EMERGING Functions and features of proposed application system




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Banking Application


Done by:

 Khairul Asyraf 155114Z

Nicholas See 153037E

Foo Sze Kye 152619N

Sandy Tang 155601A


Tutor Name: Ms Teo Miow Ting






Content Page


Task Allocation                                                                                                                 3
Introduction/Business Model                                                                                         4
Information                                                                                               4
Model                                                                                                            4
Functions and features of proposed application system                                           7
Technology employed                                                                                                     7
Mock Screens                                                                                                                 10
Conclusion                                                                                                                      12
Appendix                                                                                                                         13





















Khairul Asyraf

?      Introduction/Business Model
?      Technology Employed
?      Mock Up Screens

Foo Sze Kye

?      Functions and Features
?      Technology Employed
?      System Architecture Design

Nicholas See

?      Introduction/Business Model
?      Functions and Features
?      Conclusion

Sandy Tang

?      Functions and Features
?      Technology Employed




















Background Information


a customer has accounts/credit cards across various banks and use them for
assorted services (retail purchases, dining, travel and entertainment). The
customer has to manage these separately by using various bank apps – to check
balances for each of these products (bank-wise), make payments etc. 

are to envisage and design one banking app which will consolidate all essential
and commonly used services (including those listed above) across different
banks for the banking needs of the customer.  


Customer Segments

Customer jobs

The customer that
feels annoyed by the constant switching of applications and not having a
concise ledger of their finances. These customers want to maximise their
control over their finances and be constantly informed of their financial


Customer feels annoyed that they need to compile all their
finances manually.
Customer is distressed as they have to check for mistakes or
inconsistencies after compiling their finances
Customer feels irritated that they miss out card promotions in
retailers because they had no knowledge of it prior


Customers will feel safe to use the application due to the
security features that has been implemented into this application (2FA and
Fingerprint Login)
Customers will feel at ease and relax as compiling of their
finances would be so much easier
Customers will feel proud to use the application as they can enjoy
a lot of bank services in the application

Value Proposition

Products and services


Online bill payment
Transfer money from one bank account to another. Allow users to
transfer money to someone who has the application using NFC technology
Check balances Account Balances, Different Credit Card balances
Apply Credit/Debit cards from different banks
Allow customers to open bank accounts through the application
Check and request for eStatements
View transaction history of credit/debit cards
Mobile Cheque deposit
Location-based optimization to suggest best card to be used

Pain relievers

By using the application, it will allow the customer to feel
relieved as the application compile all of the customer’s finances
The customer feels more relaxed as he/she does not have to check
for mistakes or inconsistencies. The entire process is automated and
extremely accurate.
The customer feels more confident that the purchases they make are
of the best value. This is due to the amalgamation of all the card
promotions in one application, allowing the customers to discover deals at
the touch of their fingertips.

Gain creators

Customers can now have multiple services under one application
Customers will be more aware of all their accounts statuses as the
application allows you to check on all your accounts from the 3 different
banks under one application
Customers will be notified if there are new offers and deals by
the 3 local banks, as the application will notify customers of such deals
that would most likely interest the customers based on their personal
Compiling of finances will be easier for customers now
Customers can now deposit their checks without having to go to the
bank with the mobile check deposit



Held events to promote this application Offer free gifts and free
Get social influencers to advertise the application.
Buy advertisements on social media such as Facebook, Instagram,
Twitter, to reach out to a bigger pool of audience so that it can grow a
bigger customer base.
Government to promote the convenience of these application as it
will help a lot of people as it is hassle free




24/7 automated services for customers.
Personal assistance given to customers as the application is link
to the 3 local banks
Using social media platforms to keep customers updated of any
events or system maintenance.
Teach the customers the benefits that they can gain from using
this application so they are aware of it

Cost Structure

Fixed costs (salaries, utilities)
Data fees
Human Resources Team
Marketing Team
Research and Development Team
IT Team
Sales Team

Revenue Stream

Selling the product to banks
Commission/transaction fees
Advertisement revenue from advertising banks’ offer and deals

Key Partners

Local Banks
Young Adults to Working Adults
Major retailers

Key Activities

Allows users to have an all in one financial application which
allows them to enjoy multiple bank services in a single application.
Banks can use this as a platform to promote some of their deals
and offers as they can reach out to their audiences who uses this

Key Resources

Humans (Management team, IT developers and IT programmers)
Online platforms
Financial institutions



Architecture Design



and features of proposed application system

1. Consolidated account
This feature would allow customers to view all of
their accounts balances across the various banks on one application instead of
having to switch between different banking applications. This would hence
provide more convenience for the customers.

