System Design: Gold Loan Disbursement in Capital FirstLov Loothra
This project elucidates the usage of industry best practices in Business Analysis and Process Modelling to design a Gold Loan Disbursement system for Capital First Limited. The following were the broad objectives of the project:
- Studying and examining the current practices in the Gold Loan Industry in India
- Understanding the Loan Against Gold Product
- Examining the workings of Gold Loan branches at Capital First Limited
- Designing a system for Gold Loan disbursement process
- Assessing whether the process efficiency can be improved
Digital lending is quickly growing among the 'thin file' borrowers i.e. the borrowers with no or negligible credit history. These borrowers can be both consumers or businesses.
But, in recent months the digital lenders are struggling with liquidity crises due to the pandemic. As RBI extended loan moratorium to borrowers, the Digital Lenders are in a catch-22 situation. While their borrowers expect them to extend the moratorium, financial institutions they borrow from (Banks and large NBFCs) are either refusing to or delaying to extend the moratorium to the digital lenders. digital lenders Association of India (DLAI) has already approached the RBI to get the moratorium benefits.
It is quite expected that many digital lenders (especially ones with weaker balance sheets) will not survive not only because of the liquidity crisis but also exposure to less creditworthy borrowers who are often small businesses and less creditworthy individuals. The economic repercussions of the lockdown may leave many of the borrowers unable to repay as small businesses shut down and people lose employment.
Although, the lockdowns have caused rapid digital adoption which is beneficial for the industry in the long-term. This indicates that the industry is expected to go through a lot of consolidation as cash strapped players look to be acquired to get some exit.
Let us understand this industry.
Rabobank: Case Studies in Mobile Banking & Payments Development: November 201...Dan Armstrong
A brief presentation on mobile banking and payments developments within Rabobank Nederland and Rabobank International; as well as some case studies of how Rabo Development uses these lessons learned in developing countries.
Dan Armstrong
IIR Mobile Payment Services
Prague, Czech Republic
02 November 2010
System Design: Gold Loan Disbursement in Capital FirstLov Loothra
This project elucidates the usage of industry best practices in Business Analysis and Process Modelling to design a Gold Loan Disbursement system for Capital First Limited. The following were the broad objectives of the project:
- Studying and examining the current practices in the Gold Loan Industry in India
- Understanding the Loan Against Gold Product
- Examining the workings of Gold Loan branches at Capital First Limited
- Designing a system for Gold Loan disbursement process
- Assessing whether the process efficiency can be improved
Digital lending is quickly growing among the 'thin file' borrowers i.e. the borrowers with no or negligible credit history. These borrowers can be both consumers or businesses.
But, in recent months the digital lenders are struggling with liquidity crises due to the pandemic. As RBI extended loan moratorium to borrowers, the Digital Lenders are in a catch-22 situation. While their borrowers expect them to extend the moratorium, financial institutions they borrow from (Banks and large NBFCs) are either refusing to or delaying to extend the moratorium to the digital lenders. digital lenders Association of India (DLAI) has already approached the RBI to get the moratorium benefits.
It is quite expected that many digital lenders (especially ones with weaker balance sheets) will not survive not only because of the liquidity crisis but also exposure to less creditworthy borrowers who are often small businesses and less creditworthy individuals. The economic repercussions of the lockdown may leave many of the borrowers unable to repay as small businesses shut down and people lose employment.
Although, the lockdowns have caused rapid digital adoption which is beneficial for the industry in the long-term. This indicates that the industry is expected to go through a lot of consolidation as cash strapped players look to be acquired to get some exit.
Let us understand this industry.
Rabobank: Case Studies in Mobile Banking & Payments Development: November 201...Dan Armstrong
A brief presentation on mobile banking and payments developments within Rabobank Nederland and Rabobank International; as well as some case studies of how Rabo Development uses these lessons learned in developing countries.
Dan Armstrong
IIR Mobile Payment Services
Prague, Czech Republic
02 November 2010
Everything You Need to Know About Virtual Credit CardsRon Griswold
Once seen as a banking commodity, e-payables continues leaning toward tech-minded companies for stronger results.
One provider in particular continues to out-pace all others by focusing on integrating with any software and enrolling 3x more vendors than the rest of the market.
YES BANK, one of the new generation private sector banks, was set up in India after reforms were introduced in the banking sector in the 1990s. Yes Bank entered the market in late 2004 when the banking space in India was already overcrowded with a number of public sector banks, private sector banks
Neobanks have been the flavor of the season.
We have atleast one catering to the Millennials, Gig Economy / Blue-collared workers, Students, Startups, SMEs, Cooperatives. Exciting times.
http://goniyo.com/
https://sliceit.com/
https://jupiter.money/
http://koppr.in/
https://epifi.com/
https://coop.kred.in/
https://yelobank.in/
http://fampay.in/
https://bankonjuno.com/
https://www.enkash.com/
https://www.bankopen.com/
Note: this may not be the exhaustive list.
#neobanks #ncpi #indiastack #digitalbanking #millennials #openbanking #fintech
#niyo #slice #jupiter #koppr #epifi #kred #yelo #fampay #juno #open #enkash #ezoto
Mobile Banking in 2020 - Mobile World Congress ReportNadejda Tatarciuc
Present report was presented at Mobile World Congress this year, showing the outlook for mobile banking by 2020! - how a younger world, more internet, crime, and activist governments will affect mobile banking penetration.
Everything You Need to Know About Virtual Credit CardsRon Griswold
Once seen as a banking commodity, e-payables continues leaning toward tech-minded companies for stronger results.
One provider in particular continues to out-pace all others by focusing on integrating with any software and enrolling 3x more vendors than the rest of the market.
YES BANK, one of the new generation private sector banks, was set up in India after reforms were introduced in the banking sector in the 1990s. Yes Bank entered the market in late 2004 when the banking space in India was already overcrowded with a number of public sector banks, private sector banks
Neobanks have been the flavor of the season.
