Group 11

Rajshahi University of Engineering & Technology
Course No: CSE 4108
Course Title: Sessional Based on CSE 4107
System Analysis and Design of
IFIC Bank
Submitted by
Name Roll
Md. Iqbal Haider Khan 1903041
Barisha Chowdhury 1903046
Noshin Tamanna 1903053
Raiyan Mostofa Yead 1903059
Submitted to
Dr. Md. Rabiul Islam
Professor
Department of Computer Science & Engineering
Rajshahi University of Engineering & Technology
Date: October 6, 2024

Contents
1 Recognition of Need 5
1.1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
1.2 Problem Identification . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
1.3 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
2 Initial Feasibility Analysis 11

2.1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
2.2 Initial Feasibility study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
2.2.1 Problem-01 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
2.2.2 Problem-02 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
2.2.3 Problem-03 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
2.2.4 Problem-04 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16
2.3 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
3 Information Gathering & Analysis 18

3.1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
3.2 Information Gathering . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
3.2.1 Information Gathering Tools . . . . . . . . . . . . . . . . . . . . . . . . . . 19
3.2.2 Review of literature, procedures and forms . . . . . . . . . . . . . . . . 19
3.2.3 On-Site Observation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27
3.2.4 Interviews . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29
3.2.5 Questionnaire . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33
3.3 Analysis of Questionnaire . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
3.4 DFD of Existing System . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50
3.4.1 DFD of Knowing the Current Account Status of a Customer . . . . . . . 50
3.4.2 DFD of Money Deposit to the Bank . . . . . . . . . . . . . . . . . . . . . . 51
3.4.3 DFD of Withdrawing Money from the Bank . . . . . . . . . . . . . . . . . 53
3.5 Detailed Feasibility Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
3.5.1 Candidate System-I(Core Banking System Upgrade) . . . . . . . . . . . 55
3.5.2 Candidate System-II (Mobile Banking Application Improvement) . . . 56
1
3.5.3 Candidate System-III(Cloud-Based Customer Relationship Manage-
ment (CRM) System) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
3.5.4 Comparative Analysis of Candidate Systems . . . . . . . . . . . . . . . . 57
3.5.5 Recommendation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59
3.6 Cost-benefit Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
3.6.1 Cost Breakdown . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
3.6.2 Benefits Breakdown . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
3.6.3 Break-Even Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
3.7 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
4 Design 64
4.1 Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
4.2 DFD of the Proposed Candidate System . . . . . . . . . . . . . . . . . . . . . . . 64
4.2.1 Inquiring Account Status . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64
4.2.2 Money Deposit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66
4.2.3 Money Withdrawal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68
4.3 Database Design . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70
4.3.1 Database Schema . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70
4.3.2 ER Diagram . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71
4.4 Form Design . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 71
4.4.1 Details of findings: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72
4.4.2 Recommendations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72
4.5 UI Design . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73
4.6 Conclusion . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76
List of Figures
1.1 Current logo of IFIC Bank PLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

1.2 Percentage of shares of IFIC Bank PLC . . . . . . . . . . . . . . . . . . . . . . . . 6
1.3 The Current Profile of IFIC Bank PLC . . . . . . . . . . . . . . . . . . . . . . . . . 6
1.4 Management Hierarchy of IFIC Bank PLC . . . . . . . . . . . . . . . . . . . . . . 7
1.5 Principle activities of IFIC Bank PLC . . . . . . . . . . . . . . . . . . . . . . . . . . 7
3.1 Information Gathering Process (Step 1) . . . . . . . . . . . . . . . . . . . . . . . 19

3.2 Leaflet of IFIC Bank PLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
3.3 Account Opening Form (Page 1) of IFIC Bank PLC . . . . . . . . . . . . . . . . . 21
3.4 Account Opening Form (Page 2) of IFIC Bank PLC . . . . . . . . . . . . . . . . . 22
3.5 Tender of IFIC Bank PLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
3.6 Tender of IFIC Bank PLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24
3.7 Landing Page of IFIC Bank PLC with different banking services . . . . . . . . . 24
3.8 Main Menu . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
3.9 Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
3.10 Operators . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
3.11 UI of IFIC Aamar Bank app . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
3.12 Savings Schemes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
3.13 Outside of IFIC Bank PLC, Local Branch . . . . . . . . . . . . . . . . . . . . . . . 28
3.14 Inside of IFIC Bank PLC, Local Branch . . . . . . . . . . . . . . . . . . . . . . . . 28
3.15 Inside of IFIC Bank PLC, Local Branch . . . . . . . . . . . . . . . . . . . . . . . . 29
3.16 Graph of most popular services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
3.17 Graph of priority of organizational goals . . . . . . . . . . . . . . . . . . . . . . 39
3.18 Graph of Employee Opinion on Policy Reformation . . . . . . . . . . . . . . . . 40
3.19 Graph of Employees opinion on improvement of online services . . . . . . . . 41
3.20 Graph of Employees’ Job Satisfaction . . . . . . . . . . . . . . . . . . . . . . . . 42
3.21 Graph of Employees’ Opinion on current organization . . . . . . . . . . . . . . 43
3.22 Graph of most popular services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44
3.23 Graph of Bank benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45
3.24 Graph of Customers’ Digital/Online Service Usage . . . . . . . . . . . . . . . . . 46
3.25 Graph of Customer Experience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47
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3.26 Graph of Customers’ Probable Switching of Banks . . . . . . . . . . . . . . . . . 48
3.27 Graph of Customers’ Probable Recommendation . . . . . . . . . . . . . . . . . . 49
3.28 DFD For Knowing Current Account of Status . . . . . . . . . . . . . . . . . . . . 51
3.29 DFD For Money Deposit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52
3.30 DFD For Money Withdraw . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54
3.31 Comparative analysis of proposed candidate systems . . . . . . . . . . . . . . . 58
3.32 Performance Evaluation Matrix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58
3.33 Cost Evaluation Matrix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59
3.34 Qualitative Evaluation Matrix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59
3.35 Cost Breakdown . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
3.36 Benefit Breakdown . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61
3.37 Cumulative Costs and Benefits Analysis . . . . . . . . . . . . . . . . . . . . . . . 62
3.38 Break-Even Analysis Graph . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63
4.1 Proposed DFD of Knowing Account Status . . . . . . . . . . . . . . . . . . . . . . 65

4.2 Proposed DFD of Money deposit . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
4.3 Proposed DFD of Money Withdraw . . . . . . . . . . . . . . . . . . . . . . . . . . 69
4.4 ER Diagram of the candidate system . . . . . . . . . . . . . . . . . . . . . . . . . 71
4.5 Home Page of the New App . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 73
4.6 Transfer Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74
4.7 Transfer Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74
4.8 Autofill of Sensitive Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74
4.9 Forgot Password . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
4.10 Forgot Password . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
4.11 Credential Recovery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75
Chapter 1
Recognition of Need
1.1 Introduction
IFIC (International Finance Investment and Commerce) Bank PLC is a banking company
incorporated in the People’s Republic of Bangladesh with limited liability. It was set up
at the instance of the Government in 1976 as a joint venture between the Government of
Bangladesh and Sponsors in the private sector to work as a finance company within the
country and set up joint venture banks/financial institutions abroad.
Figure 1.1: Current logo of IFIC Bank PLC
In 1983, when the Government allowed banks in the private sector, IFIC Bank was con-
verted into a full-fledged commercial bank. The Government of the People’s Republic of
Bangladesh holds 32.75% of the share capital of the Bank. Sponsors/Directors having vast
experience in the field of trade and commerce own 4.11% of the share capital and the rest
is held by Institutions both local & foreign and General Shareholders. The Government is
being represented by three nominated Directors on the Board of the Bank and as such, the
present combined shareholding of the Sponsors/Directors are 36.86% of the total outstand-
ing share capital of the Bank.
6
Figure 1.2: Percentage of shares of IFIC Bank PLC
The present capital structure of the bank can be broken down to 40,000 million BDT of
authorized capital and 17,859.109 million BDT of Paid-up capital.
Figure 1.3: The Current Profile of IFIC Bank PLC
The management structure of the Bank is shown below:

The principle activities of the bank revolve around three main departments - General bank-
ing department, Credit risk management department and the Foreign exchange depart-
ment.
IFIC Bank strives to become the preferred financial service provider through innovative,
sustainable, and inclusive growth and to deliver the best in class value to all stakeholders.
Integrity, fairness, innovation and commitment are regarded as the organisation’s core val-
ues.
IFIC Bank prioritizes strategies like maintaining adequate capital flow, ensuring effective
risk management and diversifying loan portfolios to ensure sound business growth.
From the practical implementation of customer dealing procedures during the whole pe-
riod of our practical orientation in IFIC Bank PLC, we have learned that being one of the
7
Figure 1.4: Management Hierarchy of IFIC Bank PLC
Figure 1.5: Principle activities of IFIC Bank PLC

8
largest and oldest private commercial banks in Bangladesh, this bank serves people and the
government simultaneously.
1.2 Problem Identification

Upon on-site observation, the following problems regarding the banking system of IFIC
Bank have been identified:
• Problem-1: Low interest Rates

