Online Banking Portal Banking Services

Question: Discuss about the Online Banking Portal for Banking Service. Answer: Introduction Online banking refers to the use and access to the banking services over the internet. This mode of banking enables the customers to make use of a number of different banking components over the network which is the internet. There are a number of components that are involved with the online banking portal and it is required for the same to have an integration of proper elements to engage more and more customers (Alanazi, 2016). Design Model Online Banking Portal Design Model The design model of the online banking portal has been shown above which showcases the various functions and operations that will be performed along with the flow of the same between the various entities. User, Administrator and Database will be the three primary entities that will be present in the system. The user will be required to login to the system by entering a combination of a valid set of credentials which will be provided and monitored by the Administrator. The functions such as registration process, transaction activities, account opening procedure, load activities, feedback and many others will then be allowed to be performed by the user. There will be continuous update of the system database with every activity to maintain the atomicity and integrity of the system (Johnson, 2016). User Model Online Banking Portal User Model The user model of the online portal has been described above in the form of a use case model that comprises of four actors as the investor or the user, exchange service, analyst and the administrator of the system. Every actor will perform its own set of tasks and activities in association with the online banking system (Khan, 2016). Explanation of Components for Easy Navigation Login Functionality The home page of the online banking portal will showcase the login functionality for the bank that will ask the user to enter the already existing credentials in the form of user id and password or to register for the same. The page will also display the other information associated with the bank that will be general in nature such as information on the banking services that are offered, insurance services and premiums and many others. Account Openings and Transactions The online banking portal will have a number of different user types such as existing customer, new customer and guest. The users will be provided with the ability to open account in the bank in case of the absence of the same. For the account holders, there will be the features to perform related to the transaction such as transfer of funds, payment of bills and likewise. These transactions will simultaneously impact and update the database that will be synced with the online banking portal. Each of the account type and the transaction related operations will be listed and classified on the basis of categories, sub-categories and further categories to allow the users to navigate easily to the required area. For instance, the account type would be savings, current, demat and many others which will have sub-categories as personal users, corporate user and likewise (Khrais, 2016). Loan and insurance The user will be able to perform the activities associated with loan and insurance such as applying for the loans, paying the premiums, calculation of the interest and many others. The portal will showcase all of these functionalities under the insurance category on the portal to allow the users to understand and navigate through the same with ease. Assistance and Feedback There are a number of instances where the user might get stuck with a technical capability or an operational feature present on the portal. There will be an option for assistance by an expert on a 24x7 basis which would allow the user to contact the expert for the purpose of query solving and asking for help. The users will also be allowed to provide the feedback related to any of the offered service and the same would be done through various components present on the portal such as message, email or through contact on the provided phone numbers (Kumar, 2016). Already Existing Programs There are a number of programs that are already available on the online banking portal of the bank that have their own set of strengths and weaknesses. The programs include the availability of large sets of data and information on the bank along with the listing of basic banking operations and the ability for the users to log in and log out of the application to execute various banking activities such as viewing the balance, transfer of funds, application for the credit card and many others. Strengths There are a number of strengths that are associated with the already existing programs in terms of the availability of the information associated with the online banking. There is a lot of information that the users can have access to and read through to understand the services that are offered and the details that are associated with every service and application. There is also the ability that is provided to the users to perform the basic banking services on the internet without the need to visit the banks for any of the activity. Weaknesses There are also a number of weaknesses that are associated with the system. The first and the foremost is the improper organization of the information. There is a lot of information that is available on the portal but the same has not been organized well which causes a number of problems and confusions for the users as they find it troublesome to locate a particular piece of information on the portal. Another weakness that is associated with the current set of programs is in terms of the security and privacy mechanisms. The login functionality along with the security of the portal as a whole does not include a strong security infrastructure. There is absence of multi layer authentication, single sign on and many other necessary security elements that must be present (Norman, 2016). Most Effective Method for User Interface Design User interface is a prime element of the online banking portal and must take care of the entire look and feel of the portal along with the set of non-functional requirements such as usability, readability, performance, usability and likewise. Layout The layout that must be followed for a better user interface design must be kept simple and consistent all throughout. The layout shall have the sections as header, menu, body and footer in which there must only be the body section that should vary from one page to the other and the rest of them must be kept consistent all throughout. Colors and Theme The colors and themes that should be utilized on the online banking portal must not be extremely bright or dull and should maintain a decent mix of both. The theme of the portal would be online banking and therefore the color scheme should be subtle and soothing to the eyes. Also, there must not be use of too many colors on the portal as it may not attract the user for a longer period of time and would also make the text and other elements difficult to read and locate. Responsive Design It is an essential element of the user interface and the development process that must be considered for the online portal as it will allow the users to have the required behavior from the portal. There will be auto adjustments done as per the user behavior in terms of alignment, sizing and likewise. The design will respond as per the user choices and preferences (Shah Clarke, 2016). Conclusion and Recommendations The online banking portal will have a huge number of users that will access the portal simultaneously. There must be no performance issues that may appear in front of the users in terms of the turnaround time, response time and other performance measures. The portal must be designed in such a manner that it may be capable enough to withstand huge amount of traffic with ease. There are a number of elements that will be involved in the portal and therefore the layout and design must be kept simple and must be organized well. The placement of the elements must be done in such a manner that there are no spacing and sizing issues on any of the platform as desktop or mobile. The online portal must provide the required set of services and applications to the customers along with the presence of strong security mechanisms. The user interface must be designed so that the users feel connected with the portal and also become able to utilize all of the features and functionalities with much ease . References Alanazi, H. (2016). On the Module of Internet Banking System. Retrieved 1 October 2016, from https://arxiv.org/ftp/arxiv/papers/1005/1005.4029.pdf Johnson, M. (2016). A new approach to Internet banking. Retrieved 1 October 2016, from https://www.cl.cam.ac.uk/techreports/UCAM-CL-TR-731.pdf Khan, A. (2016). Online Banking Transaction System. Retrieved 1 October 2016, from https://biztek.edu.pk/qec/jict/2.2/2%20Online%20Banking%20Transaction%20System.pdf Khrais, L. (2016). Journal of Internet Banking and Commerce. Retrieved 1 October 2016, from https://www.icommercecentral.com/open-access/highlighting-the-vulnerabilities-of-online-banking-system.pdf Kumar, R. (2016). Centralized Internet Banking System. Retrieved 1 October 2016, from https://www.ijetae.com/files/Volume3Issue7/IJETAE_0713_105.pdf Norman, M. (2016). An internet banking system. Retrieved 1 October 2016, from https://www.cs.uwc.ac.za/~mali/documentation.pdf Shah, M. Clarke, S. (2016). E-Banking Management: Issues, Solutions, and Strategies. Retrieved 1 October 2016, from https://www.ismsedu.com/E-Banking%20Management.pdf