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First and foremost we would like to express our thanks to Allah because of His
blessings and strength that He has given to us to finish this report as our final project
report. We have put the best of our efforts in this project.
However, it would not have been possible without the kind support and help of Sofia
Faruq Senior Software Engineer and Project Manager at Inov8. We would like to
extend our sincere thanks to all of them.
We are highly indebted to Inov8 managers for their guidance and supervision as well
as for providing necessary information regarding the project & also for their support
in answering the questions.
We would like to express our gratitude towards our parents & member of our group
for their kind co-operation and encouragement which helped us in completion of this
project.
Inov8 Limited.................................................................................................................................. 6
Funds Transfer................................................................................................................ 13
Top Up............................................................................................................................ 13
2) Business Case..................................................................................................................... 14
3) Technical Information........................................................................................................ 15
3. Pricing ................................................................................................................................ 17
6. Contract Type......................................................................................................................... 22
8. Test Plan................................................................................................................................. 23
1. Development .......................................................................................................................... 24
3. Maintenance ........................................................................................................................... 27
Recommendation .......................................................................................................................... 28
This report gives the detail information of the project carrying out by the
Inov8 Ltd. a banking platform development and consulting company. This
project report gives you the detail information about the platform of Inov8
branchless banking named as Falcon Platform for the customer Meezan
bank.
This project is of 110 days, this paper provides you the thorough
information of the how the project management is being done in this project
and how they are carrying out this project
Inov8’s team comprises individuals with an in depth understanding of mobile commerce and
payments along with their individual areas of expertise ranging from business and covering all
technology required for designing, deploying, integrating and supporting products and solutions.
The underlying strengths of Inov8 are its people and technology. We promise and deliver
innovative strategies and technology in an age where competition does not allow for learning
curves.
Inov8’s mission is to provide technology and consulting solutions for all players in the mobile and
branchless banking ecosystem including financial institutions, mobile operators, agent networks,
merchants, money transfer organizations, regulators and governments, representing a
fundamentally transformational opportunity to connect millions of people to the digital economy.
Working in collaboration with Askari Bank and Zong, Inov8 has successfully implemented and
launched, TimePey, Pakistan’s largest branchless banking deployment with a G2P focus. This
project entails salary transfers and pensions for servicemen, branchless banking for the unbanked,
mobile banking, next generation mobile commerce and remittances.
Inov8 has grown to become one of the region’s leading technology and mobile commerce
companies over the last decade. We have become experts in designing, implementing, rolling out
and optimizing large and complex m-commerce projects.
Background of Project
This document will serve as the report for a project that is used is Mobile Banking Application for
Meezan Bank powered by Inov8 Limited. According to recent research people are spending more
time on mobile instead of internet and this is a big opportunity for the banks to jump into the
mobile banking solutions. The purpose of this project is to provide a Bank with the Mobile Banking
platform. The Meezan bank wants to have Mobile Banking system for their current customer base
who are already registered for the Internet Banking.
further penetrate the mobile financial services industry and provide an alternate channel for
payments. At present, the banked customers are a major market to target for mobile financial
services, as they just need access from the mobile phone in a secure manner. Customers will be
INOV8’s Flacon Platform provides integrations with third party financial systems, and offer direct
integrations to banks where all processing, routing, and switching is done by I8Microbank System
thus reducing turnaround times, eliminating reconciliation issues - all as a cost effective solution,
As the branchless banking industry currently stands, more than 95% of transactions which are
carried out through agents, whereas transactions initiated from customers via smartphones are still
limited, with conversion relatively low. There is market data which suggests that a service for the
It allows a customer to conduct a variety of mobile financial transactions in real time – all while
choosing from any of their linked financial accounts from multiple financial entities. This can be
configured either before, or during a transaction. This allows them to truly digitize their accounts.
Customers will need to activate their accounts at their respective financial institutions for use, as
I8Microbank is designed and implemented to meet all bank and carrier grade requirements.
