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Functional Specification Document (FSD)

Table of Contents

  1. Introduction
  2. Purpose
  3. Scope
  4. Definitions, Acronyms, and Abbreviations
  5. References
  6. Overview
  7. Functional Requirements
  8. Data Requirements
  9. User Interface Requirements
  10. Non-Functional Requirements
  11. Assumptions
  12. Constraints
  13. Acceptance Criteria
  14. Appendix
  15. Approval

Introduction

This document outlines the functional requirements for implementing a payment solution for loans at THE BANK. It covers the business and technical requirements necessary to facilitate various payment operations related to loan lifecycles.

Purpose

The purpose of this document is to gather the Client’s business requirements, both functional and non-functional. The scope of the document is limited to collecting the requirements from the Client.

Scope

This FSD specifically pertains to the implementation of payment solutions for loans at THE BANK, including mortgages and consumer finance products currently in the legacy system.

Definitions, Acronyms, and Abbreviations

  • BRD: Business Requirements Document
  • BSDD: Business Solutions Design Document
  • LOS: Loan Origination System
  • FT: Funds Transfer
  • Corona: Reconciliation system
  • MIDDLEWARE: THE BANK system that provides 24/7 availability
  • Digital channel: Mobile application provided by THE BANK
  • Technical nostro: Intermediary account used for transaction transfers between T24 and The legacy system systems.

References

  • Elena's BRD for Implement Payment Solution for Loans

Overview

THE BANK, a member of the XXX group, is a universal bank in the XX market, offering a range of banking products including loans, insurance, mutual funds, leasing, and building savings. This project aims to implement a comprehensive payment solution for loans.

Functional Requirements

Requirement 1: Online Scenario – Receiving Information from LOS

  • ID: BRD01-01
  • Description: T24 will receive payment instruction from LOS. The data should include amount, currency, requested effective date, loan account to be debited, and account to be credited.
  • Priority: High
  • Source: Elena's BRD
  • Acceptance Criteria: Payment instruction is correctly received and processed by T24.
  • Dependencies: LOS, T24

Requirement 2: Online Scenario – Transaction Codes Configuration

  • ID: BRD01-02
  • Description: Configure different transaction codes in T24 to handle each payment scenario.
  • Priority: High
  • Source: Elena's BRD
  • Acceptance Criteria: Transaction codes are configured and functioning as intended.
  • Dependencies: T24

Requirement 3: Online Scenario – Debit/Credit Account Mapping

  • ID: BRD01-03
  • Description: T24 should input the correct debit and credit accounts when creating a Payment transaction based on payment order.
  • Priority: High
  • Source: Elena's BRD
  • Acceptance Criteria: Correct debit and credit accounts are mapped.
  • Dependencies: T24

Requirement 4: Online Scenario – Beneficiary Account No. Check

  • ID: BRD01-04
  • Description: On the payment order level, when user inputs field Beneficiary Account No, the system should check if the account is part of an existing Beneficiary record.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: Beneficiary Account No. is checked and validated.
  • Dependencies: T24

Requirement 5: Online Scenario – 1 to 1 Basis Transaction Processing

  • ID: BRD01-05
  • Description: In case of disbursements, T24 will process the transaction on a 1:1 basis via online interface.
  • Priority: High
  • Source: Elena's BRD
  • Acceptance Criteria: Transactions are processed on a 1:1 basis.
  • Dependencies: T24, MIDDLEWARE

Requirement 6: Online Scenario – Sending Information to MIDDLEWARE

  • ID: BRD01-06
  • Description: Send information on the payment instruction to MIDDLEWARE.
  • Priority: High
  • Source: Elena's BRD
  • Acceptance Criteria: Payment instruction is sent to MIDDLEWARE.
  • Dependencies: T24, MIDDLEWARE

Requirement 7: Online Scenario – Receiving Information from MIDDLEWARE

  • ID: BRD01-07
  • Description: Receive answer from MIDDLEWARE about payment instruction execution in T24.
  • Priority: High
  • Source: Elena's BRD
  • Acceptance Criteria: Response is received and processed.
  • Dependencies: T24, MIDDLEWARE

Requirement 8: Online Scenario – Sending Information to LOS

  • ID: BRD01-08
  • Description: Send result of payments instruction (payment order) to LOS.
  • Priority: High
  • Source: Elena's BRD
  • Acceptance Criteria: Result is sent to LOS.
  • Dependencies: T24, LOS

Requirement 9: Online Scenario – Deletion of the FT Record

  • ID: BRD01-09
  • Description: T24 will delete the Payment transaction in hold status in case the payment instruction for The legacy system was not successful.
  • Priority: High
  • Source: Elena's BRD
  • Acceptance Criteria: Payment transaction in hold is deleted.
  • Dependencies: T24, MIDDLEWARE

Requirement 10: File Scenario (Bills Based) – Beneficiary Account No. Retrieval

  • ID: BRD01-10
  • Description: When creating file for bills to be repaid from The legacy system, Beneficiary Account No should be retrieved from information available in T24 on loan account.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: Beneficiary Account No. is retrieved correctly.
  • Dependencies: T24, The legacy system

Requirement 11: File Scenario (Bills Based) – Past-Due Bills Amount Grouping

  • ID: BRD01-11
  • Description: When creating file with payment instructions for The legacy system for past due repayment, the whole amount of past due bills should be grouped per AA engagement.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: Amounts are grouped correctly.
  • Dependencies: T24, The legacy system