2. Automated bill payment
The customer would be able to view all his accounts
with the application and choose one of the accounts to be credited from to pay
for the bills automatically.

3. Fund Transfer

Customer can transfer
money between different bank all in a single page.

4. Consolidated credit card
Customers can view all their credit cards payments and
details all on the app without having to switch between the different banking

5. Smart credit card payments
This function compares all the customer’s credit cards
and allows them to able see which of their credit cards would provide the most
benefits for them to pay for their expenses (etc. groceries, travel

6. Control credit card
Customers can allocate a budget for each of their
cards. If they are reaching their budget, an alert would be sent to notify them
that they are reaching their budget and should think twice before continuing
with the payment

7. Consolidation Transaction

is allowed to retrieve past 6 months transaction, group and sort records based
on different bank accounts.

8. Location-based promotion

can view the best deals with the cards that they own.


1.     Restful API (Application
Programming Interface)

pass data and information between banks to the one banking app, every bank will
need to provide API for access to the individual banking services and exchange
of information. This will allow efficiency and integration between individual
banks and one banking app. For a start, our team will link up and liaise with
the major local banks such as DBS, UOB and OCBC as the bulk of Singaporeans do
banking with these banks. The second phase would be to link up with popular
offshore banks that have a substantial retail customer base in Singapore. This
would include Citibank, Standard Chartered Bank and HSBC Bank.


2. Big data analytics

transaction data across different banks, it will allow our bank app to analyse
the transactional activity in different banking accounts and credit cards to
create a detailed persona of the customer and could be later use for banking
marketing purposes, such as suggestive selling and cross selling of financial


example, an individual whose bank balance is very high could be interested in
placing his excess funds in a fixed/time deposit. Our app could link up with
the various banks that the customer banks with as scan through which bank
offers the highest interest rates. This could appear as a “pop-up” in the app
to prompt the customer if he/she would be interest to take up the fixed/time


3. Text Analytics

This is the process
of deriving high-quality information from text. High-quality information is
typically derived through the devising of patterns and trends through means
such as statistical pattern learning, which involves the process of structuring
the input text deriving patterns within the structured data, and finally
evaluation and interpretation of the output. The main goal is essentially to
turn text into data for analysis, via application of natural language
processing (NLP) and analytical methods.


could be use for the apps’ predictive text input, similar to Google searches.
For example, if a customer of the app periodically sends his parents weekly or
monthly allowance or pay bills monthly, then the app will be able to predict
the text that the customer intends to fill in the free text field during bank
transfer and auto populate it, saving some time for customers who use the same
function periodically. The mobile check deposit feature would also use this
technology to send the check information to the bank to deposit into the
customer’s account.


4. Engaging / hiring an App developer
Creating an outstanding and user-friendly mobile banking app will be
challenging and as such, our team will need to work with/ hire an established
App developer. In developing the banking app, we must consider the following:
Its functionality and visuals (GUI).
Functionality – Adding more functionality without compromising on simplicity
and clarity is a major challenge. There are several things that customers/
users expect from the mobile app, but all these features must be presented in a
clear and logical manner with ease of navigation a top priority. Besides
engaging a reputable app designer, our app must be supported by robust IT
hardware e.g. powerful servers to prevent mobile banking slow download times,
system crashes and system glitches and failures.
Visuals – currently, some mobile banking apps out there are not mobile device
user-friendly. Our banking app must avoid the pitfall of letting the user
access features and services on our mobile devices in the same way as we do on
our desktop. When the website is simply poured into a mobile app without
realignment or proper design thinking about the type of device the content is
being slotted into, the function of the app is compromised. With so many
devices available, it is essential that the appearance, as well as
functionality, of web content is adapted to the relevant browser environment.
For example, and for a start, our app will be created for both Apple iOS system
and for Google Android App. For Android App, which allows for a lot of
customization, we will need to work on specific handphone models such as
Samsung Galaxy and Note.