We have atleast one catering to the Millennials, Gig Economy / Blue-collared workers, Students, Startups, SMEs, Cooperatives. Exciting times.
http://goniyo.com/
https://sliceit.com/
https://jupiter.money/
http://koppr.in/
https://epifi.com/
https://coop.kred.in/
https://yelobank.in/
http://fampay.in/
https://bankonjuno.com/
https://www.enkash.com/
https://www.bankopen.com/
Note: this may not be the exhaustive list.
#neobanks #ncpi #indiastack #digitalbanking #millennials #openbanking #fintech
#niyo #slice #jupiter #koppr #epifi #kred #yelo #fampay #juno #open #enkash #ezoto
Mobile Banking in 2020 - Mobile World Congress ReportNadejda Tatarciuc
Present report was presented at Mobile World Congress this year, showing the outlook for mobile banking by 2020! - how a younger world, more internet, crime, and activist governments will affect mobile banking penetration.
This report is only about the information system of THE CITY BANK Bangladesh. NO CONFIDENTIAL data were used in this report. This report can be used only for educational purpose.
Introduction
In the modern banking landscape, virtual assistants have become increasingly popular tools for banks to enhance customer service, improve operational efficiency, and drive digital transformation. These virtual assistants, powered by artificial intelligence (AI) and natural language processing (NLP), offer a wide range of functionalities, from basic customer support to personalized financial advice. This article explores the role of virtual assistants in banking, their benefits, challenges, and future prospects.
Role of Virtual Assistants in Banking
Virtual assistants in banking serve as digital concierges, offering customers a convenient way to interact with their bank through voice or text interfaces. They can assist customers with a variety of tasks, such as checking account balances, transferring funds, paying bills, and even providing financial insights and advice. Virtual assistants can also help banks streamline their operations by automating routine tasks, such as answering frequently asked questions and processing simple transactions, freeing up human agents to focus on more complex issues.
Benefits of Virtual Assistants in Banking
Improved Customer Experience: Virtual assistants provide customers with instant, round-the-clock support, enhancing their overall banking experience.
Increased Efficiency: By automating routine tasks, virtual assistants help banks reduce operational costs and improve efficiency.
Personalized Service: Virtual assistants can analyze customer data to offer personalized financial advice and product recommendations.
24/7 Availability: Unlike human agents, virtual assistants are available 24/7, providing customers with access to banking services anytime, anywhere.
Scalability: Virtual assistants can handle multiple customer inquiries simultaneously, allowing banks to scale their customer service operations more effectively.
Data Analytics: Virtual assistants can analyze customer interactions to identify trends and patterns, which banks can use to improve their products and services.
Challenges of Virtual Assistants in Banking
Security Concerns: Virtual assistants may raise security concerns, especially when dealing with sensitive financial information. Banks need to ensure that their virtual assistants comply with strict security standards.
Integration Issues: Integrating virtual assistants with existing banking systems and processes can be challenging and may require significant time and resources.
Accuracy and Reliability: Virtual assistants need to be highly accurate and reliable, especially when providing financial advice or processing transactions.
User Adoption: Some customers may be hesitant to interact with virtual assistants, preferring traditional banking channels.
Regulatory Compliance: Virtual assistants need to comply with various regulations, such as data protection and privacy laws, which can vary across different jurisdictions.Future Prospects of Virtual Assistants in Banking
Released: 2012
Remote check capture, once a niche service offered selectively to business customers, has transformed to be a mass-market service and integral capability in mobile banking solutions. Across the financial services industry, Mobile RDC projects are underway in banks, thrifts and credit unions of all sizes to meet the market demand from retail and small business customers.
Furthering that momentum, deposit growth continues to be a strategic cornerstone of retail banking and Mobile RDC has been proven to be a catalyst for generating new revenue sources, new customers, and deposit growth. As financial institutions refine their mobile banking strategies, Mobile RDC has been elevated to be a priority initiative.
To help you navigate to a successful Mobile RDC deployment, this report will:
- provide industry update on Mobile RDC
- illuminate the key success criteria for a Mobile RDC service
- provide practical suggestions and best practices to appropriately address implementation speed bumps so that financial institutions are well prepared to achieve the benefits of offering this service
This proposal is intended for obtaining the approval of carrying out the marketing term paper on
The topic -
“FACTORS INFLUENCING CONSUMERS’ BUYING PATTERN TOWARDs WIMAX MODEM IN BANGLADESH- a study on BANGLALION WiMax Modem.”
In order to fulfill the requirements of conducting the practical marketing term paper for the course of “Marketing management (MKT201)”.
WiMax internet is a new wireless internet technology to the Bangladeshi internet users, which has been emerging during the last two years and replacing the broadband services at a fairly quick pace. Though previously there have been some wireless internet service providers operating in the industry, due to various reasons like high prices and low coverage, the concept of wireless internet service couldn’t make its place in the crowd.
However, Banglalion Communication Ltd. promised to remove these shortcomings two years back and quite successfully have started their operations. The significance and objectives of the term paper, design of the research methods and schedule of the report submission are clarified throughout the upcoming sections.
* May Be There have some mistake please avoid and check it again...Thanks.
**I love and like to Help and if anybody be grateful to my job please don't forget to mail me.... :P
Best Regards,
Mushfiqul Haque Mukit
East West University
Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI.
Oprah Winfrey: A Leader in Media, Philanthropy, and Empowerment | CIO Women M...CIOWomenMagazine
This person is none other than Oprah Winfrey, a highly influential figure whose impact extends beyond television. This article will delve into the remarkable life and lasting legacy of Oprah. Her story serves as a reminder of the importance of perseverance, compassion, and firm determination.
The case study discusses the potential of drone delivery and the challenges that need to be addressed before it becomes widespread.
Key takeaways:
Drone delivery is in its early stages: Amazon's trial in the UK demonstrates the potential for faster deliveries, but it's still limited by regulations and technology.
Regulations are a major hurdle: Safety concerns around drone collisions with airplanes and people have led to restrictions on flight height and location.