Security
Scalability
Reliability
A full proposal with broken out functionality will be available upon request.
Project manager’s core responsibilities were to direct and manage project work, prepare
WBS,QA/QC , direct project team, supervised the development works in execution, conduct daily
progress review meeting at site, weekly progress appraisal meeting at PMO office, prepare
schedule for resources demand, to ensure progress of work as per schedule and specifications.
CEO
Change
Control Board
Project
Manager
Senior
Senior Soft. Quality Manger
Engineer Admin
Engineer
Soft. Engineer Soft. Engineer Soft. Engineer Soft. Engineer Quality Quality Quality
Surveyor
1 2 3 4 Engineer 1 Engineer 2 Engineer 3
P. 4.1 Develop 4.2 Develop 4.3 Direct and 4.4 4.6 Close
Integration Project Project Manage Project MonitorControl Project
Management Charter Management Plan Work Project Work or Phase
After demonstration a Client can request a Project Charter with a Business Case in order to evaluate
the numbers or stats.
1. Transactions Details
2. Business Case
3. Technical Information
Bill Payments
I8Microbank facilitates a multitude of public and private sector bill payments. These
payments can be made via 1-Link, Phoenix, Rendezvous or 3rd party billing systems.
Generally banks use their own bill payment processing relationships for the same.
Top Up
The top up functionality allows the user to purchase mobile airtime. Mobile top up is
provisioned in real time and the payment is deducted from the user’s linked account
instantaneously. The user has the option to top up his own mobile or he can send mobile
credit to other users.
Retail Payment
Mobile Banking customers can easily pay for their retail purchases directly from their
mobile banking service at participating retailers. Customers can be charged a convenience
fee if required, where a merchant does not fulfill qualification for a merchant fee. It is likely
that all Telco top-up retailers can be converted to receive mobile banking payments. High
end merchants can be catered for via web or mobile apps.
Mini Statement
Mobile Banking customers can view their mini statements from any of their accounts.
Customers will be able to view his/her last 5 transactions pertaining to their accounts within
respective banks.
Other Services
The I8Microbank platform provides the following services in addition to the above:
2) Business Case
Assumption 1
Assumption 2
The model assumes that will gain customers in 8 quarters meaning 500,000
2.1% of its total subscribers 23,345,258
12.9% of its subscribers who have a bank account
Superior Technology
Technical highlights of I8Microbank System:
i8Microbank System is made using the latest state of the art tools and is n-tier
o The technology stack comprises a highly available, J2EE carrier and bank grade
application, using ideally Oracle Database technology backed by different components.
The solution is carrier class and is high availability configured
o There are no single redundant software / hardware nodes
o Software and Hardware based load balancing
o Clustering across all nodes
Please see section on infrastructure requirements to assess technology stack
Middleware Strengths
The I8Microbank server also has middleware capabilities via its routing component. It can
acquire transactions from any network, do the routing, switching and get them processed
by a range of different systems including core banking systems, banking middleware such
as Phoenix, Rendezvous and IRIS, and remittance systems.
4) System Component
Webserver/Software load Balancer
DB Servers
SAN Storage
1. Hardware Recommended
i. The DB framework is based on an active - passive replication process using Oracle Real
Application Cluster (RAC) and core licensing.
ii. This configuration uses Oracle licensing at the CPU level.
iii. The entire system is plug and play for scalability, one of the strengths of our solution. Adding
a server to the application and DB cluster will require virtually no downtime.
iv. Prices and models may vary based upon availability.
v. Performance will not be affected because you have the application servers load balanced from
the Web Server using Apache MOD/JK.
vi. Recommended hardware may change upon bank’s actual business requirements and load
assessment.
3. Pricing
Any other optional work will be billed at mutually agreed upon customization rates per
man day or per feature.
Meezan Bank will be responsible for providing all testing handsets.
All travel and board for personnel at all stages of the project will be Meezan Bank’s
responsibility.
Implementation and Licensing
60% at Master License Agreement sign-off
Agreements
Agreements include software license agreements and service level agreements. For Meezan mobile
banking system only software license agreement was used.
