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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 Functional Specification Document (FSD) outlines the requirements for Mike's Fantastic Banking Project. The project aims to replace the legacy core banking system with Temenos Transact R24 and integrate third-party applications for payment and loan origination.

Purpose

The purpose of this document is to provide detailed functional requirements for the replacement of the legacy core banking system with Temenos Transact R24, along with the integration of Paymentus and LendingPad systems.

Scope

This FSD covers the replacement of the legacy core banking system, integration of third-party systems, data migration, automated testing, and UI design considerations. The project is expected to be completed within six months without disrupting the bank's current customers.

Definitions, Acronyms, and Abbreviations

  • COBOL: Common Business-Oriented Language
  • TPH: Temenos Payments Hub
  • API: Application Programming Interface
  • UX: User Experience
  • FSD: Functional Specification Document
  • FR: Functional Requirement

References

  • Temenos Transact R24 Documentation
  • Paymentus API Documentation
  • LendingPad API Documentation

Overview

Fantastic Bank aims to replace its 40-year-old core banking system programmed in COBOL with the latest Temenos Transact R24 system. The bank will also integrate Paymentus for payments and LendingPad for loan origination. The project must be completed within six months and ensure no disruption to the bank's 250,000 customers.

Functional Requirements

Requirement 1: Core Banking System Replacement

  • ID: FR-001
  • Description: Replace the existing COBOL-based core banking system with Temenos Transact R24.
  • Priority: High
  • Source: Business Need
  • Rationale: Modernize and improve the efficiency of the core banking operations.
  • Acceptance Criteria: The new system must be fully operational and all data migrated successfully.
  • Dependencies: Data migration tools, Temenos Transact R24 licenses.

Requirement 2: Payment System Integration

  • ID: FR-002
  • Description: Integrate Paymentus for payment processing instead of using Temenos Payments Hub (TPH).
  • Priority: High
  • Source: Business Need
  • Rationale: Utilize a specialized third-party payment system.
  • Acceptance Criteria: Paymentus must be fully integrated and functional.
  • Dependencies: Paymentus API, Temenos Transact R24 APIs.

Requirement 3: Loan Origination System Integration

  • ID: FR-003
  • Description: Integrate LendingPad for loan origination instead of using Temenos' LOS.
  • Priority: High
  • Source: Business Need
  • Rationale: Utilize a specialized third-party loan origination system.
  • Acceptance Criteria: LendingPad must be fully integrated and functional.
  • Dependencies: LendingPad API, Temenos Transact R24 APIs.

Requirement 4: Account Purge and Refund Process

  • ID: FR-004
  • Description: Purge all accounts with $100 or less, close the accounts, and refund the owners by check.
  • Priority: Medium
  • Source: Business Need
  • Rationale: Clean up the database and handle low-value accounts.
  • Acceptance Criteria: All qualifying accounts must be purged, closed, and refunds issued successfully.
  • Dependencies: Customer contact information, check processing system.

Requirement 5: API Integration

  • ID: FR-005
  • Description: Develop code to connect Temenos Transact's APIs with third-party systems.
  • Priority: High
  • Source: Technical Requirement
  • Rationale: Ensure seamless integration between systems.
  • Acceptance Criteria: All APIs must be working as expected.
  • Dependencies: Temenos Transact R24 APIs, third-party system APIs.

Requirement 6: Automated Testing

  • ID: FR-006
  • Description: Develop Selenium code for automated testing.
  • Priority: High
  • Source: Technical Requirement
  • Rationale: Ensure the system is thoroughly tested and reliable.
  • Acceptance Criteria: All test cases must be automated and pass successfully.
  • Dependencies: Selenium, test environment.

Requirement 7: User Interface Design

  • ID: FR-007
  • Description: The UX should only use different shades of blue, no other color.
  • Priority: Low
  • Source: Design Requirement
  • Rationale: Maintain a consistent and clean user interface.
  • Acceptance Criteria: The UI must adhere to the color scheme requirement.
  • Dependencies: Design guidelines, UX/UI tools.

Data Requirements

  • Data migration from the legacy system to Temenos Transact R24.
  • Data mapping between the old system and the new system.
  • Ensure data integrity and consistency during the migration process.

User Interface Requirements

  • The user interface must use only different shades of blue.
  • The design should be user-friendly and intuitive.
  • Provide mockups or wireframes for approval.

Non-Functional Requirements

  • Performance: The system must handle the current load of 250,000 customers without degradation.
  • Security: Ensure data privacy and compliance with banking regulations.
  • Usability: The system must be easy to use for both customers and bank employees.
  • Reliability: The system must be available 99.9% of the time.

Assumptions

  • The project team has experience with Temenos Transact R24.
  • All necessary licenses and integrations are available.
  • The bank's customers will cooperate with account closures and refunds.

Constraints

  • The project must be completed within six months.
  • No disruption to the bank's current 250,000 customers.
  • Budget constraints for licensing and integration costs.

Acceptance Criteria

  • Successful replacement of the legacy core banking system with Temenos Transact R24.
  • Seamless integration with Paymentus and LendingPad.
  • No customer disruption during the transition.
  • Successful account purge and refund process.
  • All APIs and automated tests working as expected.
  • Compliance with the UX design requirements.

Appendix

Approval

  • Prepared by: Mike Meier
  • Email: mikemeier@mad-tech.ai
  • Date: 02/05/2025
  • Approved by: [Approver's Name]
  • Date: [Approval Date]
Document Link
Mike's Fantastic Banking Project Functional Specification Document (FSD)