Business Requirements Document (BRD)

Table of Contents

1. Introduction
2. Business Objectives
3. Project Scope
4. Stakeholder Analysis
5. Requirements
   • Functional Requirements
   • Non-Functional Requirements
6. Assumptions
7. Constraints
8. Risks
9. Glossary
10. Appendices
11. Approval

Introduction

The purpose of this document is to outline the business requirements for creating a mobile banking application. The application will allow customers to access their bank accounts from their phones with features and functionality equivalent to the current online banking website.

Business Objectives

The primary objective of this project is to provide our customers with a mobile banking application that will enable them to access all their bank accounts and perform various transactions directly from their smartphones. The application must be secure, user-friendly, and fully functional by New Year's Day, 2025.

Project Scope

In-Scope:

• Development of a mobile banking application from scratch.
• Integration of customer accounts including checking, savings, money markets, CDs, IRAs, mortgages, home loans, personal loans, credit cards, and other banking products.
• Implementation of the latest industry-standard security features.
• Ensuring feature parity with the current online banking website.
• User interface greeting with a jingle and personalized welcome message.
• Deployment and go-live by New Year's Day, 2025.

Out-of-Scope:

• Development of new banking products.
• Upgrades to the existing online banking website.
• Support for non-mobile platforms (e.g., tablets, desktops).

Stakeholder Analysis

Internal Stakeholders:

• Project Manager
• Development Team
• QA Team
• IT Security Team
• Marketing Team
• Customer Support Team

External Stakeholders:

• Bank Customers
• Third-party Security Auditors
• Mobile Platform Vendors (iOS, Android)

Requirements

Functional Requirements

1. Requirement ID: FR-001

   • Description: The app must allow customers to access all their accounts, including checking, savings, money markets, CDs, IRAs, mortgages, home loans, personal loans, credit cards, and other products.
   • Priority: High
   • Source: Business Objective

2. Requirement ID: FR-002

   • Description: The app must provide the same features and functionality as the online banking website.
   • Priority: High
   • Source: Business Objective

3. Requirement ID: FR-003

• Description: When customers open the app, they must be greeted with a pleasant jingle and a personalized "Welcome 'x'" message, where 'x' stands for the customer's name.
• Priority: Medium
• Source: Stakeholder Request

Non-Functional Requirements

1. Requirement ID: NFR-001

   • Description: The application must be built from scratch and be home-grown.
   • Priority: High
   • Source: Business Objective

2. Requirement ID: NFR-002

   • Description: The app must be secure and incorporate the latest industry-standard security features.
   • Priority: High
   • Source: IT Security Requirement

3. Requirement ID: NFR-003

• Description: The project must be completed and the app must go live by New Year's Day, 2025.
• Priority: High
• Source: Project Timeline

Assumptions

• Customers have smartphones capable of running the mobile banking application.
• The development team has the necessary expertise to build the application from scratch.
• Adequate resources and budget are available for the project.

Constraints

• The application must comply with regulatory and security standards.
• The project must be completed within the specified timeline.
• The app must be compatible with both iOS and Android platforms.

Risks

• Risk 1: Potential delays in the development process.

  • Mitigation: Implement a detailed project plan with key milestones and regular progress reviews.

• Risk 2: Security vulnerabilities in the application.

  • Mitigation: Conduct thorough security testing and engage third-party security auditors.

Glossary

• CD: Certificate of Deposit
• IRA: Individual Retirement Account
• QA: Quality Assurance

Appendices

• [Appendix A] Detailed Project Timeline
• [Appendix B] Security Standards and Compliance Guidelines

Approval

• Prepared by: Bob Frapples
• Email: mikemeier@mad-tech.ai
• Date: 12/19/2024
• Approved by: [Approver's Name]
• Date: [Approval Date]