Other challenges exist: Who will use drone delivery the most? Is it cost-effective compared to traditional delivery trucks?
Discussion questions:
Managerial challenges: Integrating drones requires planning for new infrastructure, training staff, and navigating regulations. There are also marketing and recruitment considerations specific to this technology.
External forces vary by country: Regulations, consumer acceptance, and infrastructure all differ between countries.
Demographics matter: Younger generations might be more receptive to drone delivery, while older populations might have concerns.
Stakeholders for Amazon: Customers, regulators, aviation authorities, and competitors are all stakeholders. Regulators likely hold the greatest influence as they determine the feasibility of drone delivery.
The Team Member and Guest Experience - Lead and Take Care of your restaurant team. They are the people closest to and delivering Hospitality to your paying Guests!
Make the call, and we can assist you.
408-784-7371
Foodservice Consulting + Design
Senior Project and Engineering Leader Jim Smith.pdfJim Smith
I am a Project and Engineering Leader with extensive experience as a Business Operations Leader, Technical Project Manager, Engineering Manager and Operations Experience for Domestic and International companies such as Electrolux, Carrier, and Deutz. I have developed new products using Stage Gate development/MS Project/JIRA, for the pro-duction of Medical Equipment, Large Commercial Refrigeration Systems, Appliances, HVAC, and Diesel engines.
My experience includes:
Managed customized engineered refrigeration system projects with high voltage power panels from quote to ship, coordinating actions between electrical engineering, mechanical design and application engineering, purchasing, production, test, quality assurance and field installation. Managed projects $25k to $1M per project; 4-8 per month. (Hussmann refrigeration)
Successfully developed the $15-20M yearly corporate capital strategy for manufacturing, with the Executive Team and key stakeholders. Created project scope and specifications, business case, ROI, managed project plans with key personnel for nine consumer product manufacturing and distribution sites; to support the company’s strategic sales plan.
Over 15 years of experience managing and developing cost improvement projects with key Stakeholders, site Manufacturing Engineers, Mechanical Engineers, Maintenance, and facility support personnel to optimize pro-duction operations, safety, EHS, and new product development. (BioLab, Deutz, Caire)
Experience working as a Technical Manager developing new products with chemical engineers and packaging engineers to enhance and reduce the cost of retail products. I have led the activities of multiple engineering groups with diverse backgrounds.
Great experience managing the product development of products which utilize complex electrical controls, high voltage power panels, product testing, and commissioning.
Created project scope, business case, ROI for multiple capital projects to support electrotechnical assembly and CPG goods. Identified project cost, risk, success criteria, and performed equipment qualifications. (Carrier, Electrolux, Biolab, Price, Hussmann)
Created detailed projects plans using MS Project, Gant charts in excel, and updated new product development in Jira for stakeholders and project team members including critical path.
Great knowledge of ISO9001, NFPA, OSHA regulations.
User level knowledge of MRP/SAP, MS Project, Powerpoint, Visio, Mastercontrol, JIRA, Power BI and Tableau.
I appreciate your consideration, and look forward to discussing this role with you, and how I can lead your company’s growth and profitability. I can be contacted via LinkedIn via phone or E Mail.
Jim Smith
678-993-7195
jimsmith30024@gmail.com
1. IB&M, UET Lahore 5/15/15 Project Constraint
Management
Mobile Banking
Submitted By: Shahid Nadeem R-MBA-FALL-11-025
Bilal Asad R-MBA-FALL-12-036
Muhammad Basir R-MBA-FALL-12-061
Submitted To: Sir Hammad Nasir
2. MOBILE BANKING - MAY 2015 1
First and foremost we would like to express our thanks to Allah because of His
blessings and strength that He has given to us to finish this report as our final project
report. We have put the best of our efforts in this project.
However, it would not have been possible without the kind support and help of Sofia
Faruq Senior Software Engineer and Project Manager at Inov8. We would like to
extend our sincere thanks to all of them.
We are highly indebted to Inov8 managers for their guidance and supervision as well
as for providing necessary information regarding the project & also for their support
in answering the questions.
We would like to express our gratitude towards our parents & member of our group
for their kind co-operation and encouragement which helped us in completion of this
project.
Acknowledgement
3. MOBILE BANKING - MAY 2015 2
Table of Contents
Executive Summary........................................................................................................................ 5
Inov8 Limited.................................................................................................................................. 6
Vision and Mission ......................................................................................................................... 6
Success at a Glance......................................................................................................................... 7
Background of Project .................................................................................................................... 7
Mobile Banking Product – The Falcon Platform............................................................................ 7
Role of the Project Manager ........................................................................................................... 9
Project Management in Falcon ..................................................................................................... 10
Initiating Process Group ............................................................................................................... 11
1. Brief Intro to Customer.......................................................................................................... 11
2. Backend or Complete Detail of Product ................................................................................ 12
3. Development of Project Charter ............................................................................................ 12
1) Transactions Details........................................................................................................... 13
Funds Transfer................................................................................................................ 13
Bill Payments ................................................................................................................. 13
Top Up............................................................................................................................ 13
Retail Payment ............................................................................................................... 13
Mini Statement............................................................................................................... 13
Balance Check................................................................................................................ 14
Other Services ................................................................................................................ 14
2) Business Case..................................................................................................................... 14
3) Technical Information........................................................................................................ 15
Superior Technology...................................................................................................... 15
4. MOBILE BANKING - MAY 2015 3
Fast Integration time....................................................................................................... 15
Middleware Strengths .................................................................................................... 15
4) System Component............................................................................................................ 15
4. Technical and Pricing ............................................................................................................ 16
1. Hardware Recommended................................................................................................... 16
2. Software Requirement ....................................................................................................... 17
3. Pricing................................................................................................................................ 17
Planning Process Group................................................................................................................ 18
1. Requirement Gathering.......................................................................................................... 19
2. Project Scope ......................................................................................................................... 19
3. Work Breakdown Structure ................................................................................................... 20
4. Time Management ................................................................................................................. 21
5. Cost Management .................................................................................................................. 21
6. Contract Type......................................................................................................................... 22
7. Project Plan............................................................................................................................ 22
8. Test Plan................................................................................................................................. 23
9. Risk Register.......................................................................................................................... 23
Executing Process Group.............................................................................................................. 24
1. Development.......................................................................................................................... 24
2. Testing and Quality Assurance .............................................................................................. 24
3. Risk Response........................................................................................................................ 26
Monitoring Control Process Group............................................................................................... 26
1. Project Report ........................................................................................................................ 26
2. Change Requests.................................................................................................................... 26
5. MOBILE BANKING - MAY 2015 4
3. Maintenance........................................................................................................................... 27
Closing Process Group.................................................................................................................. 27
1. Phase Closure......................................................................................................................... 27
1. Release Acceptance Form.................................................................................................. 27
2. UAT Sign Off .................................................................................................................... 27
2. Soft Launch and Live Launch................................................................................................ 27
Recommendation .......................................................................................................................... 28
6. MOBILE BANKING - MAY 2015 5
Executive Summary
This document will serve as the report for a project that is used is Mobile Banking
Application for Meezan Bank powered by Inov8 Limited. According to recent
research people are spending more time on mobile instead of internet and this is
a big opportunity for the banks to jump into the mobile banking solutions. The
purpose of this project is to provide a Bank with the Mobile Banking platform.