IFIC Bank provides a 2.00% annual interest rate for all savings accounts.
Though a savings account allows for storing money, having some interest from it and
taking out the money from the account when needed, holding all money in a sav-
ings account probably is not the best option because of the disadvantages of savings
accounts.
When interest rates are low, banks typically cannot reduce deposit rates significantly,
while the rates they charge on loans also decrease, affecting profitability. Lower in-
terest rates generally encourage borrowing, especially for large purchases like homes
or cars. To maintain profitability, some banks may take on higher-risk loans, such as
lending to borrowers with weaker credit profiles or offering larger loans. Low interest
rates can drive asset prices higher, particularly in real estate or the stock market, as
investors search for higher returns. This can result in asset bubbles, which, if they
burst, could lead to significant financial instability. Also, In some regions, regulators
may require banks to hold higher capital reserves to protect against potential defaults
or economic downturns exacerbated by low interest rates. This can limit the amount
of money banks can lend and further squeeze profits.
With lower interest rates, customers may find traditional savings accounts or time
deposits unattractive due to the minimal returns. This can lead to a reduction in the
bank’s deposit base, also customer retention.
• Problem-2: Withdrawal restriction

This bank’s savings accounts are not as flexible when it comes to moving money as
checking accounts. Anyone can deposit money in a savings account as many times as
he/she wants, but banking regulations restrict to six pre-authorized, automated, or
telephone transfers or withdrawals during any given month. But anyone can also do
as many transfers as you want to pay a loan at the same bank.
Withdrawal restrictions can lead to a loss of trust between the bank and its customers,
as well as increase the chance of damaging the bank’s reputation and making it diffi-
cult to retain or attract new customers.
9
If a large number of customers are unable to access their money, it can have broader
economic consequences. Reduced spending power can slow down local businesses,
leading to job losses and further economic strain in the community. On the other
hand, While withdrawal restrictions may temporarily alleviate liquidity pressures,
they may not solve the underlying problem if the bank is facing a deeper liquidity
crisis. Over time, restrictions can hurt customer retention and reduce the inflow of
new deposits, making liquidity issues worse.
Customer retention problems can further worsen the situation, since many customers
may not return to the bank for other services.
• Problem-3: Online and Mobile Banking Issues

Frequent downtime: IFIC Bank’s online and mobile banking services sometimes suf-
fer from outages or slow processing, especially during high-traffic periods, affecting
users’ ability to perform transactions efficiently.
Limited features: Users may find the IFIC Bank mobile app and online platform
especially the UI less user-friendly or lacking in advanced features compared to in-
ternational banks, which limits the functionality of services like fund transfers, bill
payments, and loan applications. For that, it is very hard to know about the current
status of someone’s own savings account. The existing app does not save any data
of transactions. For that, the customers have to re-enter all the information for each
transaction such as account number, name, branch name etc which can be tedious.
Additionally, the login transition is quite slow. Users can not log in properly if they
forget their credentials because the "Forgot Password" option does not work. Though,
IFIC Bank provides some messaging facilities to notify about transactions, many banks
offer greater interfaces and services through apps for customers.
Technical glitches: Users have occasionally reported bugs in the mobile banking
app, such as login issues, delayed transaction notifications, and errors in transaction
history. At the local IFIC Bank branch, some common mismanagement issues include:
• Problem-4: Mismanagement
Lack of an Information Desk: There is no clear point of contact in IFIC Bank Ra-
jshahi’s local branch. Without an information desk, customers often face confusion
regarding where to go for basic inquiries or assistance. This lack of direction can
lead to customers wasting time while figuring out which service counter to approach.
The absence of a dedicated information desk also means that there is no easy way
for customers to lodge complaints or get immediate answers to their questions. This
can result in frustration, especially for first-time visitors or those unfamiliar with the
bank’s procedures. In the absence of an information desk, front-line staff may be over-
burdened with simple inquiries, further slowing down the process for more complex
banking needs. There is a lack of basic amenities such as support for first-time users
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to navigate the bank’s services, such as opening an account, obtaining information on

loans, or using digital banking options.
Crowded and Unorganized Waiting Areas: The branch lacks proper management.
Without proper management at the branch, customers face chaotic lines or waiting
areas, with no staff to guide them or prioritize services based on urgency.
1.3 Conclusion
Through our initial investigation at IFIC Bank PLC, we have tried to define the scope of our
analysis and identified several problems within the system of the organization. Addressing
such issues, we will carry out further investigation while simultaneously moving along the
next stages of the system development life cycle.
Chapter 2
Initial Feasibility Analysis
2.1 Introduction
A feasibility study is a detailed analysis that considers all of the critical aspects of a proposed
project to determine the likelihood of its success. Throughout this chapter, we attempt to
elaborate on our findings during an initial investigation at IFIC Bank PLC and propose a
few suggestions.
2.2 Initial Feasibility study

Our initial investigation has brought forward several drawbacks of the banking system at
IFIC Bank PLC. Depending on our initial findings, we attempt to expand our survey into a
more detailed study. Considering major factors, we describe the problem and the require-
ments of a candidate system in the following sections.
2.2.1 Problem-01
2.2.1.1 Problem Statement
IFIC Bank provides lower interest rates compared to other private banks on savings ac-
counts.
2.2.1.2 Summary of Findings
Savings accounts will typically pay more interest than checking accounts, but not as high
a rate of return as one can achieve in other types of accounts like. Recently, IFIC Bank has
seen a decline in obtaining new customers. According to recent reports, the number of new
savings accounts opened at IFIC bank in the 2021-2022 timeline was around 1.2 Lakhs,
whereas the number declined to 80,000 thousand in the next year. Lower interest rates can
be identified as one of the root causes behind this scenario. The high contrast between the
interest rates of savings accounts and deposit accounts sheds light on the fact that the bank
seemingly needs to bring balance to its interest policy.
2.2.1.3 Details of findings
IFIC Bank offers the following interest rates, which impact customer decisions as following:
Savings Accounts: The annual interest rate on savings accounts is 2.00%, which is rela-
tively low compared to other private banks in Bangladesh.
Customer Impact: This lower rate can deter potential customers from opening savings ac-
counts, as they may seek higher returns elsewhere. The unattractive savings rate may slow
the bank’s ability to attract new depositors, ultimately affecting its growth and customer
base.
Deposit Schemes: IFIC Bank provides more competitive interest rates, ranging from 4%
to 10% annually, for various deposit schemes.
Customer Appeal: These higher rates offer better returns for long-term depositors, which
may attract customers interested in fixed-term investments.
Growth Opportunity: While these deposit schemes are more appealing, the bank’s reliance
on them to attract customers may not fully offset the impact of low savings account rates.
By addressing the disparity between the savings account and deposit scheme rates, IFIC
Bank could better balance customer acquisition and long-term business growth.
2.2.1.4 Recommendations
When a bank is operating in a low-interest-rate environment, it faces significant challenges

related to profitability, customer retention, and business growth. To cope with these chal-
lenges, banks must adopt various strategies to mitigate the effects of low rates. Based on
the findings of our initial survey, we recommend the following course of action for the
organization-
Diversifying Loan Portfolios: Diversity should be brought in revenue streams to deal with
customer losses. Partner with financial technology firms to offer innovative products like
digital payments, robo-advisory, or peer-to-peer lending services, which can generate new
streams of non-interest revenue.
Intoducing Cost-Cutting Techniques: Cost-cutting should be introduced wherever nec-
essary.Automating back-office processes like compliance checks, loan processing, and cus-
tomer service can lead to significant cost savings.
Attracting Borrowers: Loan-portfolio should be improved focusing on higher-yielding
loans.Expand lending into untapped or underserved markets such as small- and medium-
sized enterprises (SMEs), digital lending, or green financing (loans for environmentally
13
sustainable projects)and attracting more borrowers should be encouraged.

Deposit strategy: Prioritizing the increasing demand for low-cost deposits.
2.2.2 Problem-02
The bank imposes inconvenient withdrawal restrictions.
This bank’s savings accounts are not as flexible when it comes to moving money as checking
accounts. Anyone can deposit money in a savings account as often as want, but banking
regulations restrict to six pre-authorized, automated, or telephone transfers or withdrawals
during any given month. But anyone can also do as many transfers as you want to pay a
loan at the same bank.
2.2.2.3 Details of Findings
Withdrawal issues can occur when customers face difficulties accessing their funds, and they
can have a variety of causes—ranging from operational challenges to liquidity problems.
Some of them are discussed below:
Customer Trust: For banks or financial institutions, addressing withdrawal issues is critical
to maintaining customer trust, which may falter due to the restrictions.
Liquidity Management: During periods of financial uncertainty or panic, a large number
of customers might try to withdraw their funds simultaneously, which can deplete a bank’s
reserves. Withdrawal restrictions help prevent or slow down such a scenario by limiting
outflows and giving the bank time to stabilize.
Restrictions regarding ATMs: Without a MICR check or an ATM card, it is not possible to
withdraw money from any branch of IFIC bank other than the specific branch from which
the account was created. This creates a substantial issue in user experience leading to
inconvenient withdrawal. As a result, the bank fails to make a solid user base among the
Middle class and lower class.
Dealing with withdrawal restrictions can be complex, but the key solutions should focus on
strengthening the bank’s liquidity, maintaining customer trust, improving communication,
and ensuring regulatory compliance. Below are strategies that banks can adopt to solve or
mitigate the problems associated with withdrawal restrictions:
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Ensuring Liquidity: Adequate Liquidity must be ensured.Relying on multiple sources of