1. Requirement Gathering
2. Project Scope
3. Work Breakdown Structure
4. Project Plan
5. Test Plan
6. Risk Register
The queries mentioned herein will be responded to by Meezan Bank’s resources. Meezan Bank
given option to specify any customizations required in a flow/transaction. Requirement were
gather through following ways;
1. Questionnaires
2. Meetings
3. Conference Calls
4. Handbook Updates
a. Meezan Mobile App – Requirements Specification
b. Meezan Portal – Requirements Specification
2. Project Scope
Project Scope document defines the phase the project is currently in and identifies and lists the
features and functionalities that are in scope and also that are out of scope. There were 2 basic
scope of this project first is Mobile app which is at the user end and second is the portal which is
at the banks end.
Mobile App
Login via Falcon Mobile App
Ensuring that the Customer changes the Login PIN on first time Login
Establish a policy for implementing new, blacklist and obsolete versions of the Mobile app
Ability to perform Balance Inquiry
Ability to perform the Funds Transfer transaction
Ability to perform the IBFT transaction
Ability to view Mini Statement
Ability to change Login PIN
Ability to change Bank PIN (MPIN)
Ability to provide Branch Locator
Ability to integrate with Facebook
1.1.2.1.1- Own
1.1.2.1.2- Third 1.1.2.2.2- Postpaid 1.1.2.2.3- Prepaid 1.1.2.2.5-
Account Fund 1.1.2.1.3- IBFT 1.1.2.2.1- Utility Bills 1.1.2.2.4- ISPs
Party Fund Transfer Bills Bills Registered
Transfer
Bills
1.2.4.3- Full
1.2- Integration
Statement
1.2.1.1- User
1.2.4.1- Fetch
Authentication 1.2.2.1- Own Accounts
Account
1.2.1.2- Customer
Information 1.2.2.1.1- Fund
Transfer
1.2.2.3.2- 1.2.3.1- Bill Inquiry
1.2.2.3.1- Fetch 1.2.2.3.3- Fund
BeneficiaryTitle
Beneficiaries Transfer
Fetch
1.2.3.2- Bill
1.2.2.2.2- Payment
1.2.2.2.1- Fetch 1.2.2.2.3- Fund
Beneficiary Title
Beneficiaries Transfer
Fetch
4. Time Management
The time management for this project is done through the past experience basis. In our point of
view it shall be carried out properly through planning and estimation, this is discussed in detail in
recommendation section. This time allocated for this project is assigned to the overall project as
not for the each activity this project was meant to complete in 110 days of working time. As this
project is currently in the phase of execution. There was no definition of activities and allocation
of the resources.
5. Cost Management
The cost management in the project is been carried out the way time management was done, Inov8
give budget of the project on the two basis first is of the license cost and second is the hardware
cost. It includes all the cost of the man, material and overhead, which in our thinking is not an
effective way.
6. Contract Type
The contract which was used to carry out this project is the Fixed-Price Contract. The most
commonly used contract type is the projects. It is favored by organizations because the price for
goods is set at the outset and not subject to change unless the scope of work changes. Any cost
increase due to adverse performance is the responsibility of Inov8 Ltd., who is obligated to
complete the effort. Under contract, Meezan Bank should precisely specify the product or services
to be procured, and any changes to the procurement specification can increase the costs to the
Inov8.
7. Project Plan
Project management plan of this project includes the;
1 Bill Payment(Backend)
2 Fund Transfer(Backend)
7 UAT(Blank DB)
8 Performance testing
9. Risk Register
1 Ability of the system to work under the load Load Testing was performed
of users for 500 virtual users at a time
1. Development
This activity includes development of the project. It includes implementation of the features within
the scope on both Mobile Apps, Backend Servers and Integration.
Development also includes unit testing performed by developers of both Front End and Back End
Systems.