The Meezan bank wants to have Mobile Banking system for their current
customer base who are already registered for the Internet Banking.
This report gives the detail information of the project carrying out by the
Inov8 Ltd. a banking platform development and consulting company. This
project report gives you the detail information about the platform of Inov8
branchless banking named as Falcon Platform for the customer Meezan
bank.
This project is of 110 days, this paper provides you the thorough
information of the how the project management is being done in this project
and how they are carrying out this project
7. MOBILE BANKING - MAY 2015 6
Banking App
The Falcon Platform
Inov8 Limited
Incorporated in 2004, Inov8 has grown to become the leading provider for technology and
consulting solutions for all players in the mobile and branchless banking ecosystem including
financial institutions, mobile operators, agent networks, merchants, money transfer organizations,
regulators and governments. Our experience comes from working with some of the best
organizations in the world, including Fortune 100, and Fortune 500 companies.
Inov8’s team comprises individuals with an in depth understanding of mobile commerce and
payments along with their individual areas of expertise ranging from business and covering all
technology required for designing, deploying, integrating and supporting products and solutions.
The underlying strengths of Inov8 are its people and technology. We promise and deliver
innovative strategies and technology in an age where competition does not allow for learning
curves.
Vision and Mission
Inov8’s vision is to use technology and innovation for enabling access to mobile financial services
for the unbanked and to make mobile payments more convenient for the banked.
Inov8’s mission is to provide technology and consulting solutions for all players in the mobile and
branchless banking ecosystem including financial institutions, mobile operators, agent networks,
merchants, money transfer organizations, regulators and governments, representing a
fundamentally transformational opportunity to connect millions of people to the digital economy.
8. MOBILE BANKING - MAY 2015 7
Success at a Glance
Inov8’s history of successes include setting up and deploying one of the world’s first interoperable
shared mobile payments and settlement platforms in 2007. In 2008, Inov8 launched Pakistan’s first
mobile banking service with a shared, interoperable platform through the largest Mobile Network
Operator (MNO), multiple banks, utility companies, insurance, fast food and retail.
Working in collaboration with Askari Bank and Zong, Inov8 has successfully implemented and
launched, TimePey, Pakistan’s largest branchless banking deployment with a G2P focus. This
project entails salary transfers and pensions for servicemen, branchless banking for the unbanked,
mobile banking, next generation mobile commerce and remittances.
Inov8 has grown to become one of the region’s leading technology and mobile commerce
companies over the last decade. We have become experts in designing, implementing, rolling out
and optimizing large and complex m-commerce projects.
Background of Project
This document will serve as the report for a project that is used is Mobile Banking Application for
Meezan Bank powered by Inov8 Limited. According to recent research people are spending more
time on mobile instead of internet and this is a big opportunity for the banks to jump into the
mobile banking solutions. The purpose of this project is to provide a Bank with the Mobile Banking
platform. The Meezan bank wants to have Mobile Banking system for their current customer base
who are already registered for the Internet Banking.
Mobile Banking Product – The Falcon Platform
The Falcon Platform is the module of the Inov8 Ltd. i8Microbank Platform, it allows Banks to
further penetrate the mobile financial services industry and provide an alternate channel for
payments. At present, the banked customers are a major market to target for mobile financial
services, as they just need access from the mobile phone in a secure manner. Customers will be
9. MOBILE BANKING - MAY 2015 8
able to access their accounts (Credit, Debit, and Account) of the particular bank and can use them
on the go using the mobile app, anytime and anywhere.
INOV8’s Flacon Platform provides integrations with third party financial systems, and offer direct
integrations to banks where all processing, routing, and switching is done by I8Microbank System
thus reducing turnaround times, eliminating reconciliation issues - all as a cost effective solution,
with low total cost of ownership.
As the branchless banking industry currently stands, more than 95% of transactions which are
carried out through agents, whereas transactions initiated from customers via smartphones are still
limited, with conversion relatively low. There is market data which suggests that a service for the
banked segment presents an excellent opportunity for growing P2P revenues.
It allows a customer to conduct a variety of mobile financial transactions in real time – all while
choosing from any of their linked financial accounts from multiple financial entities. This can be
configured either before, or during a transaction. This allows them to truly digitize their accounts.
Customers will need to activate their accounts at their respective financial institutions for use, as
per SBP guidelines.
I8Microbank is designed and implemented to meet all bank and carrier grade requirements.
The features of the platform are as follows:
Real time processing and settlement
Security
Scalability
Reliability
Advanced customer relationship management (CRM) service portals for banks
10. MOBILE BANKING - MAY 2015 9
Advanced User and role management definition portals
Complaint management systems, with escalation, and definable TAT’s
Dispute resolution systems
Advanced Reconciliation and reporting
Integration with Branchless systems
Session based charging for Mobile App Channel
A full proposal with broken out functionality will be available upon request.