funding, such as wholesale funding, retail deposits, or short-term borrowing, can help banks
manage liquidity more effectively and avoid liquidity crunches that lead to withdrawal re-
strictions.
Monitoring Flow: Cash flow must be monitored.If withdrawal restrictions are mandated
or influenced by regulatory requirements, banks should closely coordinate with regulators
to ensure compliance while protecting customer interests. Clear communication with reg-
ulators also helps avoid legal risks.
Increasing Operational Efficiency: Operational efficiency should be prioritized.f restric-
tions are necessary, banks must clearly communicate the reasons to customers to avoid
panic. Transparency about the bank’s financial health and the reasons for restrictions helps
maintain trust.
Monitoring Frauds: Fraud and suspicious activities must be prevented.
2.2.3 Problem-03
Online and Mobile Banking Issues
Key Issue: Frequent outages and slow transaction processing on the bank’s online and mo-
bile platforms cause major inconvenience for customers.
Technical Glitches: Users report issues such as login failures, unresponsive apps, and in-
accurate transaction histories.
Limited Features: The mobile app lacks some advanced functionalities compared to other
banks, such as detailed loan tracking, automated bill payments, and instant notifications
for transactions. the UI is very outdated. Customers need to repeatedly enter login details
and account numbers which is tedious.
As per our investigation, the following issues have come up regarding online and mobile
banking issues:
Frequent Downtime and Slow Processing: Many users have reported issues with the
mobile app and online banking platform being down during peak usage times, such as
weekends or month-ends. These downtimes delay transactions, frustrate users, and affect
overall trust in the system.
Technical Glitches in Mobile App: Users frequently encounter login errors, transaction
history inconsistencies, and app crashes. In some cases, customers reported difficulties in
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transferring funds or making bill payments due to unresponsive or slow app behaviour.
Lack of Advanced Features: The current online and mobile platforms offer basic function-
ality but lack advanced services such as automated payments for recurring bills, customiz-
able savings plans, or integrated financial management tools that would enhance the user
experience. Additionally, the app lacks real-time transaction alerts and personalized bank-
ing offers, making it less competitive compared to other digital banking options available
in Bangladesh.
Lack of User-Focused Design: The app’s interface is not user-friendly, making it difficult
for customers, especially those who are not tech-savvy, to navigate through basic services.
The layout is cluttered, and key functions are buried within menus, making the user expe-
rience frustrating.
The lack of experienced developers and UI/UX designers is mainly the reason behind the
issues.
The main issues with the digital banking system mostly revolve around the poor construc-
tion and maintenance of the digital platforms hosted by the bank. In order to overcome
such problems, we have documented some of our recommendations below:
Improve System Stability and Scalability: Resources to enhance server infrastructure to
reduce downtime, particularly during peak usage times should be allocated. Load-balancing
techniques should be implemented .
Fix Technical Glitches with Regular Updates: Testing and debugging of the mobile app
should be done to resolve existing issues such as login failures, unresponsive interfaces, and
delayed transaction processing. A regular update cycle should be implemented to ensure
that technical bugs are addressed promptly and the system remains stable.
Expand Mobile and Online Features: Adding more advanced features to the mobile app,
such as: Automated bill payments: This allows users to set up recurring payments for util-
ities or loans. Real-time notifications: This implements instant push notifications for all
transactions. Loan and savings management tools: These include options for users to track
loan payments, interest accruals, and personalized savings plans.
Revamp User Interface and Experience: Simplify navigation, making key functions like
fund transfers, balance checks, and bill payments easily accessible from the home screen.
Conducting user experience research can be considered with existing customers to identify
pain points and improve the design based on their feedback.
Implementing these recommendations can significantly improve IFIC Bank’s online and
mobile banking platforms, enhance customer satisfaction, and ensure a more secure and
efficient banking experience.
16
2.2.4 Problem-04
The local IFIC Bank branch suffers from operational mismanagement, most notably the
absence of an information desk.
The lack of an information desk creates disorganization and confusion, causing frustration
for customers and inefficiency in branch operations.
Without proper direction, customers are forced to approach multiple counters, leading to
overcrowded waiting areas and delays in service. Front-line staff are overwhelmed with
basic inquiries, detracting from their ability to efficiently handle more complex banking
tasks. Lack of Customer Guidance: First-time visitors, in particular, struggle to understand
how to access various services, which affects their overall banking experience.
Our survey has brought forth some of the consequences of the poor mismanagement of the
bank, some of which are discussed below:
Reputation Damage: Due to mismanagement, the bank is perceived as unreliable, inef-
ficient, or unsafe and can suffer long-term damage to its brand, which may take years to
rebuild.
Poor customer service: Mismanagement can lead to long wait times, unresponsive cus-
tomer service, and inefficiencies in handling transactions, frustrating customers. In today’s
competitive banking environment, poor service can quickly lead to customer attrition, as
clients move to more reliable and efficient institutions.
Decline in Employee Morale and Productivity: Mismanagement often creates an ineffi-
cient work environment where processes are not clearly defined, and employees lack the
tools or training necessary to perform their jobs effectively. This can lead to frustration,
lower productivity, and a decline in work quality.
Inefficient processes: Poorly managed operations result in inefficiencies, such as slow
loan approvals, delayed transaction processing, or cumbersome customer onboarding pro-
cedures. Over time, these inefficiencies can cause the bank to lose its competitive edge as
more efficient rivals capture market share.
Mismanagement and disorganization place a heavy toll on workplace morale. As per our
detailed survey, we have put together a set of actions which can taken by the bank to deal
17
with such issues. Some of our recommendations are discussed below:
Placing an Information Desk: One of the most important issues to be handled is the
absence of an information desk. The desk should placed directly at the reception of the
building, with full-time staff. The staff should be trained on how to greet and interact with
customers as well as employees.
Re-organizing office space: Office space should be reorganized to cater for the needs of all
kinds of customers simultaneously. The cubicles of the officers should be placed in another
room from the transaction processes. Different departments should be placed in different
rooms. Enough space to accommodate the waiting lines should be ensured.
Facilities for Customers should be increased: Sitting arrangements for the customers
should be improved. Appointments should be introduced. A strict timetable should be
maintained to ensure customer satisfaction.
2.3 Conclusion
Throughout this chapter, we have tried to elaborate on the findings of our initial survey and
tried to present some recommendations based on our detailed survey.
Chapter 3
Information Gathering & Analysis
3.1 Introduction
Gathering information about existing systems is a key part of analyzing the feasibility of a
candidate system. The success of an analyst depends greatly on the proper utilization of
the information-gathering tools. Some of the prominent information-gathering tools are
interviews, questionnaires and on-site observation. Analysts need the help of these tools
to assess the effectiveness of the existing system and design the recommendations for a
candidate system.
3.2 Information Gathering

Information can be gathered through available documentation (manual, documents, flowcharts),
staff interviews, and on-site observations.
We collected information using two methods:
1. Online: Data was gathered from IFIC Bank PLC’s official website, which includes
details on products, services, and company information. Social media and different
search engines also came in handy in the primary information-gathering process. The
website comprehensively describes various products, such as savings and deposit ac-
counts, including interest rates and terms.
2. Offline (Physical): Additional information was obtained through visits to local branches,
where staff provided insights into services and product offerings. Visiting a local
branch allowed for face-to-face interaction with bank employees, who can answer
specific questions and provide tailored information. Local branches provide firsthand
access to detailed information about the bank’s products and services, including cur-
rent offerings, interest rates, and any promotional deals.
Figure 3.1: Information Gathering Process (Step 1)
3.2.1 Information Gathering Tools

There are several tools for gathering information like Review of literature, procedures and
forms, onsite observation etc. We believe information-gathering tools help analysts assess
the effectiveness and disadvantages of the current system.
3.2.2 Review of literature, procedures and forms

Procedure manuals and forms are useful sources for the analyst. They can describe the
format and functions of the present system. The manual always describes how well the
system is designed. Up-to-date manuals save hours of information gathering. To get infor-
mation about IFIC Bank, we have checked the website, searched the services they provide
and checked the reviews of their services.
1. Leaflet
Leaflets are a plan of the marketing plan of IFIC Bank PLC, using which they introduce
different bank services to the customer so that the customers can make their own decisions.
20
If the consumers need any assistance, there are dedicated helpline numbers in the leaflets
to help them as well.
Figure 3.2: Leaflet of IFIC Bank PLC

21
2. Forms The account opening form of IFIC Bank PLC appears to be detailed and com-
prehensive.
Figure 3.3: Account Opening Form (Page 1) of IFIC Bank PLC

22
Figure 3.4: Account Opening Form (Page 2) of IFIC Bank PLC

23
3. Tender
Tenders are public invitations for suppliers to submit a bid to supply specific goods or ser-
vices. A transparent, efficient tender process enhances a bank’s image by demonstrating
fairness, transparency, professionalism, and commitment to security and compliance.
Figure 3.5: Tender of IFIC Bank PLC

24
Figure 3.6: Tender of IFIC Bank PLC
4. Website Structure
Figure 3.7: Landing Page of IFIC Bank PLC with different banking services
25
5. Mobile Banking
This is our main point of focus. In the app store, many consumers have complained about
different issues of the IFIC Aamar Bank. So, we tried to investigate the problem. But, unfor-
tunately, without an existing account, it is not possible to enter into their app. So, we tried
to gather information and reviews which are available online and come up with a solution
based on what we got. These are some UI of existing mobile applications.
Figure 3.8: Main Figure 3.9: Account Figure 3.10: Opera-

Menu tors
Figure 3.11: UI of IFIC Aamar Bank app

26
6. Different Schemes Provided by Local IFIC Bank PLC
Figure 3.12: Savings Schemes

27
3.2.3 On-Site Observation

During my visit to the IFIC Bank branch, I made several key observations that highlight
areas of strength, as well as areas requiring improvement for enhancing customer experi-
ence and operational efficiency. These observations are based on firsthand experience and
reflections on the bank’s current services, infrastructure, and customer interaction points.
Due to Privacy, they did not allow many photographs of the insides to be taken.
Absence of an Information Desk

