1.
Introduction
1.1 Purpose
This Business Requirement Document (BRD) outlines the functional and non-functional
requirements for developing a comprehensive retail banking channel for a UAE-based bank.
The retail banking channel aims to provide seamless, secure, and user-friendly banking
services to individual customers through digital platforms (mobile app, web portal) and
physical touchpoints (branches, ATMs).
1.2 Scope
The retail banking channel will include:
Digital banking services (mobile app and web portal).
Core banking functionalities (account management, payments, loans, etc.).
Integration with UAE-specific financial systems (e.g., UAE Central Bank, Al Etihad
Payments).
Compliance with UAE banking regulations and data protection laws.
Enhanced customer experience with multilingual support (Arabic, English).
1.3 Objectives
Deliver a secure and scalable retail banking platform.
Enhance customer engagement through personalized services.
Ensure compliance with UAE regulatory standards.
Improve operational efficiency by automating key processes.
2. Stakeholders
Customers: Retail banking customers (individuals, UAE residents, and expatriates).
Bank Employees: Branch staff, customer service, and back-office teams.
IT Department: Responsible for system development, integration, and maintenance.
Regulatory Bodies: UAE Central Bank, Dubai Financial Services Authority (DFSA).
Third-Party Vendors: Payment processors, cybersecurity providers, and cloud
service providers.
3. Functional Requirements
3.1 Customer-Facing Features
1. Account Management
o View account balances, transaction history, and statements.
o Open new accounts (savings, current, fixed deposit).
o Manage beneficiaries for fund transfers.
2. Payments and Transfers
o Domestic and international fund transfers (via SWIFT, UAEFTS).
o Bill payments (utilities, telecom, government services).
o Mobile top-ups and instant payments.
3. Loan and Credit Services
o Apply for personal loans, auto loans, and mortgages.
o View loan status, repayment schedules, and make repayments.
o Credit card application, management, and payments.
4. Digital Wallet and Contactless Payments
o Integration with Apple Pay, Samsung Pay, and Google Pay.
o QR code-based payments at merchants.
5. Investment and Wealth Management
o Access to mutual funds, bonds, and other investment products.
o Portfolio tracking and advisory services.
6. Customer Support
o In-app live chat, email, and phone support.
o AI-powered chatbot for FAQs and basic queries.
3.2 Employee-Facing Features
1. Branch Operations
o Customer onboarding and KYC verification.
o Loan and credit card application processing.
o Account servicing and issue resolution.
2. Back-Office Operations
o Transaction monitoring and fraud detection.
o Reconciliation and reporting for regulatory compliance.
o Customer data management and updates.
3.3 Integration Requirements
Core Banking System: Seamless integration with the bank’s existing core banking
system.
Payment Systems: Integration with UAEFTS, WPS (Wages Protection System), and
SWIFT.
Third-Party Services: APIs for credit bureaus (e.g., Al Etihad Credit Bureau),
payment gateways, and KYC providers.
Regulatory Systems: Connectivity with UAE Central Bank for reporting and
compliance.
3.4 User Interface Requirements
Multilingual support (Arabic, English).
Responsive design for mobile and web platforms.
Accessibility compliance (WCAG 2.1 standards).
Personalized dashboards with widgets for quick access to frequent tasks.
4. Non-Functional Requirements
4.1 Performance
System should support 100,000 concurrent users during peak hours.
Page load time for web and mobile app should not exceed 2 seconds.
Transaction processing time should be under 5 seconds.
4.2 Security
Compliance with UAE Central Bank cybersecurity guidelines.
Multi-factor authentication (MFA) for login and high-value transactions.
End-to-end encryption for data transmission.
Regular penetration testing and vulnerability assessments.
4.3 Scalability
Cloud-based architecture to handle future growth.
Ability to scale horizontally during high-traffic periods (e.g., salary days).
4.4 Reliability
System uptime of 99.99% (excluding scheduled maintenance).
Robust disaster recovery plan with data backup every 24 hours.