Defects Sheet
1 From account and To account are not shown on the report in case of IBFT Resolved
transaction
2 Bill Company Column should be renamed to Product column on the grid and Resolved
it should show the products. Transaction type column should show only two
transaction types i.e. Fund Transfer and Bill Payment. IBFT should be shown
3 Values in Product drop down should be populated on selecting the transaction Resolved
type.
6 User is unable to type into transaction code field in search criteria Resolved
7 In case of own account fund transfer branch code is not shown with from and Resolved
to account fields
8 On the transaction detail report, there should be option to extract the report Resolved
in xslx format as well.
Fund Transfer third 100 4696 4638 5898 2582 7666 0 12.88328 4.202163
party
1 Ability of the system to work under the load Load Testing was performed Closed
of users for 500 virtual users at a time
3 Issue with the RAM of Application and Appropriate RAM was Closed
database servers on production in case of assigned to both the servers
bulk of users
1. Project Report
In that project report is developed through the Test Plan which is developed in the planning stage.
It also includes different sheets and responses which are as follows:
2. Change Requests
Change request are handled through Change Request Form. A CR can be either billable or non-
billable depending on the functionality. A change request form is given to the customer if there is
a change required in the project, it can be submitted through that form. The change request then
first process by the Manger change at site if it required additional approval it will be send to PMO.
1. Phase Closure
As Meezan’s Mobile Banking Project comprised of Phases. Therefore, at the end of every Phase
following two documents are prepared.
Moreover, User Acceptance Test Cases for the system are also listed which needs to be filled by
the Client insuring that the Client himself has tested the whole system.
After the success of Soft Launch the system moves to the Project Launch. Project Launch includes
providing the Mobile Apps on the Android and iOS Markets form where anyone can download
and use the applications. The backend system is moved to the high end Production Servers and
Databases.
Time management
There was roughly time estimated for this project on the basis of previous experience of the project
team.
Project team should have defined the activities first of the basis of the WBS
There should proper allocation of the resources required for the each activity
After that time estimation for each activity to complete should be calculated
o Project team can use the Three Point Technique for the time estimation of each
activity
tO+4tM+tP
tE=
6
Then there should be the Sequencing the activates with the help of PDM or CPM
Project team could use the MS Project for sequencing activities above is the example of the some
activates which was carried out to during project, it clearly shows if activities were properly
sequenced then a project team could save 2 days to perform these activities. Following is the detail
of MS Project Interface of the activities.
As explained earlier that there was not proper breakdown of WBS into activities, by doing
so project team could have made better estimate of the each activity or work package
Through allocating cost to each activity will help in the determine budget more accurately
Control cost is completely missed in this project and using EVM is not this company
practice
There should be proper cost controlling through EVM and TCPI
By following the above points company could save money and resources. It will also help company
to measure the performance of the project and to make changes.
Quality Management
Most of the quality management procedures were followed in this project and the requirement for
this nature can be met without the traditional standards of the project management.
Risk Management
The risk management for this project is done only at the planning phase, till the identification of
the risk. There was not proper quantification and response planning for the risk.
Following techniques can be used for the risk assessment and planning a response
Probability and impact matrix is one way to quantify risk it further used for the purpose of
developing Probability distribution for further clarification about the risk and planning
accordingly.
0.90 0.05 0.09 0.18 0.36 0.72 0.72 0.36 0.18 0.09 0.05
0.70 0.04 0.07 0.14 0.28 0.56 0.56 0.28 0.14 0.07 0.04
0.50 0.03 0.05 0.10 0.20 0.40 0.40 0.20 0.10 0.05 0.03
0.30 0.02 0.03 0.06 0.12 0.24 0.24 0.12 0.06 0.03 0.02
0.10 0.01 0.01 0.02 0.04 0.08 0.08 0.04 0.02 0.01 0.01
0.05/ 0.10/ 0.20/ 0.40/ 0.80/ 0.80/ 0.40/ 0.20/ 0.10/ 0.05/
Low Moderate High Very Very High Moderate Low
Very low High High Very low