Building Core Banking: A Blueprint for Modern Financial Systems - Introduction

Claret Nnamocha — Wed, 19 Jun 2024 22:15:21 +0000

The central nervous system of a bank’s operations is its core banking system. This vital component oversees crucial daily tasks, including monitoring cash flows, administering customer accounts, and maintaining smooth operations. It’s the foundation that enables efficient banking services for customers.

Core banking refers to a backend infrastructure that unifies various branches of a single bank. This system facilitates real-time operations, such as managing loans, processing withdrawals and deposits, and handling payments.

What is the meaning of core banking?

“CORE” in “Core Banking” stands for Centralised Online Real-time Environment:
C - Centralised: Consolidates all banking operations into one unified system.
O - Online: Provides 24/7 network-based access to banking services globally.
R - Real-time: Guarantees immediate processing and updating of all transactions.
E - Environment: Integrates the entire ecosystem of banking technology and protocols.

This system interconnects bank branches through a single platform, enabling customers to access services from any location. It enhances convenience, accessibility, and operational efficiency while ensuring secure practices across many channels (e.g. mobile, web, USSD, branch, 3rd party, etc.) within the banking network.

A lot of modules and services make up a modern banking experience in core banking, and for this series, we will only explore how we built three major services at the heart of every core banking solution.

Account Management Service
Transactions Management Service
Notifications Service

We will start with how the core banking system facilitates efficient customer onboarding and account opening. We’ll look at how it stores and manages all account-related information. This includes essential information like account numbers, balances, customer data and account details.

Next, we look at how the core banking system uses general ledger(s) to track all transactions across the network to create real-time, secure, and accurate transactional experiences (e.g. fund transfers, withdrawals, bill payments, deposits, etc.) for customers.

Finally, for this series, we’ll take a look at how the core banking system uses notifications to improve security and foster trust between the bank and its clients by keeping customers informed about their account activities and banking operations with real-time alerts, security notifications, status updates, multi-factor authentication, e.t.c

In each module, we look at the activities a customer can perform, the database design and architecture behind the scenes, and the considerations to make these activities safe and convenient.

Coming up next, meet the team.

Seamless Security: Setting Up Biometric Authentication on Android Emulator & iOS Simulator

Claret Nnamocha — Fri, 22 Mar 2024 20:49:56 +0000

Biometric authentication is a sophisticated method of verifying a user's identity based on unique physical characteristics. These characteristics are nearly impossible to replicate, making biometric authentication one of the most secure methods available. In the context of mobile app development, biometric authentication offers a secure, seamless and secure way for users to access sensitive information.

Types of Biometric Authentication
Biometric authentication offers a variety of methods for verifying users' identities, each with its unique strengths and considerations. Here, we'll explore two prominent types of biometric authentication: Face ID for iOS and Fingerprint recognition for Android.

Face ID: Face ID is Apple's facial recognition technology available on iOS devices equipped with the TrueDepth camera system. It uses a combination of infrared and visible light to create a detailed depth map of the user's face. This data is securely stored and used to authenticate the user when they attempt to unlock their device or authenticate within apps.

Fingerprint Recognition: Fingerprint recognition, also known as fingerprint biometrics, is a widely used authentication method on Android devices. It captures and analyses the unique patterns of a user's fingerprint. This data is securely stored within the device's hardware or software and used to authenticate the user when they place their finger on the fingerprint sensor.

Setting Up Android Emulator and Simulator
Before diving into the implementation of biometric authentication in your Mobile apps, you need to set up the Android Emulator and Simulator on your development environment. Follow these steps to get started:

Enabling Face ID on iOS Simulator (Xcode): Since the iOS Simulator doesn't support actual Face ID recognition due to hardware limitations, you'll need to simulate it. So to simulate Face ID:

Open Simulator
Go to Features -> Face ID -> Enrolled

Once you tap on "Enrolled" you would be able to simulate Face ID authentication on that simulator

NB: If you are using an older XCode version you may have to enable Face ID by going through Hardware -> Face ID -> Enrolled instead

Enabling Fingerprint Recognition on Android Emulator (Android Studio): Android Emulator supports fingerprint recognition simulation for devices with fingerprint sensors. To check if the Emulator has fingerprint sensors:

Open Emulator
Tap on the 3 dot to open the extended controls If you can see the "Fingerprint" section, then fingerprint sensor is supported

To enable fingerprint on the emulator:

Open Settings and search for "Fingerprint" or "Pixel Imprint." Choose Pixel Imprint.
Select Pixel Imprint again to set up your virtual fingerprint.
Pick your preferred screen lock: Pattern, PIN, or Password.
Agree to the setup by pressing "More" and then "I agree."
Follow the prompt to touch the sensor on your device.
In Fingerprint settings, choose an option or stick with the default "Finger 1" and press the Touch Sensor button.

Once done, press DONE to finish and start using the sensor in any app on your virtual device.

And with that you have successfully setup biometrics authentication on your emulator and simulator

To learn how to implement this authentication on your mobile app, stay tuned... there's a second part

DEV Community: Claret Nnamocha

Building Core Banking: A Blueprint for Modern Financial Systems - Introduction

Seamless Security: Setting Up Biometric Authentication on Android Emulator & iOS Simulator