One of the most striking issues I encountered was the absence of a dedicated information
desk or help station. For new or prospective customers, the lack of clear guidance can lead
to confusion and frustration.
Delays in Customer Service

The branch staff, although polite, appeared to be overburdened with multiple tasks, result-
ing in significant delays in customer service.
Comfortable Seating Arrangement

The waiting area had ample seating, with comfortable chairs arranged neatly for customers.
Outdated Account Opening Process

The account opening process remains largely paper-based, as observed from the forms be-
ing used.
Cleanliness and Ambience

The overall cleanliness and ambience of the branch were satisfactory, with the premises
being well-maintained.
Adequate Lighting
The branch had bright, adequate lighting, which created a welcoming environment and
made the space feel open and spacious.
Professional and Friendly Staff Attitude

The staff, despite the rush, maintained a professional and friendly demeanour.
Availability of ATM Services

The branch had functional ATM services available both inside and outside the branch premises.
28
Figure 3.13: Outside of IFIC Bank PLC, Local Branch
Figure 3.14: Inside of IFIC Bank PLC, Local Branch

29
Figure 3.15: Inside of IFIC Bank PLC, Local Branch
3.2.4 Interviews
3.2.3.1 Interview with Branch Manager
Question: Thank you for sitting down with me today. I’d like to start by understanding the
overall structure of this branch. Could you describe how your bank is organized internally?
Branch Manager: It’s my pleasure. At the top level, we have a branch management team,
which I lead as the Branch Manager. I oversee operations and ensure that we meet our
targets in terms of both customer service and compliance. Under me, we have several key
departments: customer service, loan and credit services, account management, and opera-
tions, each with its own manager.
Question: How do these departments interact with each other on a daily basis?
Branch Manager: The customer service department is typically the first point of contact for
our clients, For example, if a client is interested in a loan, customer service connects them
with our loan and credit services team, which handles everything from loan assessments
to approvals. We have regular communication between departments to ensure seamless
service.
Question: That sounds well-coordinated. Could you explain the decision-making process
within the branch? Are most decisions made locally, or do they require approval from the
headquarters?
30
Branch Manager: Day-to-day operational decisions are made at the branch level. How-
ever, for bigger decisions, we follow a structured approval process. These decisions often
require us to submit proposals or requests to regional management or headquarters.
Question: And how about the technology you use? How does it support the bank’s work-
flow?
Branch Manager: We have a centralized banking system that all departments access for
managing customer accounts, transactions, and internal communication. Our digital plat-
forms, including mobile and online banking, are also integrated into the system, allowing
for seamless communication between the branch and our digital customers.
Question: Speaking of digital customers, how is the branch adapting to the increasing
shift toward online and mobile banking?
Branch Manager: We’ve adapted by training our staff to handle both digital and in-person
interactions efficiently. We also have a dedicated team that focuses on helping customers
transition to digital banking services.
Question: How do you ensure smooth communication between the branch and the head-
quarters or regional office?
Branch Manager: We have regular meetings with regional managers, who provide up-
dates on policies, new products, and compliance changes. Additionally, we use an internal
communications platform where important memos, policy updates, and performance re-
ports are shared. If any urgent issue arises, we have direct lines to key departments at the
head office, such as risk management or legal, so that we can act quickly.
Question: Let’s talk about customer service. What steps do you take to ensure your branch
provides excellent customer service?
Branch Manager: First, we focus heavily on training our staff, not just in technical banking
procedures but also in soft skills like communication and problem-solving. We also conduct
regular customer satisfaction surveys, which help us identify areas for improvement.
Question: How do you handle operational challenges, such as high customer footfall or
staff shortages?
Branch Manager: During peak periods, we monitor footfall patterns and adjust our staffing
31
accordingly. If we anticipate a surge in customers, such as during holidays or the end of the
financial year, we bring in additional staff or extend hours temporarily. For staff shortages,
we have a cross-training system.
Question: That’s a great strategy. Finally, what are some of the key challenges you face as
a branch manager, and how do you address them?
Branch Manager: One of the biggest challenges is balancing the need for excellent cus-
tomer service with strict regulatory compliance. Another challenge is managing evolving
customer expectations, especially with the rise of digital banking. We constantly adapt by
offering new services and ensuring our employees are up to date with the latest technology.
Question: Thank you so much for your insights. It’s been very informative to hear about
the inner workings of your branch.
Branch Manager: You’re welcome! It was a pleasure speaking with you.
3.2.3.2 Interview with Bank Employee
Question: Thanks for taking the time to talk with me today. Can you tell me a little about
your role at the bank?
Bank Employee: Of course! I’m a Senior Customer Service Representative at our branch.
My main responsibilities include assisting customers with their banking needs—whether
that’s opening accounts, resolving issues, or helping them understand our products like
loans, credit cards, or online banking.
Question: That sounds like a busy role. What does a typical day look like for you?
Bank Employee: It definitely keeps me on my toes! Every day starts with reviewing
emails and any updates from the branch manager or headquarters. We often have team
huddles in the morning to go over our goals for the day. Then, I’m on the floor helping
customers—most of whom need help with routine transactions like deposits, withdrawals,
or questions about their accounts. I also spend time setting up new accounts and handling
customer inquiries over the phone or via email.
Question: So, a lot of customer interaction. What’s the most rewarding part of your job?
32
Bank Employee: I enjoy building relationships with our regular customers too. Many
of them come back to me specifically because they trust me to get things done right.
Question: What are some of the challenges you face in your role?
Bank Employee: A big challenge is managing high customer expectations. Another chal-
lenge is keeping up with all the new products and changes in the banking sector. Technology
is changing fast, and we constantly have to adapt to new systems, processes, and tools.
Question: Speaking of technology, how has digital banking impacted your work?
Bank Employee: A lot of customers now handle their transactions online, so foot traf-
fic in the branch has decreased for routine things like checking balances or transferring
money. But at the same time, we’ve seen an increase in people needing help with things
like setting up online accounts or troubleshooting issues with mobile banking.
Question: That’s an interesting shift. How do you stay motivated with such a dynamic
workload?
Bank Employee: I think what keeps me motivated is the variety in my job and the team I
work with. Also, my colleagues are great. W Plus, the bank invests in training us regularly,
so I feel like I’m constantly developing new skills.
Question: You mentioned training—what kind of training do you receive at the bank?
Bank Employee: We go through a mix of technical and soft skills training. More recently,
we’ve had sessions focused on digital literacy, where we learn how to navigate our online
platforms so we can assist customers better.
Question: It sounds like you deal with a lot of sensitive information. How do you manage
security and privacy concerns?
Bank Employee: Absolutely. We follow strict protocols to protect customer information.

The bank has invested heavily in cybersecurity measures, and we are trained on best prac-
tices to avoid data breaches or phishing attempts.
Question: With all the interactions you have, what’s the most important skill for some-
one in your role?
33
Bank Employee: I’d say patience and communication. Customers need to feel heard and
respected, and that’s what builds long-term relationships.
Question: That makes sense. What’s the biggest change you’ve seen in banking during
your time here?
Bank Employee: Definitely the shift towards digital and self-service banking. But the in-
teresting thing is, that even though digital banking is more convenient, people still come in
for big decisions—like taking out a loan, planning for retirement, or discussing investment
options. There’s still a demand for face-to-face interaction when it comes to more complex
or important financial matters.
Question: It’s fascinating how personal banking still remains, even in a digital world. Any
advice for someone considering a career in banking?
Bank Employee: Definitely! It’s not just about numbers—it’s about solving problems, build-
ing relationships, and making a real impact on people’s financial lives. My advice would be
to stay curious, be adaptable, and always be willing to learn.
Question: Great advice. Thank you so much for sharing your experience with me today!
Bank Employee: You’re welcome! It was a pleasure speaking with you.
3.2.5 Questionnaire
3.2.4.1 Information Collection form(From Employee)
Please answer each Question by checking one:

1. What kind of services among the following do you mostly provide? (Mark all that ap-
plies)
a. Deposit Accounts
b. Loans and Credit Services
c. Payment and Transfer Services
d. Foreign Exchange and International Services
e. Insurance Products
f. Merchant Services
g. Others, please specify-
2. What are the main goals of your organization? (Mark all that applies)
a. Providing Quality Services
b. Making Profit
34
c. Bringing impactful change to the Banking industry

d. Revolutionizing Digital Banking
e. Others, please specify-
3. Do you think the Bank needs to bring changes in its policies regarding customer ser-
vice, interest rates and management?
a. Yes
b. No
c. Undecided
4. Do you think the Online and Digital Banking services provided by the Bank, need to
be improved?
a. Yes
b. No
c. Undecided
5. Do you think the Bank has been successful in fulfilling its organizational goals and
targets, in the last 5 years?
a. Yes
b. No
c. Undecided
6. On a scale of 1 to 5, how much satisfied are you with your job?

a. 1/5
b. 2/5
c. 3/5
d. 4/5
e. 5/5
7. On a scale of 1 to 5, how much would you rate your current organization as a Com-
mercial Bank?
a. 1/5
b. 2/5
c. 3/5
d. 4/5
e. 5/5
8. Have you ever thought about switching jobs?

a. Yes
35
b. No
9. What are the main challenges of working in this bank?

a. Bad working conditions
b. Pays low
c. Unrealistic demands
d. Employee-Management relationship
e. Others, please specify
10. On a scale of 1 to 5, how much would you rate the management of this bank?
a. 1/5
b. 2/5
c. 3/5
d. 4/5
e. 5/5
11. How would you describe your experience at this bank?