Requirement 12: File Scenario (Bills Based) – Payment File Generating

  • ID: BRD01-12
  • Description: In case of ordinary repayments, past-due repayments, and charges, T24 will generate a separate payment file for each case and send the file to The legacy system.
  • Priority: High
  • Source: Elena's BRD
  • Acceptance Criteria: Payment files are generated and sent correctly.
  • Dependencies: T24, The legacy system

Requirement 13: File Scenario (Bills Based) – Receiving Information from The Legacy System

  • ID: BRD01-13
  • Description: Receive answer about payment instructions in payment file from The legacy system.
  • Priority: High
  • Source: Elena's BRD
  • Acceptance Criteria: Response is received and processed.
  • Dependencies: T24, The legacy system

Requirement 14: Bulk – Creating OFS-Messages

  • ID: BRD01-15
  • Description: Configure T24 to create OFS messages from received CSV-files via DFE.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: OFS messages are created correctly.
  • Dependencies: T24

Requirement 15: Bulk – Verification and Validation of CSV-File

  • ID: BRD01-16
  • Description: Verify the structure and validity of the received CSV-file.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: CSV file is verified and validated.
  • Dependencies: T24

Requirement 16: Reconciliation – Setting-Up of MT950 Message Generation

  • ID: BRD01-17
  • Description: Setup delivery message functionality to produce SWIFT messages MT950 in T24.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: MT950 messages are generated correctly.
  • Dependencies: T24

Requirement 17: Reconciliation – Sending of MT950 Messages to Corona

  • ID: BRD01-18
  • Description: Send the SWIFT MT950 reconciliation message to Corona.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: MT950 messages are sent to Corona.
  • Dependencies: T24, Corona

Requirement 18: Bulk IMX – Verification and Validation of CSV-File

  • ID: BRD01-19
  • Description: Calculate check sum and validate it with check sum provided with file uploaded to T24.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: Check sum is calculated and validated.
  • Dependencies: T24

Requirement 19: File Scenario (PO Based) – File Generating

  • ID: BRD01-20
  • Description: In case of manual extraordinary repayments and payoffs, T24 will based on created payment orders generate file before COB.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: Payment files are generated correctly.
  • Dependencies: T24

Requirement 20: File Scenario (PO Based) – File Sending

  • ID: BRD01-21
  • Description: T24 sends payment file (payment orders) to The legacy system.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: Payment files are sent to The legacy system.
  • Dependencies: T24, The legacy system

Requirement 21: File Scenario (PO Based) – Answer Receiving and Processing

  • ID: BRD01-22
  • Description: T24 receives and processes answer about payment instruction execution from The legacy system before its COB.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: Responses are received and processed.
  • Dependencies: T24, The legacy system

Requirement 22: Digital Channel Scenario – Receiving Information from PAYMENT LEGACY SOLUTION

  • ID: BRD01-23
  • Description: T24 receives file with extraordinary repayments from PAYMENT LEGACY SOLUTION.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: Files are received correctly.
  • Dependencies: T24, PAYMENT LEGACY SOLUTION

Requirement 23: Digital Channel Scenario – Loan Account Numbers Synchronization

  • ID: BRD01-24
  • Description: T24 has to synchronize loan account numbers created in T24 to PAYMENT LEGACY SOLUTION payment bridge with undue delay.
  • Priority: High
  • Source: Elena's BRD
  • Acceptance Criteria: Loan account numbers are synchronized.
  • Dependencies: T24, PAYMENT LEGACY SOLUTION

Requirement 24: Digital Channel Scenario – Re-Routing of Not Allowed Repayments

  • ID: BRD01-25
  • Description: In case T24 receives incoming transaction from PAYMENT LEGACY SOLUTION other than from extraordinary repayment it should be credited to dedicated technical account.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: Transactions are re-routed correctly.
  • Dependencies: T24, PAYMENT LEGACY SOLUTION

Requirement 25: Digital Channel Scenario – Return Message Generating

  • ID: BRD01-26
  • Description: In case T24 receives incoming transaction from PAYMENT LEGACY SOLUTION to non-existing account in T24, it will generate a return message, which will be sent to PAYMENT LEGACY SOLUTION.
  • Priority: Medium
  • Source: Elena's BRD
  • Acceptance Criteria: Return messages are generated and sent.
  • Dependencies: T24, PAYMENT LEGACY SOLUTION

Data Requirements

Describe the data requirements for the system, including data entities, attributes, and relationships.

User Interface Requirements

Detail the requirements for the user interface, including mockups or wireframes if applicable.

Non-Functional Requirements

Describe the non-functional requirements, including performance, security, usability, and other quality attributes.

Assumptions

  • THE BANK will use TPH instead of FT module.
  • Payment order functionality in T24 will be used as a utility to carry information received to complete extraordinary repayment from external channels.
  • The amount of the extraordinary repayment order follows the rules identified in the lending PLWs.
  • Cross-currency operations will be received and disbursed in the currency of the loan.
  • One technical nostro per currency should be opened in T24 and in The legacy system.
  • Lending department is responsible for maintaining up-to-date information on loan accounts.
  • Bills for regular repayments will be generated on the due date.
  • T24 will interact with The legacy system through MIDDLEWARE for on-line transactions.
  • The file for processing charges will be generated and processed several times a day.
  • Regular and past-due repayment files must be processed in The legacy system.

Constraints

Identify any constraints that affect the functional requirements.

Acceptance Criteria

Define the criteria for accepting the completed system or project.

Appendix

Include any additional information or documents relevant to the FRS/FSD.

Approval

  • Prepared by: Mike Meier
  • Date: 04/29/2025
  • Approved by: [Approver's Name]
  • Date: [Approval Date]
Document Link
Elena's BRD Functional Specification Document (FSD)