5. Security used/ employed
To ensure that customer’s data is securely protected, our team will need to
work with reputable internet security firms such as Trend Micro or Accenture to
devise a security framework for our banking app.

The banking app pose the following challenges when it comes to assessing
security risk. Three factors include:
–           The device: The browser, the
system, phone, and other apps themselves all leave potential security gaps.
–           The network: Wi-Fi security
may compromise our banking app.  What if
hackers create a rogue access point or a fake SSL (Secure Sockets Layer)
–           The data center/ IT hardware
-servers: The underlying web server could be vulnerable to attack, as well as
the database that stores vital information.

In addition, our banking app will make use of 2-factor authentication in the
form of an SMS with password code (mobile number to be provided by customer
first) or by using a physical token that will randomly generate a password
code, all this in addition to the password protected app.

6. NFC Technology


NFC (Near Field Communication) is a tokenized wallet
incorporating a secure element either embedded in the device or using a host
card emulation in the cloud. It allows short range communication between two
compatible devices. This requires at least one transmitting device, and another
device to receive the signal. A wide range of devices can use the NFC standard
and will be considered either passive or active.

Passive NFC devices include tags, and other small
transmitters, that can send information to other NFC devices without the need
for a power source of their own. Active devices are able to send and receive
data. It can communicate with each other as well as with passive devices.
Smartphones are by far the most common form of active NFC device. Public
transport card readers and touch payment terminals are also good examples of
the technology.

NFC works on the principle of sending information over
radio waves. Near Field Communication is another standard for wireless data
transitions. This means that devices must adhere to certain specifications in
order to communicate with each other properly.

To determine what sort of information will be exchanged
between devices, the NFC standard currently has three modes of operation.
Perhaps the most commonly used in smartphones is the peer-to-peer mode. This
allows two NFC-enabled devices to exchange various pieces of information
between each other. In this mode both devices switch between active when
sending data and then passive when receiving.

Read/write mode, on the other hand, is a one-way data
transmission. The active device, possibly your smartphone, links up with
another device in order to read information from it. NFC advert tags use this

The final mode of operation is card emulation. The NFC
device can function as a smart or contactless credit card and make payments or
tap into public transport systems.

7. Geofencing


Geofencing can be used to track the location of customers
and alert them if there are any special offers which they are entitled to based
on the credit cards they have. Geofencing helps customers to make smart
decisions for payment and promotes customer loyalty for both retailers and






















The extensive and
diverse areas of the banking industry is brimming with age-old methods and
processes that require fresh ideas of ingenuity and innovation. It is an ethos
that requires constant change to keep up with the demands that this society’s
ever-increasing sense of self-entitlement makes. However, this does not mean
that the entire industry has not moved forward in comparison to a decade ago.
Adversely, in the face of technological advancements in recent years,
improvements have been made in many areas of banking. Mobile banking, for
instance, has greatly reduced the inconvenience and hassle of going to a
physical branch for customers. In fact, many services can now be accessed with
a mobile phone and customers rarely have to go to a physical branch for their
banking needs.


Undeniably, mobile
banking has revolutionized the relationship between banks and the people, as
well as how people perceive banking services. Our team intended to deepen this
relationship and allow the banks to be more in touch with the customer. We have
created a data ecosystem, amalgamating all of the customer’s bank accounts to
give them a concise and accurate overview of their finances. The data ecosystem
also collects data of all the cards that the user possesses, allowing the user
to know how to get the best deals out of every card. Every piece of applicable
and sound cutting-edge technology has been considered and utilized with utmost
consideration for necessity. Thus, we believe that this application will
disrupt the entire banking industry and bring the people closer to the banks,
giving a personalized experience for each and every user.

























Technology Employed – Restful Application Programming



Technology Employed – Big Data Analytics




Technology Employed – Security Used / Employed



Technology Employed – NFC Technology



Technology Employed – Geofencing








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