a. Very Good
b. Good
c. Average
d. Bad
e. Very Bad
12. Are you planning on staying on this bank for at least the next 5 years?
a. Yes
b. No
c. Undecided
13. What do kind of changes would you like to see in the organization? please describe.
14. What do you think are the main challenges faced by your organization right now? An-
swer:
15. Are there any additional comments you would like to make about your position or the
organization as a whole? Answer:
36
3.2.4.2 Information Collection Form(From Customers)
1. What kind of services among the following do you receive from the Bank? (Mark all that
applies)
a. Deposit Accounts
b. Loan and Credit Services
d. Merchant Banking
2. Have you ever taken services from another Bank?

a. Yes
b. No
3. What made you choose this Bank?(Mark all that applies)

a. Better Service
b. More Benefits
c. Others, please specify-
4. Do you use the Bank’s online and digital services?

a. Yes
b. No
5. On a scale of 1 to 5, how much would you rate your experience at this bank?
a. 1/5
b. 2/5
c. 3/5
d. 4/5
e. 5/5
6. Do you have thoughts about switching banks?

a. Yes
b. No
c. Undecided
7. Would you recommend your friends or family members to take services from this bank?
a. Yes
b. No
8. What are the main challenges you face in this bank?
37
a. Bad behaviour
b. Low profit
c. Mismanagement
e. Others, please specify
9. On a scale of 1 to 5, how much would you rate the management of this bank?
a. 1/5
b. 2/5
c. 3/5
d. 4/5
e. 5/5
10. Are you planning on staying on this bank for at least the next 5 years?
a. Yes
b. No
c. Undecided
11. How would you describe your experience at this bank?

a. Very Good
b. Good
c. Average
d. Bad
e. Very Bad
12. What do kind of changes would you like to see in the organization? Please describe.
13. What do you think are the main challenges faced by the organization right now? An-
swer:
14. Are there any changes you want to see in this organization? If yes, then what kind of
changes do you expect?
Answer:
15. Do you have any additional comments about the Bank?
Answer:
38
3.3 Analysis of Questionnaire
3.3.1 Information Collection Form (From Employees)

1. What kind of services do you mostly provide among the following?
a. Deposit Accounts
b. Loans and Credit Services
d. Foreign Exchange and International Services
e. Insurance Products
Graph:
Figure 3.16: Graph of most popular services
Conclusion: Deposit Accounts are the most popular service provided by the bank, closely
followed by loans and credit services. The other services closely compete with each other
in terms of popularity.
39
2. What are the main goals of your organization? (Mark all that applies)
a. Providing Quality Services
b. Making Profit
c. Bringing impactful change to the Banking industry
d. Revolutionizing Digital Banking
Graph:
Figure 3.17: Graph of priority of organizational goals
Conclusion: The most prominent organizational goal according to employees is providing

quality services to customers. Next comes making a profit, followed by bringing impactful
changes and revolutionizing the banking sector.
40
3. Do you think the Bank needs to bring changes in its policies regarding customer
service, interest rates and management?
a. Yes
b. No
c. Undecided
Graph:
Figure 3.18: Graph of Employee Opinion on Policy Reformation
Conclusion: About 12 people have said yes to policy reformation, on another hand 8 peo-
ple have voted for no and 5 have been indecisive. The graph highlights the fact that most
employees want policy reform. While a significant amount of employees are against refor-
mation, since the majority wants reformation, the bank should keep an eye on that.
41
4. Do you think the Online and Digital Banking services provided by the Bank, need to
be improved?
a. Yes
b. No
c. Undecided
Graph:
Figure 3.19: Graph of Employees opinion on improvement of online services
Conclusion: About 10 people have said yes to the improvement of online services, on
another hand 7 people have voted for no and 8 have been indecisive. The graph highlights
the fact that most of the employee wants improvement. Since the majority of the employees
want to have improvement on online/digital banking services, it is safe to say the bank
should go ahead on that path.
42
6. On a scale of 1 to 5, how much satisfied are you with your job?

a. 1/5
b. 2/5
c. 3/5
d. 4/5
e. 5/5
Graph:
Figure 3.20: Graph of Employees’ Job Satisfaction
Conclusion: Most of the employees have neutral opinions about their job experience, hence
it can be said that the majority of employees are not completely satisfied with their job.
The reasons behind the majority of employees being unsatisfied on their jobs could include
lower salary, lack of additional benefits, bad working environment, bad relationship with
superiors etc.
43
7. On a scale of 1 to 5, how much would you rate your current organization as a

Commercial Bank?
a. 1/5
b. 2/5
c. 3/5
d. 4/5
e. 5/5
Graph:
Figure 3.21: Graph of Employees’ Opinion on current organization
Conclusion: Most of the employees have neutral opinions about the current organization.
In general, most of them believe that the organization is mediocre. Most of the employees
are neutral about their job satisfaction. The image of bank in majority of the employees’
eyes could be seen through this graph. As the bank undoubtedly suffers from image issue,
more attention should be given to image building and branding.
44
3.3.2 Information Collection Form(From Customers)

1. What kind of services among the following do you receive from the Bank?
a. Deposit Accounts
b. Loan and Credit Services
d. Merchant Banking
e. Others, please specify- Graph:
Figure 3.22: Graph of most popular services
Conclusion: Most of the customers are mostly involved with the bank through deposit
accounts. Other services like loan and credit services, payment and transfer services etc are
relatively less popular among customers.
45
3. What made you choose this Bank? (Mark all that applies)
a. Better Service
b. More Benefits
c. Others, please specify-
Graph:
Figure 3.23: Graph of Bank benefits
Conclusion: Customers are mostly attracted to the bank because of its better service quality.
While a huge number of customers are also attracted to the bank because of increased
benefits and other things, it can be said that to the customer’s eyes, the banking services
provided by the bank are satisfactory.
46
4. Do you use the Bank’s online and digital services?

a. Yes
b. No
Graph:
Figure 3.24: Graph of Customers’ Digital/Online Service Usage
Conclusion: Most of the customers use the bank’s online/digital platforms. Even though a
large number of customers do not get involved with the online. digital services provided by
the bank, it can be safe to say, that the online/digital platform of the bank is quite popular
to the customers.
47
5. On a scale of 1 to 5, how much would you rate your experience at this bank?
a. 1/5
b. 2/5
c. 3/5
d. 4/5
e. 5/5
Graph:
Figure 3.25: Graph of Customer Experience
Conclusion: Most of the customers have average experience with the bank. Although,
some of the customers have both relatively good and bad experiences with the bank, the
average experience of majority of customers is an alarming concern for the bank authority.
48
6. Do you have thoughts about switching banks?

a. Yes
b. No
c. Undecided
Graph:
Figure 3.26: Graph of Customers’ Probable Switching of Banks
Conclusion: Most of the customers wishes to change banks. The reason behind this could
involve factors like low interest rates, bad customer services, inconvenient online platforms,
management problems etc. As alarming as this proposition is, the authority definitely
should be concerned about this fact, while redesignining their policies.
49
7. Would you recommend your friends or family members to take services from this
bank?
a. Yes
b. No
Graph:
Figure 3.27: Graph of Customers’ Probable Recommendation
Conclusion: Most of the customers do not wish to recommend the bank’s services to their
friends or close ones. The reason behind this could involve factors like low interest rates,
bad customer service, inconvenient online platforms, management problems etc. As alarm-
ing as this proposition is, the authority definitely should be concerned about this fact, while
redesigning their policies.
50
3.4 DFD of Existing System
3.4.1 DFD of Knowing the Current Account Status of a Customer

This diagram illustrates a flowchart representing a typical banking process for managing
account status and related data collection. Here’s a breakdown of the key stages:
1. Customer: The process starts with the customer. This represents the user initiating
the interaction with the system.
2. Check current status: After the customer enters the system, the first action is to
check the customer’s current status. This could involve retrieving the customer’s account
details or assessing their financial situation before proceeding further.
3. Give account info & money: Once the status has been checked, the next step is
for the system to provide account information and financial details (e.g., balances, trans-
actions). This interaction might involve both account data and monetary transactions or
updates related to the customer.
4. Verify Data: After providing the account information, the next step involves data
verification. This step ensures that the data provided (likely from the customer and the
system) is correct and consistent. It might involve checking the accuracy of the account
details, transactions, or user inputs.
5. Collect Data: Following the data verification, the system proceeds to collect the
necessary data. This could include transaction records, user inputs, or other relevant infor-
mation that the system needs to store or process.
6. Database: Finally, the collected data is stored in a database. This step ensures that
all relevant information is securely saved for future use, either for reporting, audit trails, or
further customer interactions.
Throughout the flow, arrows indicate the direction of data and process flow between
each stage, showing the progression from the initial customer interaction to the final data
storage in the database. This flowchart visually organizes the banking process in a step-by-
step manner, illustrating the movement of information from the customer to the bank and
back.
51
Figure 3.28: DFD For Knowing Current Account of Status
3.4.2 DFD of Money Deposit to the Bank

