Functional Specification Document (FSD): Transact New Implementation

Table of Contents

1. Introduction
2. Purpose
3. Scope
4. Definitions, Acronyms, and Abbreviations
5. References
6. Overview
7. Functional Requirements
   • Requirement 1: Account Migration
   • Requirement 2: Continuous Account Access
   • Requirement 3: Account Purging
   • Requirement 4: Third-Party Integration
   • Requirement 5: Automated Testing
   • Requirement 6: User Interface Design
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 provides a detailed description of the functional requirements for the implementation of Temenos' Transact core banking product with the legacy mainframe banking system at Test Republic Bank.

Purpose

The purpose of this FSD is to outline the functional requirements needed to ensure a successful transition from the legacy mainframe banking system to Temenos' Transact core banking product.

Scope

The scope of this FSD includes the migration of all account information from the legacy mainframe system to the new cloud-based Temenos' Transact system, ensuring uninterrupted access for clients, and integrating with existing third-party applications.

Definitions, Acronyms, and Abbreviations

• SaaS: Software as a Service
• LOS: Loan Origination System
• UX: User Experience
• FRB: Test Republic Bank
• CD: Certificate of Deposit

References

• Temenos Transact Documentation
• Legacy Mainframe System Documentation
• Paymentus Integration Guide
• LendingPad Integration Guide
• Selenium Documentation

Overview

Test Republic Bank's legacy mainframe banking system, which is over 30 years old and COBOL-based, holds account information for 100,000 retail checking and savings accounts, as well as other account types. This project aims to migrate all accounts to Temenos' Transact cloud-based core banking product by New Year's Eve, 2025, without disrupting client access.

Functional Requirements

Requirement 1: Account Migration

• ID: FR-001
• Description: Migrate all account information from the legacy mainframe system to Temenos' Transact.
• Priority: High
• Source: Business Requirement
• Rationale: Ensure all accounts are moved to the new system.
• Acceptance Criteria: All accounts and associated data are successfully migrated to Transact.
• Dependencies: Data extraction from legacy system, Data import into Transact.

Requirement 2: Continuous Account Access

• ID: FR-002
• Description: Ensure clients have uninterrupted access to their accounts throughout the migration process.
• Priority: High
• Source: Business Requirement
• Rationale: Minimize impact on clients.
• Acceptance Criteria: Clients can access their accounts at all times during the migration.
• Dependencies: Robust migration strategy, System redundancy.

Requirement 3: Account Purging

• ID: FR-003
• Description: Purge accounts with $100 or less, close them, and refund the owners by check.
• Priority: Medium
• Source: Business Requirement
• Rationale: Clean up inactive or low-balance accounts.
• Acceptance Criteria: Accounts with $100 or less are purged, closed, and refunded.
• Dependencies: Account balance check, Refund processing.

Requirement 4: Third-Party Integration

• ID: FR-004
• Description: Integrate Transact with Paymentus and LendingPad.
• Priority: High
• Source: Business Requirement
• Rationale: Ensure seamless operation with existing third-party applications.
• Acceptance Criteria: Successful integration with Paymentus and LendingPad.
• Dependencies: API availability, Integration testing.

Requirement 5: Automated Testing

• ID: FR-005
• Description: Develop Selenium code for automated testing.
• Priority: High
• Source: Quality Assurance Requirement
• Rationale: Ensure thorough testing of the system.
• Acceptance Criteria: Selenium scripts are developed and executed successfully.
• Dependencies: Test case development, Selenium environment setup.

Requirement 6: User Interface Design

• ID: FR-006
• Description: The UX should use only different shades of blue.
• Priority: Low
• Source: Design Requirement
• Rationale: Maintain brand consistency.
• Acceptance Criteria: UX design uses only shades of blue.
• Dependencies: UI design guidelines, Design review.

Data Requirements

• Migration of account information including customer details, account balances, transaction history, and associated metadata.
• Data mapping between the legacy system and Transact.

User Interface Requirements

• The user interface should be intuitive and user-friendly.
• Use only different shades of blue for all UI elements.

Non-Functional Requirements

• Performance: The system should handle concurrent access by all users without degradation in performance.
• Security: Data must be encrypted during migration and in the cloud environment.
• Usability: The system should be easy to use and navigate for both customers and staff.

Assumptions

• All necessary data from the legacy system is available and can be extracted.
• Temenos' Transact supports the required functionalities.
• Integration with third-party systems (Paymentus and LendingPad) is feasible.

Constraints

• Migration must be completed by New Year's Eve, 2025.
• No disruption to client access during the migration process.

Acceptance Criteria

• Successful migration of all accounts to Transact.
• Continuous access to accounts for clients during migration.
• Integration with Paymentus and LendingPad is operational.
• Automated testing scripts are successfully executed.
• User interface adheres to the design requirement.

Appendix

• Sample data mapping
• Integration flow diagrams
• Test case scenarios

Approval

• Prepared by: Mike Meier
• Email: mikemeier@mad-tech.ai
• Date: 04/28/2025
• Approved by: [Approver's Name]
• Date: [Approval Date]