Role of the Project Manager
All the pre execution process were performed by the PCC/PMO without participation of the project
manager. It is worth mentioning that all the resources such as supply of materials, equipments,
contractors, project team etc. were provided by the PCC / PMO office.
Project manager’s core responsibilities were to direct and manage project work, prepare
WBS,QA/QC , direct project team, supervised the development works in execution, conduct daily
progress review meeting at site, weekly progress appraisal meeting at PMO office, prepare
schedule for resources demand, to ensure progress of work as per schedule and specifications.
CEO
Change
Control Board
Project
Manager
Senior Soft.
Engineer
Soft. Engineer
1
Soft. Engineer
2
Soft. Engineer
3
Soft. Engineer
4
Senior
Quality
Engineer
Quality
Engineer 1
Quality
Engineer 2
Quality
Engineer 3
Manger
Admin
Surveyor
11. MOBILE BANKING - MAY 2015 10
Project Management in Falcon
Inov8 uses the concept of PMBOK recommended by Project Management Institute (PMI) in the
development of every project. This project also includes all five process groups of project
management, but some knowledge areas completely and some are partially skipped. The table
below gives the detail information of the knowledge areas used
Project Management Process Group and Knowledge Area Mapping
Knowledge
Area
Project Management Process Groups
Initiating Planning Executing Monitoring
Controlling
Closing
P.
Integration
Management
4.1 Develop
Project
Charter
4.2 Develop
Project
Management Plan
4.3 Direct and
Manage Project
Work
4.4
MonitorControl
Project Work
4.6 Close
Project
or Phase
P. Scope
Management
5.2 Collect
Requirements
5.3 Define Scope
5.4 Create WBS
5.5Validate Scope
5.6 Control Scope
P. Time
Management
6.1Plan Schedule
Management
P. Cost
Management
7.1 Plan Cost
Management
P. Quality
Management
8.1 Plan Quality
Management
8.3 Control
Quality
P. Risk
Management
11.2 Identify Risks
12. MOBILE BANKING - MAY 2015 11
Initiating Process Group
In initiating process group of this project covers following points
1. Brief intro to Customer
2. Backend or Complete detail of product
3. Development of Project Charter
4. Technicality and Pricing
5. Agreements
1. Brief Intro to Customer
Initially customers are presented with the product briefs and brochures. Demonstrations are
conducted with the Client. All the features of the product are displayed to the client of the current
system. After the complete walk through of the product, the client can request the product as it is
or can propose some new features or updates.
13. MOBILE BANKING - MAY 2015 12
2. Backend or Complete Detail of Product
After viewing the front, mostly the Client are more interested in knowing more about the backend
system with integrations. Backend is composed of multiple layers. The two most important layers
are i8Microbank layer and Integration Layer. I8Microbank is the heart of the system and it has
different variants or versions to support multiple product line.
After demonstration a Client can request a Project Charter with a Business Case in order to evaluate
the numbers or stats.
3. Development of Project Charter
Project charter includes introduction about the product which has already discussed above and the
detail information about project. i8Microbank project charter includes following;
1. Transactions Details
2. Business Case
3. Technical Information
14. MOBILE BANKING - MAY 2015 13
1) Transactions Details
Funds Transfer
I8Microbank System facilitates Intra-Bank and Inter-Bank funds transfer (IBFT) using its
integration with banking middleware. Onward transactions for interbank funds transfer can
be routed via 1Link, or other remittance options (i.e. Visa Personal Payments). The funds
transfer process is very simple and largely similar to the one already in place on ATMs that
offer IBFT. This lays the groundwork for processing both domestic and incoming
international mobile remittance services
Bill Payments
I8Microbank facilitates a multitude of public and private sector bill payments. These
payments can be made via 1-Link, Phoenix, Rendezvous or 3rd party billing systems.
Generally banks use their own bill payment processing relationships for the same.
Top Up
The top up functionality allows the user to purchase mobile airtime. Mobile top up is
provisioned in real time and the payment is deducted from the user’s linked account
instantaneously. The user has the option to top up his own mobile or he can send mobile
credit to other users.
Retail Payment
Mobile Banking customers can easily pay for their retail purchases directly from their
mobile banking service at participating retailers. Customers can be charged a convenience
fee if required, where a merchant does not fulfill qualification for a merchant fee. It is likely
that all Telco top-up retailers can be converted to receive mobile banking payments. High
end merchants can be catered for via web or mobile apps.
Mini Statement
Mobile Banking customers can view their mini statements from any of their accounts.
Customers will be able to view his/her last 5 transactions pertaining to their accounts within
respective banks.
15. MOBILE BANKING - MAY 2015 14
Balance Check
The balance check functionality will allow the users to check their balance of their accounts
in real time.
Other Services
The I8Microbank platform provides the following services in addition to the above:
Salary payments and bulk disbursements
Supply chain payments and automation
Online Payments (Like PayPal for local settlement)
Closed user group payments for corporate
Customer segmentation capabilities with IN functionality (pricing products and
services different for groups)
2) Business Case
Assumption 1
Total number of current mobile subscribers 134,907,976
Banked Population (11 %) 20,000,000
Monthly throughput from Mobile Apps 2 Billion
Assumption 2
The model assumes that will gain customers in 8 quarters meaning
2.1% of its total subscribers 23,345,258
12.9% of its subscribers who have a bank account
500,000
Per Transaction on Bill Payment + Transfer (900+220) 1120
Total Expected Revenue in 8th
Quarter 540000000
16. MOBILE BANKING - MAY 2015 15
3) Technical Information
I8Microbank System is a proprietary mobile financial services middleware platform, which can
connect to multiple hosts and various systems. It facilitates, manages, routers, switches, and
processes transactions between different entities. With an additional module, it manages the latest
smartphone based mobile commerce applications as well.