This diagram represents a basic flow of money deposits and account information updates
in a bank system. Here’s a description of the process shown:
1. Customer: The process starts with the customer who initiates a transaction. The
customer provides transaction information and interacts with the system.
2. Deposit money: The first action after the customer initiates the process is to deposit
money. This step suggests that the customer goes to the bank or interacts with the system
to submit money for the transaction.
3. Give account info & money: After the deposit, the system gives the customer’s ac-
count information and the relevant financial details (possibly the deposited amount). This
also indicates that the system provides account details as part of the transaction process.
4. Wait for the process: At this stage, the system waits for the process to complete.
The request has been submitted, and the system processes the transaction or checks the
required data.
5. Verify Data: The system then moves to verify the data. This verification checks that
the details provided (such as account information or transaction data) are correct and valid.
6. Request: A request for data or action is initiated, likely as part of the verification
or transaction handling. The request flows back to previous steps to ensure the process
continues correctly.
7. Update account info: Once the data has been verified, the system updates the ac-
52
count information. This could mean updating balances, reflecting the deposit, or modifying
transaction records.
8. Transaction Information: Transaction information is generated and recorded. This
may refer to the actual details of the customer’s transaction, which are passed along and
stored as part of the overall process.
9. Database: The final step involves storing all relevant information in a database.
This ensures that the transaction and updated account data are securely saved for future
reference.
Throughout the diagram, arrows indicate the flow of data between the customer, various
transaction steps, and the database. Some external interactions such as "Give transaction
information" and "Request" suggest the involvement of different systems or components in-
teracting with the main process.
Figure 3.29: DFD For Money Deposit

53
3.4.3 DFD of Withdrawing Money from the Bank

The diagram outlines the money withdrawal process and highlights several key steps in
how a customer interacts with the system, including interactions with bank systems and
databases. Here’s a detailed breakdown:
1. Withdraw Money: This is the initial action taken by the customer when they want
to withdraw money from their account. The customer starts by selecting either of two
available paths to process the withdrawal.
2. Two Withdrawal Paths: The diagram shows two distinct methods by which the
customer can proceed:
2(a) Give Cheque: The customer may choose to visit the bank and withdraw funds by
submitting a cheque.
2(b) Give Account Info: Alternatively, the customer can visit the nearest ATM booth to
withdraw funds. At the ATM, the customer would need to provide account information,
such as a PIN or card details. Both paths lead to the next phase where a request is sent for
further processing.
3. Request Handling: After choosing either the cheque or ATM route, a request is
made for withdrawal processing. This involves communication between the customer’s
interaction and the back-end system, which checks whether the request can be fulfilled
based on the account’s balance and status.
4. Verify Data: The system moves on to a verification phase, where the provided ac-
count information, withdrawal amount, and other transaction-related data are validated.
This step ensures that the customer’s request is legitimate and that they have suffi-
cient funds available for withdrawal. The account information is retrieved from the bank’s
database for cross-verification.
5. Update Account Info: Once the verification is successful, the system proceeds to
update the account information. This involves: Deducting the withdrawn amount from the
customer’s balance. Creating a record of the transaction to ensure the bank’s database is
updated with the latest transaction data. The transaction details are recorded in the system
to maintain a trackable history.
6. Transaction Information: After updating the account, the system generates trans-
action information, which includes the details of the withdrawal (e.g., amount, date, time,
location, etc.). This transaction information is then stored securely for future reference and
reporting.
7. Database Update: The database is updated with the latest account and transaction
data. This ensures the customer’s account reflects the changes made during the withdrawal
process.
The transaction is stored in the database for further auditing, reporting, and account
management. By this method, customers can withdraw money either through a bank using
54
a cheque or via an ATM using account information. This process ensures that the customer’s
transaction is valid and that funds are available. After verification, the customer’s account
information is updated in the bank’s database, reflecting the withdrawal. A secure record
of the transaction is generated and stored for future use.
Figure 3.30: DFD For Money Withdraw
3.5 Detailed Feasibility Analysis

A feasibility study tests the viability of an idea, a project or even a new business. The goal
of a feasibility study is to emphasize potential problems that could occur if a project should
be pursued.
The purpose of the feasibility study is to present the project parameters and potential solu-
tions to the defined problem. Project constraints and limitations of expenditure are among
the various factors that will determine viability. After brainstorming various potential so-
lutions, we tried to elaborate on each of the solutions. We have tried to obey three key
considerations which are involved with feasibility analysis- Economic feasibility, Technical
feasibility and Behavioral feasibility.
55
As we have studied the present system of IFIC Bank PLC, we have concluded three
potential candidate systems, which are discussed in detail in the following sections.
3.5.1 Candidate System-I(Core Banking System Upgrade)

This system works on core banking system upgrades. The details of the system are discussed
below:
1. Upgrading a core banking system is a complex process that involves replacing or en-
hancing the main software and hardware that a bank uses to manage its daily operations.
The core banking system typically handles essential functions like transaction processing,
account management, loan servicing, and more. The bank first evaluates why an upgrade
is necessary, such as to improve performance, integrate new digital services (e.g., mobile
banking), comply with new regulations, or reduce operational risks.
2. This system requires significant hardware and software upgrades, including server
infrastructure, database scaling, and cloud integration. Also, additional requirements in-
clude high-level technical expertise, but the bank’s current IT staff can handle the upgrade
with some vendor support.
3. The system aims to provide improved transaction speed, scalability for future growth,
and enhanced integration with digital banking platforms. It would streamline back-office
operations and improve customer experience. Although staff would require training on new
system functionalities, as the interface is familiar, the learning curve is moderate.
4. The financial analysis of the given system is shown below:

Initial investment: 3 million BDT.
Annual maintenance: 500,000 BDT.
Training: 100,000 BDT.
Improved operational efficiency, reduced transaction times, and fewer errors could lead to
cost savings of 1.5 million (approximately) annually.
Break-even: (Around) 2.2 years.
5. Some challenges have arisen regarding this candidate system, some of which are-
transitioning from legacy systems could cause operational downtime, integration with third-
party apps could be complex, staff could be reluctant to adapt, core policy change may take
unprecedented time etc.
56
3.5.2 Candidate System-II (Mobile Banking Application Improvement)

This system works on improving mobile/digital banking systems. The details of the systems
are discussed below:
1. This system focuses on enhancing the existing mobile platform by adding features,
improving performance, and providing a better user experience. The goal is to make the
system more user-friendly, secure, and efficient to meet evolving customer needs. This
includes better UI/UX design, better security measures, optimizing load time, developing
offline functionality, introducing new features, expanding service areas etc.
2. The system requires the re-development of mobile applications for iOS and Android,
including robust security measures, encryption, and real-time transaction capabilities. Ad-
ditional requirements include outsourcing to a mobile app development company with fin-
tech experience. The bank’s IT team can manage backend integration.
3. This system aims to enable customers to conduct banking transactions on the go,
apply for loans, and manage investments, improving customer convenience, more conve-
niently. Minimal staff training is required. Customers would need user-friendly guidance
to adapt to the changes in the app.

Development and launch: 1.5 million BDT.
Maintenance and updates: 200,000 BDT annually. Marketing and customer onboarding:
250,000 BDT.
However, the benefits include an expected increase in customer base, additional revenue
from transaction fees, and reduced branch traffic, with a projected revenue increase of 2
million annually. Break-even can be considered approximately at 1.25 years.
5. Some of the major challenges include security risks and ensuring compatibility with
the core banking system, customers’ and staff’ reluctancy to adapt etc.
3.5.3 Candidate System-III(Cloud-Based Customer Relationship Man-

agement (CRM) System)
This system aims to develop a cloud-based customer relationship management process. The
details of this system are discussed below:
1. A cloud-based Customer Relationship Management (CRM) system aims to help busi-

57
nesses manage their interactions with customers, streamline sales, marketing, and customer
service processes, and improve overall customer satisfaction. By leveraging the cloud, these
systems provide real-time access to data, collaboration tools, and analytics, allowing busi-
nesses to operate more efficiently and make informed decisions.
2. The main goal is to store and organize all customer information (e.g., contact details,
transaction history, preferences) in a centralized, cloud-based database that can be accessed
from anywhere. This system can provide a single source of truth for customer information,
ensuring consistency and accuracy across departments (sales, marketing, customer service).
3. The system requires migration of customer data to a cloud-based platform, integra-

tion with existing banking systems, and ensuring data security. Though implementation
would need external consultants, the bank’s IT team can handle routine operations.
4. This positively impacts customer relationship management by offering personal-

ized services, tracking customer interactions, and automating marketing campaigns. Im-
proves staff efficiency and customer retention. Although significant training is required for
customer-facing staff to utilize CRM tools effectively.

