safebank-fe

Minimum Viable Product (MVP)

The MVP for IE Bank focuses on delivering a secure, user-friendly, and scalable digital banking platform. This initial version will serve as the foundation for core banking activities, aligning with rigorous security, performance, and compliance standards while addressing key business objectives.

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Business Goals

1. Acquire Early Users:
   • Launch the platform with a goal of onboarding 1,000 active users within the first 3 months.
   • Offer seamless registration and onboarding processes to encourage adoption.
2. Enhance Customer Trust and Satisfaction:
   • Build user confidence through secure and transparent banking operations.
   • Achieve an 80% satisfaction score based on ease of use, reliability, and security.
3. Reduce Operational Costs:
   • Automate key banking functions (e.g., account creation, money transfers) to decrease manual intervention.
   • Target 20% reduction in admin overhead for managing user accounts.
4. Lay the Groundwork for Future Growth:
   • Design a scalable architecture to support additional services such as credit facilities, mobile banking, and third-party integrations.
   • Establish the technical foundation to support 10,000+ concurrent users by Year 2.
5. Demonstrate Competitive Differentiation:
   • Highlight superior security features (e.g., SHA-256 hashing, encrypted sessions) and ease of use compared to competitors.
   • Ensure compliance with global standards (e.g., GDPR) to position IE Bank as a leader in digital banking.

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Core Functional Requirements

1. Landing Page and Navigation:
   • A responsive landing page with three key options:
     • New User: Registration and onboarding.
     • Log In: Access for existing users.
     • I am an Admin: Secure access to the admin portal.
   • Clear and intuitive navigation ensures a seamless user experience.
2. User Registration and Profile Creation:
   • Allow new users to register with basic details (name, email, username, and password).
   • Automatically generate unique bank account numbers upon successful registration.
   • Implement email verification or OTP to ensure user authenticity.
3. Account Management Portal:
   • Enable users to:
     • View account details, balances, and transaction histories.
     • Download statements in PDF or CSV format.
     • Perform essential actions such as updating personal details securely.
   • Secure login with encrypted credentials ensures data protection.
4. Admin User Management:
   • Admin portal with capabilities to:
     • Create, view, update, and delete user accounts.
     • Access detailed logs for user activity (e.g., money transfers, profile updates).
     • Monitor and terminate suspicious user sessions.
5. Money Transfer Capability:
   • Secure, real-time fund transfers with validation checks:
     • Ensure sufficient balance before initiating transactions.
     • Notify users of successful or failed transfers.
   • Backend ready for integration with third-party payment APIs.
6. Session Management and Security:
   • Secure user sessions with features like:
     • Auto-logout after inactivity.
     • Encrypted sessions using SHA-256 hashing.
     • Protection against cross-site scripting (XSS) and cross-site request forgery (CSRF).

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Non-Functional Requirements

1. Authentication and Security:
   • All data transfers are encrypted using HTTPS with TLS 1.3.
   • Two-factor authentication (2FA) for admin accounts and optional for users.
2. Performance and Reliability:
   • Login and money transfer processes must complete in under 3 seconds.
   • Ensure 99% uptime, leveraging high-availability cloud architecture.
3. Scalability:
   • Infrastructure designed to handle 10,000 concurrent users during peak hours.
   • Autoscaling capabilities for handling traffic spikes.
4. Accessibility:
   • Meet WCAG 2.1 AA standards for user accessibility.
   • Support screen readers and provide keyboard navigation.
5. System Monitoring:
   • Use Azure Monitor for real-time tracking of system health.
   • Configure automated alerts for critical issues to enable proactive incident management.

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Documentation and Deployment

1. Documentation:
   • Host comprehensive product and technical documentation on GitHub Pages for team collaboration.
   • Include API documentation for future integrations and external developer use.
2. Deployment:
   • Implement a CI/CD pipeline using Azure DevOps.
   • Deploy the platform across Dev, QA, and Production environments with robust rollback strategies.

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Testing and Success Metrics

• Functional Testing:
  • Ensure seamless operation of all core functionalities (registration, login, transfers).
• Performance Testing:
  • Validate response times under normal and stress conditions.
• Security Testing:
  • Conduct vulnerability scans and penetration testing.
• User Acceptance Testing (UAT):
  • Onboard 50 pilot users, targeting a satisfaction score of 80%.
• Success Metrics:
  • Achieve 1,000 active users within the first quarter post-launch.
  • Less than 1% failure rate in transactions and logins.
  • Maintain 99% uptime during the MVP phase.

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Conclusion

This MVP balances technical deliverables with strategic business goals, ensuring a strong foundation for growth and customer satisfaction. By aligning functional capabilities with measurable outcomes, IE Bank is positioned to deliver value to users while maintaining a scalable and secure infrastructure.