Superior Technology
Technical highlights of I8Microbank System:
i8Microbank System is made using the latest state of the art tools and is n-tier
o The technology stack comprises a highly available, J2EE carrier and bank grade
application, using ideally Oracle Database technology backed by different components.
The solution is carrier class and is high availability configured
o There are no single redundant software / hardware nodes
o Software and Hardware based load balancing
o Clustering across all nodes
Please see section on infrastructure requirements to assess technology stack
Fast Integration time
Integration time between I8Microbank System and Telco and financial institutions will
have a quick turnaround time. This leads to shorter timelines for UAT, quick commercial
releases, and gives an edge over competitors. Furthermore, with standard interfaces and
with the experience of the integration team at INOV8 Ltd, these will be industry leading
times.
Middleware Strengths
The I8Microbank server also has middleware capabilities via its routing component. It can
acquire transactions from any network, do the routing, switching and get them processed
by a range of different systems including core banking systems, banking middleware such
as Phoenix, Rendezvous and IRIS, and remittance systems.
4) System Component
Webserver/Software load Balancer
DB Servers
SAN Storage
17. MOBILE BANKING - MAY 2015 16
SMS Gateway
IR - Intelligent Router
Over-all network design
4. Technical and Pricing
This is the fourth part of the initiating phase of this project it includes the hardware required for
the platform and pricing.
1. Hardware Recommended
i. The DB framework is based on an active - passive replication process using Oracle Real
Application Cluster (RAC) and core licensing.
ii. This configuration uses Oracle licensing at the CPU level.
iii. The entire system is plug and play for scalability, one of the strengths of our solution. Adding
a server to the application and DB cluster will require virtually no downtime.
iv. Prices and models may vary based upon availability.
v. Performance will not be affected because you have the application servers load balanced from
the Web Server using Apache MOD/JK.
vi. Recommended hardware may change upon bank’s actual business requirements and load
assessment.
Servers Specifications
(Virtualized)
OS System
Behavior
Qty
WEB Layer Intel E5-4620 Xeon 2.2 GHz, 2
Core, 8 GB RAM, HD 75 GB
CentOS-6.5-
x86_64
Active/Passive 2
I8IR Layer Intel E5-4620 Xeon 2.2 GHz, 4
Core, 12 GB RAM, HD 150 GB
CentOS-6.5-
x86_64
Active/Passive 2
Application
Layer
Intel E5-4620 Xeon 2.2 GHz, 4
Core, 12 GB RAM, HD 150 GB
CentOS-6.5-
x86_64
Active/Active 2
SAN Storage 2 Terabytes of
data in your
existing SANS
1TB + 1TB N/A
18. MOBILE BANKING - MAY 2015 17
2. Software Requirement
Item
No.
Category Component Description Unit of
Measure
Qty Note
1 Infrastructure
Software
CentOS &
Oracle Linux
Operating System Per
Server
12 8 servers at
primary site and
4 server at DR
2 Software Apache Webserver Per
Server
3 2 servers at
primary site and
1 server at DR
3 Infrastructure
Software
jboss-7.1.1.GA Application
Platform
Per
Server
6 Open Source
4 Infrastructure
Software
jdk (v 1.7) Java Environment Per
Server
6 Open Source
5 Infrastructure
Software
SSL Certificate Secure session Per
Domain
1
6 Infrastructure
Software
Oracle Database
11g R2
[11.2.0.4]
Enterprise
Edition
RDMS Database
Engine
Per Core 6 4 at Primary and
2 at DR site
8 Infrastructure
Software
Oracle 11g R2
[11.2.0.4] Grid
Infrastructure
DB Clustering and
Automatic Storage
Management(ASM)
Per Core 4 At Primary Site
7 Infrastructure
Software
Oracle
diagnostic Pack
Oracle tuning
pack
Oracle Database
Options
Per Core 6 7
3. Pricing
Any other optional work will be billed at mutually agreed upon customization rates per
man day or per feature.
Meezan Bank will be responsible for providing all testing handsets.
All travel and board for personnel at all stages of the project will be Meezan Bank’s
responsibility.
Implementation and Licensing
60% at Master License Agreement sign-off
19. MOBILE BANKING - MAY 2015 18
20% upon signing off project plan / scope of work document
15% upon issuance of UAT sign-off Certificate by Licensee
5% upon expiry of 6 months after issuance of UAT Sign-off Certificate
Components Listed Price (USD)
MicroBank and Falcon Implementation and Customization $16,000
I8IR Integrations
SMSC/Aggregator
Monetique
Core Banking @ $ 20,000 per integration
$ 60,000
Total (Project Cost) $ 76,000
Customization Listed Price (USD)
Per Man Day $250
Agreements
Agreements include software license agreements and service level agreements. For Meezan mobile
banking system only software license agreement was used.
Planning Process Group
Planning of this project includes the following areas;
1. Requirement Gathering
2. Project Scope
3. Work Breakdown Structure
4. Project Plan
5. Test Plan
6. Risk Register
20. MOBILE BANKING - MAY 2015 19
1. Requirement Gathering
This part is used to list the details of system features, to facilitate requirement gathering phase for
Meezan Mobile Banking Implementation. It was used to visualize the on demand work as per the
requirements and the product specifications document presented to Meezan Bank.
The queries mentioned herein will be responded to by Meezan Bank’s resources. Meezan Bank
given option to specify any customizations required in a flow/transaction. Requirement were
gather through following ways;
1. Questionnaires
2. Meetings
3. Conference Calls
4. Handbook Updates
a. Meezan Mobile App – Requirements Specification
b. Meezan Portal – Requirements Specification
2. Project Scope
Project Scope document defines the phase the project is currently in and identifies and lists the
features and functionalities that are in scope and also that are out of scope. There were 2 basic
scope of this project first is Mobile app which is at the user end and second is the portal which is
at the banks end.