Implementation: 2 million BDT.
Licensing and cloud fees: 400,000 BDT annually.
Training and support: 150,000 BDT.
Benefits include expected customer retention by 15%, an increase in cross-selling opportu-
nities, and an additional 1.8 million in annual revenue. Break-even is calculated approxi-
mately at 1.5 years.
3.5.4 Comparative Analysis of Candidate Systems

A comparative analysis of the proposed candidate system is shown below:
The evaluation matrices are also shown below:
58
Figure 3.31: Comparative analysis of proposed candidate systems
Figure 3.32: Performance Evaluation Matrix

59
Figure 3.33: Cost Evaluation Matrix
Figure 3.34: Qualitative Evaluation Matrix
Upon analysis, it can be seen that, among all the proposed systems, candidate system-2
is the most efficient, both cost and time-wise.
3.5.5 Recommendation
Based on the feasibility analysis, System 2: Mobile Banking Application Improvement is the
most feasible option in the short term due to its: Lower initial cost and shorter break-even
period (1.25 years).
Significant customer demand for mobile banking solutions, which is likely to improve
customer retention and attract new customers quickly. Lower technical risks, as it can be
integrated with the bank’s current systems with minimal downtime. Upgrading an existing
mobile application typically requires a lower investment than overhauling the entire core
banking system or launching a completely new platform. The bank can build on its existing
mobile infrastructure rather than starting from scratch, reducing both time and costs. Sys-
tem 2 improvements can often be rolled out incrementally and more quickly compared to
a complete system transformation. The bank can deploy new features, security upgrades,
60
and performance improvements in stages without disrupting daily operations. With fea-
tures like a customizable dashboard and personalized recommendations, System 2 allows
the bank to tailor the app to individual user needs. This results in a more engaging expe-
rience, leading to increased usage and customer satisfaction. Also, cybersecurity threats
are a major concern in mobile banking, with phishing, fraud, and data breaches becoming
more sophisticated a key aspect of System 2 is to enhance security through features like
biometric authentication, two-factor authentication (2FA), and real-time fraud detection.
This will protect both the bank and its customers from potential security threats, fostering
trust in the system.
However, in the medium to long term, combining System 2 with System 3 (CRM) would
provide a comprehensive solution by improving both customer-facing services and internal
efficiency.
3.6 Cost-benefit Analysis

We know, cost and benefits analysis is a process by which organizations can estimate the
cost and benefits of decisions, systems or projects to find the most effective alternatives. By
providing a clear view of the results of an action, cost-benefit analysis is an extremely useful
tool in developing business strategy, evaluating a new hire, or making resource allocation
or purchase decisions. So, we developed a cost 23 and benefit analysis model in this report.
Our model is developed by defining the benefits of a decision as well as the associated costs
and subtracting the costs from the benefits.
3.6.1 Cost Breakdown

A break-down of the costs involving the candidate system has been shown below:
Our goal is to improve the bank’s online and mobile banking system to enhance customer ex-
perience, reduce manual processes, and attract new users. The total costs primarily involve
software development, third-party services, hardware upgrades, licensing, staff training,
annual IT support, marketing etc. The most costly part is developing the software for bank-
ing. With the annual ongoing cost being 2,350,000 BDT, the total cost of implementing a
new software system would be 650,000 BDT.
3.6.2 Benefits Breakdown

A break-down of the costs involving the candidate system has been shown below:
As per our calculations, the main benefits of the candidate system include annual increased
revenue, reduced transaction processing cost, reduced physical branch overhead and cost
61
Figure 3.35: Cost Breakdown
Figure 3.36: Benefit Breakdown

62
saved by improved retention rate. The total benefits add up to 14,00,00,000 BDT, which
surpasses the annual cost fairly.
3.6.3 Break-Even Analysis

A Break-Even Analysis helps determine when the benefits of an investment will cover its
costs. For the mobile/online banking system improvement, we want to calculate the break-
even point, where the total cumulative benefits equal the total cumulative costs. The sum-
mary of our cost-benefit analysis is shown below:
Initial Costs: This is the up-front investment needed to implement the system. In this case,
it’s 23,50,00,000 BDT.
Ongoing Costs: These are the yearly costs required to maintain the system (e.g., IT sup-
port, maintenance), which total 6,50,00,000 BDT annually.
Annual Benefits: The system is expected to generate 14,00,00,000 BDT in annual benefits
(new revenue, cost savings, customer retention, etc.).
Net Annual Benefit: Each year, the system generates 7,50,00,000 BDT in net annual ben-
efits (total annual benefits minus ongoing costs).
The break-even analysis table showing the cumulative costs and benefits over time, along
with the net benefits each year, is given below:
Figure 3.37: Cumulative Costs and Benefits Analysis
To calculate the break-even point in years, we use the formula where we divide initial
costs(23,50,00,000 BDT) by net annual benefits (7,50,00,000 BDT). The result nearly sums
up to 3.13 years. The break-even analysis graph is shown below:
63
Figure 3.38: Break-Even Analysis Graph
3.7 Conclusion
A feasibility study is conducted to select the best system that meets performance require-
ments. This process includes the evaluation of a candidate system and the selection of the
best system for the job. Three key considerations are mainly involved in the analysis- eco-
nomic, technical and behavioural. We have tried to discuss in detail the existing system,
identify its shortcomings and provide some suitable candidate systems. In conclusion, we
have tried to present an entire overview of our detailed survey at IFIC Bank PLC.
Chapter 4
Design
4.1 Introduction
Both forms and databases are foundational to the success of any system. Forms are essential
for efficient data entry and user interaction, while databases ensure the secure, scalable,
and organized storage of that data. Together, they enable smooth operations, accurate data
management, and informed decision-making, making them vital for any well-functioning
system.
4.2 DFD of the Proposed Candidate System

The updated data flow diagram introduces a significant change aimed at strengthening the
security of the customer interaction process, specifically focusing on preventing unautho-
rized access to sensitive account information. This change is represented by the red box at
the top of the diagram, which describes the addition of an authentication step.
4.2.1 Inquiring Account Status

New Authentication Step (PIN/Password)
The introduction of an authentication phase ensures that customers must authenticate
themselves using a PIN or password before proceeding with any transaction. This step
adds an extra layer of security, protecting the system from unauthorized access to account
information. By incorporating this measure, the system can verify the customer’s identity
at the beginning of the process, ensuring only legitimate users can access their account data
and conduct transactions.
This addition enhances the security posture of the system without significantly altering the
overall workflow. The authentication step acts as a safeguard, ensuring that the transaction
65
data and account details remain secure throughout the entire process.
Changes Due to Authentication Step:

Improved Security: By verifying user identity early in the process, the system ensures that
sensitive information is accessible only to legitimate users.
Data Integrity: Ensures the data retrieved, transferred, or modified is handled in a secure
manner and associated with an authenticated individual.
User Trust: Customers are more likely to trust a system that requires authentication before
providing access to financial details.
Protects Against Data Breaches: Authentication protects both the user and the system
from malicious actors who might try to gain unauthorized access.
The authentication step in the flowchart is a crucial addition to secure the customer’s ac-
count data and transactional processes. It can be implemented using various methods (SFA,
2FA, MFA) depending on the desired security level. Ensuring strong authentication is es-
sential to protecting both user data and the system from unauthorized access and potential
fraud.
Figure 4.1: Proposed DFD of Knowing Account Status

66
4.2.2 Money Deposit

This updated diagram introduces two key improvements to the security and robustness
of the system. In addition to the previously described authentication step, the new flow
incorporates an encryption/decryption process for transaction information, ensuring that
sensitive data is securely handled within the system. These updates are described in the
two red boxes.
Authentication Step (PIN/Password)
As in the previous version, the system begins with an authentication phase where the cus-
tomer must enter their PIN or password. This step is critical for securing access to the
system, ensuring that only authorized users can initiate transactions or update account in-
formation.
Encryption/Decryption
The process involves encrypting transaction data before it is stored in the database and
decrypting it when needed. This ensures that sensitive transaction data is stored securely,
protecting it from unauthorized access or breaches.
Encryption of Transaction Information: Before transaction information is saved in the
database, it is encrypted to make sure the data is unreadable and secure. Encryption adds
a layer of security to sensitive data like account balances, transaction histories, or personal
financial details.
The decryption of Transaction Information: When the data is needed (e.g., for user
queries or financial analysis), it is decrypted to its original, readable form. This ensures
that only authorized systems or individuals with decryption keys can access the informa-
tion.
Changes Due to Encryption/Decryption Step:
Increased Security: Storing encrypted transaction data in the database makes it much
harder for attackers to access sensitive financial information even if they manage to breach
the database.
Compliance: Many regulations (such as GDPR or PCI-DSS in the financial sector) require
encryption of sensitive data to protect customer information.
Cashflow Analysis: As highlighted, storing transaction information helps with investigat-
ing transaction history and analyzing user cash flow. With encryption in place, this analysis
is secure and trustworthy.
The encryption/decryption step adds a robust layer of security for handling sensitive
transaction data, preventing unauthorized access, ensuring regulatory compliance, and
maintaining data integrity. It makes the overall system more secure and reliable when
dealing with personal financial information.
67
Figure 4.2: Proposed DFD of Money deposit

68
4.2.3 Money Withdrawal

Just like the Money Deposit process, the Money Withdrawal process adds Authentication
and Encryption/Decryption steps as an enhancement. In the diagram, the changes high-
lighted with red boxes are:
Authentication Step: An additional authentication step (PIN/Password) is introduced
after the customer initiates a transaction. This step is labelled as a measure to enhance
security and prevent unauthorized access to account information. Authentication ensures
that only authorized users can access and initiate sensitive transactions, such as withdraw-
ing money. It verifies the identity of the customer before allowing them to interact with
their account.
Encryption/Decryption Process: A new step at the end involves encryption/decryption
of transaction information stored in the database. This step ensures the system’s robust-
ness by encrypting sensitive transaction data, which can be used for future investigation
and cash flow analysis. These changes focus on strengthening the security aspects of the
system by adding an extra layer of authentication and encrypting stored data. Changes
Due to the Proposed Steps
Prevents Unauthorized Access: By requiring authentication (e.g., passwords, PINs, bio-
metric scans), the system ensures that only the rightful account holder can withdraw money.
This helps prevent unauthorized withdrawals, fraud, or identity theft.
User Verification at Different Touchpoints: Whether the withdrawal is made via cheque
at a bank or through an ATM, authentication confirms the identity of the customer at the
point of interaction. This prevents malicious actors from accessing the account even if they
physically have access to the ATM or a cheque.
Enhanced Security During Account Interactions: Authentication protects all touchpoints
(bank, ATM, or online) by providing a layer of security that ensures the user’s identity is
verified before money is withdrawn.
Multi-Factor Authentication (MFA): For even greater security, implementing multi-factor
authentication (requiring multiple credentials like a combination of PINs, biometrics, and
one-time codes) provides additional barriers for malicious actors attempting to imperson-
ate a legitimate customer.
69
Figure 4.3: Proposed DFD of Money Withdraw

