of loans to the customer is that it can be paid back in easy installments.

The different types of loans offered by banks are

·        Housing Loan

·        Loan against commercial building

·        Car Loan

·        Education Loan etc.

Bill Payment Services

Today many banks offer facilities for payment of bills. The customer can pay household bills such as electricity bill, telephone bills, water tax, income tax, property tax etc from their accounts using online payment facilities.

HARDWARE AND SOFTWARE REQUIREMENTS

HARDWARE REQUIREMENTS                              

PROCESSOR    :  Intel 2.0 GHz or above

HARD DISK     :  80 GB

RAM                 :    512 MB RAM.

   SOFTWARE REQUIREMENTS

OPERATING SYSTEM                     : WINDOWS XP with SP2. 

LANGUAGE (FRONT END)   : JAVA (JDK1.5/1.6)

SERVER                                     : APACHE TOMCAT 5.5/6.0

WEB TECHNOLOGY              : HTML, JAVASCRIPT, CSS.

DATABASE (BACK END)        : ORACLE 10G.

ARCHITECTURE                      : 3-TIER ARCHITECTURE.