Mobile App
Login via Falcon Mobile App
Ensuring that the Customer changes the Login PIN on first time Login
Establish a policy for implementing new, blacklist and obsolete versions of the Mobile app
Ability to perform Balance Inquiry
Ability to perform the Funds Transfer transaction
Ability to perform the IBFT transaction
Ability to view Mini Statement
Ability to change Login PIN
Ability to change Bank PIN (MPIN)
Ability to provide Branch Locator
Ability to integrate with Facebook
21. MOBILE BANKING - MAY 2015 20
Portal
Ability to cater following three users:
Super User (for operational activities)
Administrator (for configurations)
CSR
Ability to register /create customers (Account opening via Bank User)
Self-Activation/Registration for Mobile Banking Channel (?)
Link Payment Mode (Relink/Delink)
User Group Management
App & Bank PIN regeneration
Complaints Management
Application Version Management
3. Work Breakdown Structure
There are two kind of WBS for this project to completely understand the project deliverables. First
is front end which is used by the customer and second is backend or integration which is used by
the bank itself.
i. Front End WBS
1- Mobile
Application
1.1- Frontend 1.2- Integration
1.1.1- Login 1.1.2- Home
1.1.2.1- Fund
Transfer
1.1.2.2- Bill
Payments
1.1.2.3- My
Accounts
1.1.2.4- FAQs 1.1.2.5- Feedback
1.1.2.6- Block/
Unblock Cards
1.1.2.1.1- Own
Account Fund
Transfer
1.1.2.1.2- Third
Party Fund Transfer
1.1.2.1.3- IBFT 1.1.2.2.1- Utility Bills
1.1.2.2.2- Postpaid
Bills
1.1.2.2.3- Prepaid
Bills
1.1.2.2.4- ISPs
1.1.2.2.5- Registered
Bills
22. MOBILE BANKING - MAY 2015 21
ii. Backend/integration WBS
1.2- Integration
1.2.1- Login 1.2.2- Fund Transfer 1.2.3- Bill Payments 1.2.4- My Accounts
1.2.5- Card Block/
Unblock
1.2.1.1- User
Authentication
1.2.1.2- Customer
Information
1.2.1.3- Card List
1.2.2.1- Own
Account
1.2.2.2- Third Party 1.2.2.3- IBFT
1.2.2.1.1- Fund
Transfer
1.2.2.3.1- Fetch
Beneficiaries
1.2.2.3.2-
Beneficiary Title
Fetch
1.2.2.3.3- Fund
Transfer
1.2.2.2.1- Fetch
Beneficiaries
1.2.2.2.2-
Beneficiary Title
Fetch
1.2.2.2.3- Fund
Transfer
1.2.3.1- Bill Inquiry
1.2.3.2- Bill Payment
1.2.4.1- Fetch
Accounts
1.2.4.2- Balance
Inquiry
1.2.4.3- Full
Statement
4. Time Management
The time management for this project is done through the past experience basis. In our point of
view it shall be carried out properly through planning and estimation, this is discussed in detail in
recommendation section. This time allocated for this project is assigned to the overall project as
not for the each activity this project was meant to complete in 110 days of working time. As this
project is currently in the phase of execution. There was no definition of activities and allocation
of the resources.
5. Cost Management
The cost management in the project is been carried out the way time management was done, Inov8
give budget of the project on the two basis first is of the license cost and second is the hardware
cost. It includes all the cost of the man, material and overhead, which in our thinking is not an
effective way.
23. MOBILE BANKING - MAY 2015 22
Components Listed Price (USD)
MicroBank and Falcon Implementation and Customization $16,000
I8IR Integrations
SMSC/Aggregator
Monetique
Core Banking @ $ 20,000 per integration
$ 60,000
Total (Project Cost) $ 76,000
Customization Listed Price (USD)
Per Man Day $250
6. Contract Type
The contract which was used to carry out this project is the Fixed-Price Contract. The most
commonly used contract type is the projects. It is favored by organizations because the price for
goods is set at the outset and not subject to change unless the scope of work changes. Any cost
increase due to adverse performance is the responsibility of Inov8 Ltd., who is obligated to
complete the effort. Under contract, Meezan Bank should precisely specify the product or services
to be procured, and any changes to the procurement specification can increase the costs to the
Inov8.
7. Project Plan
Project management plan of this project includes the;
1. Detail Scope of the project
2. Project WBS
3. Costing
4. Time of the project to complete
5. Quality test plan
6. Change request
7. Risk Identification
24. MOBILE BANKING - MAY 2015 23
8. Test Plan
Sr. No. Task Start Date
1 Bill Payment(Backend)
2 Fund Transfer(Backend)
3 Feedback, Mini statement, Sign-out , My account, Title Fetch, Fetch
registered consumers, Fetch beneficiaries(Backend)
4 System Integration Testing
5 Testing on Android(Front End)
6 Testing on IOS(Front End)
7 UAT(Blank DB)
8 Performance testing
9. Risk Register
Risk
ID
Risk Description Action Risk
Status
1 Ability of the system to work under the load
of users
Load Testing was performed
for 500 virtual users at a time
2 Issue with the number of database
connections while performing transactions
Maximum database
connections were allocated
25. MOBILE BANKING - MAY 2015 24
3 Issue with the RAM of Application and
database servers on production in case of
bulk of users
Appropriate RAM was
assigned to both the servers
Executing Process Group
Following elements are used in this process
1. Development
This activity includes development of the project. It includes implementation of the features within
the scope on both Mobile Apps, Backend Servers and Integration.
Development also includes unit testing performed by developers of both Front End and Back End
Systems.
2. Testing and Quality Assurance
According the plan, builds of the Mobile Apps and patches of the server are sent to QA for testing
and quality check. Testing includes testing of the features and functionality, performance and load
testing. Defects are logged using a tool called Bugzilla or can be listed down or shared in an Excel
sheet.
Defects Sheet
Sr.
No
Description Status
1 From account and To account are not shown on the report in case of IBFT
transaction
Resolved
2 Bill Company Column should be renamed to Product column on the grid and
it should show the products. Transaction type column should show only two
transaction types i.e. Fund Transfer and Bill Payment. IBFT should be shown
Resolved
26. MOBILE BANKING - MAY 2015 25
as the product of fund transfer. It should be included in product drop down
and nit in transaction type drop down in search criteria
3 Values in Product drop down should be populated on selecting the transaction
type.
