Database Design for Online Banking System
The database for the Online Banking System must efficiently manage Account Details, Customer Details, and Transactions. Users should be able to log in to the system and perform banking operations like balance check, deposit, withdraw and money transfer. Let’s understand the overview of the Online Banking System through the below terms.
- User Management:
- We should manage user accounts which include registration, login and authentication.
- Store user details such as name, email, address, and contact information securely.
- Account Management:
- Maintain records of bank accounts associated with each user.
- Track account balances, transaction history, and account status (active, closed, etc.).
- Transaction Processing:
- Handle various types of transactions, including deposits, withdrawals, transfers, and bill payments.
- Ensure transactions are secure, accurate, and recorded in real time.
- Security Features:
- Implement robust security measures to protect sensitive data and prevent unauthorized access.
- Use encryption techniques to secure data transmission over the network.
- Reporting and Analytics:
- Generate reports on account activity, transaction history, and user behavior.
- Use analytics to identify trends, detect fraud, and improve service offerings.
- Customer Support:
- Provide customer support features, such as chat support, FAQs, and helpdesk services.
- Maintain records of customer interactions and feedback for improving services.
How to Design a Database for Online Banking System
Designing a relational database for an online banking system is an important and interesting task that requires careful planning and consideration. The database serves as the backbone of the banking system that stores and organizes large amounts of financial data securely.
In this guide, we will explore How to Design a Relational Database for an Online Banking System by designing the entity relationship diagram and Database Model with the help of various required entities, attributes, and relationships.
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