70
4.3 Database Design

A database is the system’s core for storing, organizing, and managing data, ensuring that
the information collected via forms is efficiently processed, retrieved, and analyzed. A
well-designed database ensures that data is logically organized, typically in tables with
relationships between them (e.g., customer data, transaction data). This structure enables
the system to efficiently store and retrieve data, supporting smooth operations and allowing
for complex queries and reports. Database design focuses on maintaining data integrity
(accuracy and consistency) through the use of constraints, normalization, and relationships
between entities (e.g., primary keys, and foreign keys). This ensures that data remains
consistent, accurate, and up-to-date, avoiding duplication and conflicting information that
could compromise business operations.
4.3.1 Database Schema

The skeleton structure of a database schema is the logical picture of the entire database.
It outlines the structure of the data and the relationships that connect them. A database
schema identifies the relationships between its entities. It includes a description of the
database that can be illustrated using a schema diagram. The database designers create
the schema to make the database easier for programmers to understand and use. In a
banking system, the entities will typically involve customers, accounts, transactions, loans,
and employees. Below is the proposed schema with entities and relationships:
Database Schema for Banking System:
• Customer (customer_id: int, name: string, address: string, nid: int, phone: int)
• Account (account_id: int, account_type: string, balance: decimal, date_opened:

date, customer_id: int)
• Transaction (transaction_id: int, transaction_date: date, amount: decimal, transac-

tion_type: string, account_id: int)
• Loan (loan_id: int, loan_type: string, loan_amount: decimal, interest_rate: decimal,

loan_date: date, customer_id: int)
• Branch (branch_id: int, branch_name: string, address: string)
• Employee (employee_id: int, name: string, position: string, branch_id: int)
• Loan_Payment (payment_id: int, payment_date: date, amount: decimal, loan_id:

int)
• Account_Holder (Junction Table for Customers with Multiple Accounts: customer_id:

int, account_id: int, PRIMARY KEY (customer_id, account_id))
71
4.3.2 ER Diagram
An ER diagram (Entity-Relationship diagram) is a graphical representation of the entities
(objects, concepts) and the relationships between them within a system, typically used in
database design. ER diagrams help visualize how data is structured and how different
elements within a system are interconnected. The components of an ER diagram include
entities, attributes, relationships, cardinality, primary keys and foreign keys. ER diagrams
provide a clear representation of the data structure and relationships, ensuring the logical
organization of information. Helps database designers understand how data will be stored
and managed, preventing data redundancy and ensuring data integrity.
Figure 4.4: ER Diagram of the candidate system
4.4 Form Design

Forms act as the interface through which users interact with the system. They are critical
for data collection, processing, and user engagement. Forms are designed to capture data
in a structured and consistent manner, ensuring that users provide accurate and relevant
information. Benefit: By creating well-designed forms, organizations can minimize user
errors and ensure the quality of the data collected.
72
4.4.1 Details of findings:

The main form of IFIC Bank is the account opening form. The form is discussed below
below:
The first part of the form contains fields like date, customer ID, party ID, account number
etc. which are to be filled out by the bank.
The upper right corner is reserved for attaching the customer’s passport-sized photo.
The second part contains fields for filling out account-related information and the third
part contains a file for filling out the personal information of the customer.
The form consists of two pages, where the first page contains questions about the customer’s
information and the second page contains questions about the nominee’s information and
space for declaration and signature.
The overall design of the form is detailed and comprehensive, although the design seems a
bit compact and messy.
The form needs to be redesigned to improve the visuals and be easier for the customers
to read and fill out.
4.4.2 Recommendations
Some of our recommendations based on analysis of the forms are given below:
Separating the parts belonging to banks and customers: As per the original design,
the part that is reserved for filling out by the bank is almost segregated from the other
parts. Also the text "For bank use only" is written in a very small font and is hard to read.
This could confuse new customers.
Using larger font size: The font used in the form is very small. Even if it helps to limit the
size of the form to two pages, it makes the form difficult to read. Using a larger font size
could help solve this problem.
Using a more sophisticated blend of colours: The form could use better colour coordina-
tion. Some of the writings are done on a green background, which makes it harder to read.
Redesigning the nominee’s section: The nominee’s section seems more compact and
messy than the rest of the form. There is barely enough space to fill up the information.
Also, the instructions are written in very small spaces which makes them almost unreadable.
This part alone hampers the overall aesthetic of the form. This part needs to be rearranged
73
neatly.
Increasing the space reserved for signature: The space reserved for signature is compar-
atively smaller than other fields in the form. Since, the customer has to write his name, and
mobile number and then sign the document, that field must have enough space.
4.5 UI Design
Since the IFIC Bank Mobile app has several problems per the users for example: the "Forgot
Password" option does not work, the absence of auto-fill options etc, we focused on an
interactive user-friendly design of UI. A mobile app nowadays works as a digital form. To
improve the user interface (UI) and functionality of the IFIC Bank mobile app and online
platform, we focused on the following key areas:
1. User-Friendly Design: The new design has a streamlined navigation system, simpli-
fied menus and options to make navigation intuitive. It uses clear labels, icons, and visual
cues. It also has a modern aesthetic. It updates the UI with a cleaner, more modern look,
using a consistent colour scheme, typography, and spacing.
Figure 4.5: Home Page of the New App

74
2. Save Transaction Data: Transaction Autofill: The new design implements a system
that saves frequently used data (like account numbers, names, and branches) securely to
minimize user input for repeated transactions.
History & Recurrence: It allows users to easily repeat past transactions by showing a history
of previous ones and enabling recurring payments or transfers.
Figure 4.7: Transfer Money
Figure 4.6: Transfer Money
Figure 4.8: Autofill of Sensitive Information

75
3. Credential Recovery: The new design fixed the "Forgot Password" feature. It ensures
the “Forgot Password” function works reliably. It also provides multiple recovery methods
(email, SMS, security questions, or biometric authentication).
It also provides Multi-Factor Authentication(MFA) and offers users the ability to add an
extra layer of security for login through OTPs (one-time passwords) or biometrics like fin-
gerprints or face IDs.
Figure 4.9: Forgot Password Figure 4.10: Forgot Password
Figure 4.11: Credential Recovery

76
4.6 Conclusion
Both forms and databases are foundational to the success of any system. Forms are essential
for efficient data entry and user interaction, while databases ensure the secure, scalable,
and organized storage of that data. Together, they enable smooth operations, accurate data
management, and informed decision-making, making them vital for any well-functioning
system.

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Rajshahi University of Engineering & Technology

Course No: CSE 4108

Course Title: Sessional Based on CSE 4107

System Analysis and Design of

Md. Iqbal Haider Khan 1903041

Barisha Chowdhury 1903046

Noshin Tamanna 1903053

Raiyan Mostofa Yead 1903059

Dr. Md. Rabiul Islam

Department of Computer Science & Engineering

Rajshahi University of Engineering & Technology

Date: October 6, 2024

2 Initial Feasibility Analysis 11

3 Information Gathering & Analysis 18

1.1 Current logo of IFIC Bank PLC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

3.1 Information Gathering Process (Step 1) . . . . . . . . . . . . . . . . . . . . . . . 19

4.1 Proposed DFD of Knowing Account Status . . . . . . . . . . . . . . . . . . . . . . 65

Figure 1.1: Current logo of IFIC Bank PLC

Figure 1.2: Percentage of shares of IFIC Bank PLC

Figure 1.3: The Current Profile of IFIC Bank PLC

The management structure of the Bank is shown below:

Figure 1.4: Management Hierarchy of IFIC Bank PLC

Figure 1.5: Principle activities of IFIC Bank PLC

1.2 Problem Identification

• Problem-1: Low interest Rates

• Problem-2: Withdrawal restriction

• Problem-3: Online and Mobile Banking Issues

to navigate the bank’s services, such as opening an account, obtaining information on

Initial Feasibility Analysis

2.2 Initial Feasibility study

2.2.1.1 Problem Statement

2.2.1.2 Summary of Findings

2.2.1.3 Details of findings

When a bank is operating in a low-interest-rate environment, it faces significant challenges

sustainable projects)and attracting more borrowers should be encouraged.

2.2.2.1 Problem Statement

The bank imposes inconvenient withdrawal restrictions.

2.2.2.2 Summary of Findings

2.2.2.3 Details of Findings

Ensuring Liquidity: Adequate Liquidity must be ensured.Relying on multiple sources of

2.2.3.1 Problem Statement

Online and Mobile Banking Issues

2.2.3.2 Summary of Findings

2.2.3.3 Details of Findings

2.2.4.1 Problem Statement

2.2.4.2 Summary of Findings

2.2.4.3 Details of Findings

with such issues. Some of our recommendations are discussed below:

Information Gathering & Analysis

3.2 Information Gathering

We collected information using two methods:

Figure 3.1: Information Gathering Process (Step 1)

3.2.1 Information Gathering Tools

3.2.2 Review of literature, procedures and forms

Figure 3.2: Leaflet of IFIC Bank PLC

Figure 3.3: Account Opening Form (Page 1) of IFIC Bank PLC

Figure 3.4: Account Opening Form (Page 2) of IFIC Bank PLC

Figure 3.5: Tender of IFIC Bank PLC

Figure 3.6: Tender of IFIC Bank PLC