Resolved
4 Name of customer payment services transaction should be changed to bill
payment.
Resolved
5 Detail link is missing from transaction details report Open
6 User is unable to type into transaction code field in search criteria Resolved
7 In case of own account fund transfer branch code is not shown with from and
to account fields
Resolved
8 On the transaction detail report, there should be option to extract the report
in xslx format as well.
Resolved
Load Testing Results
Login 100 11127 14446 16873 2452 17867 0 5.405113 29.74881
Fund Transfer third
party
100 4696 4638 5898 2582 7666 0 12.88328 4.202163
TOTAL 200 7912 5596 15235 2452 17867 0 6.516993 18.99703
27. MOBILE BANKING - MAY 2015 26
3. Risk Response
Risk
ID
Risk Description Action Risk
Status
1 Ability of the system to work under the load
of users
Load Testing was performed
for 500 virtual users at a time
Closed
2 Issue with the number of database
connections while performing transactions
Maximum database
connections were allocated
Closed
3 Issue with the RAM of Application and
database servers on production in case of
bulk of users
Appropriate RAM was
assigned to both the servers
Closed
Monitoring Control Process Group
1. Project Report
In that project report is developed through the Test Plan which is developed in the planning stage.
It also includes different sheets and responses which are as follows:
1- Activity tracking sheet
2- Risk Tracking Log Sheet
3- Issues Reported
4- Change Request
2. Change Requests
Change request are handled through Change Request Form. A CR can be either billable or non-
billable depending on the functionality. A change request form is given to the customer if there is
a change required in the project, it can be submitted through that form. The change request then
first process by the Manger change at site if it required additional approval it will be send to PMO.
28. MOBILE BANKING - MAY 2015 27
3. Maintenance
During maintenance, Bug Fix Request, Change Requests from Client are received. The Change
Requests can be billable or non-billable.
Closing Process Group
It includes the following elements;
1. Phase Closure
As Meezan’s Mobile Banking Project comprised of Phases. Therefore, at the end of every Phase
following two documents are prepared.
1. Release Acceptance Form
2. UAT Sign Off
1. Release Acceptance Form
Release Acceptance Form consists of the complete identification and definition of the release that
Inov8 is delivering. Scope of the Phase is defined to let the Client know that Inov8 is delivering
according to the scope and requirements. Also Software Package Details are enclosed in the form.
Moreover, User Acceptance Test Cases for the system are also listed which needs to be filled by
the Client insuring that the Client himself has tested the whole system.
2. UAT Sign Off
Once Release Acceptance is completed, both the parties that are Technology Partner i.e. Inov8
Limited and Client i.e. Meezan Bank Limited sign Off the User Acceptance Testing.
2. Soft Launch and Live Launch
Soft Lunch was conducted for one month duration with 100 Bank Customers. During the soft
launch Bug Fix Requests, Change Requests or New Requirements are received on basis of
Customers feedback.
After the success of Soft Launch the system moves to the Project Launch. Project Launch includes
providing the Mobile Apps on the Android and iOS Markets form where anyone can download
and use the applications. The backend system is moved to the high end Production Servers and
Databases.
29. MOBILE BANKING - MAY 2015 28
Recommendation
There are some project management areas which are being missed throughout this project, if these
are followed this project can be completed in more effective way.
We shall discuss the missing areas one by one;
Time management
There was roughly time estimated for this project on the basis of previous experience of the project
team.
Project team should have defined the activities first of the basis of the WBS
There should proper allocation of the resources required for the each activity
After that time estimation for each activity to complete should be calculated
o Project team can use the Three Point Technique for the time estimation of each
activity
tE=
tO+4tM+tP
6
Then there should be the Sequencing the activates with the help of PDM or CPM
Project team could use the MS Project for sequencing activities above is the example of the some
activates which was carried out to during project, it clearly shows if activities were properly
sequenced then a project team could save 2 days to perform these activities. Following is the detail
of MS Project Interface of the activities.
31. MOBILE BANKING - MAY 2015 30
Cost Management
Cost management and budget estimation is also done for this project is on Top down estimate. For
better cost management following thing could be done by the team
As explained earlier that there was not proper breakdown of WBS into activities, by doing
so project team could have made better estimate of the each activity or work package
Through allocating cost to each activity will help in the determine budget more accurately
Control cost is completely missed in this project and using EVM is not this company
practice
There should be proper cost controlling through EVM and TCPI
By following the above points company could save money and resources. It will also help company
to measure the performance of the project and to make changes.
Quality Management
Most of the quality management procedures were followed in this project and the requirement for
this nature can be met without the traditional standards of the project management.
Risk Management
The risk management for this project is done only at the planning phase, till the identification of
the risk. There was not proper quantification and response planning for the risk.
Following techniques can be used for the risk assessment and planning a response
Probability and impact matrix is one way to quantify risk it further used for the purpose of
developing Probability distribution for further clarification about the risk and planning
accordingly.
32. MOBILE BANKING - MAY 2015 31
Probability and Impact Matrix
Probability Threat Opportunity
0.90 0.05 0.09 0.18 0.36 0.72 0.72 0.36 0.18 0.09 0.05
0.70 0.04 0.07 0.14 0.28 0.56 0.56 0.28 0.14 0.07 0.04
0.50 0.03 0.05 0.10 0.20 0.40 0.40 0.20 0.10 0.05 0.03
0.30 0.02 0.03 0.06 0.12 0.24 0.24 0.12 0.06 0.03 0.02
0.10 0.01 0.01 0.02 0.04 0.08 0.08 0.04 0.02 0.01 0.01
0.05/
Very low
0.10/
Low
0.20/
Moderate
0.40/
High
0.80/
Very
High
0.80/
Very
High
0.40/
High
0.20/
Moderate
0.10/
Low
0.05/
Very low