Select A Business Scenario BSA/425 V1.3 591482

Select a Business Scenario BSA/425 v1.3

For this assignment, you will select the business scenario for which you wish to analyze and develop a technical architecture. The purpose of the technical architecture, which you will develop during this 5-week capstone course, is to automate the business scenario and its processes. In this course, you will develop a project based on one of the following:

  • Scenario A: Financial Services
  • Scenario B: Internet Bank
  • Scenario C: Student-defined (must include a detailed description for approval)

Before beginning the next assignment, obtain approval from your instructor for your chosen scenario. The technical architecture you develop must include network and cloud infrastructures, database management systems, software applications, cloud services, and cybersecurity solutions. The software applications and technologies selected must be accessible by businesses and/or individuals and must be currently available on the market.

Paper For Above instruction

Introduction

Developing a robust technical architecture is critical for the successful automation and efficiency of a business scenario. In this analysis, I will focus on Scenario B: Internet Bank, a startup company launching an online banking platform offering a comprehensive suite of financial products and services. This scenario presents unique challenges and opportunities that require a carefully tailored technical infrastructure to ensure scalability, availability, security, and manageability.

Overview of the Internet Bank Scenario

The Internet Bank aims to provide banking services such as accounts and deposits, credit and debit cards, loans, insurance, investments, and tax services. Key success factors identified include scalability, high availability, security, and ease of management. The dynamic nature of online banking necessitates an architecture capable of supporting rapid growth, safeguarding sensitive data, and providing a seamless user experience 24/7.

Technical Architecture Design

The architecture for the internet bank must integrate multiple technological components to meet the outlined goals. Below, I elaborate on the essential elements and their roles.

Network and Cloud Infrastructure

To support scalability and high availability, a cloud-based infrastructure utilizing a hybrid cloud approach is optimal. Public cloud services like Amazon Web Services (AWS), Microsoft Azure, or Google Cloud Platform (GCP) offer elastic scalability, regional data centers, and robust disaster recovery capabilities. These platforms facilitate load balancing, auto-scaling, and geographic redundancy, ensuring the system can accommodate growth and provide uninterrupted service.

Database Management Systems

Financial data requires secure and reliable data management. A combination of relational databases (e.g., Amazon RDS, Azure SQL Database) for transactional data and NoSQL databases (e.g., DynamoDB, MongoDB) for flexible, high-volume data storage is advisable. These systems should incorporate encryption at rest and in transit, as well as regular backup and recovery procedures to ensure data integrity and compliance with financial regulations.

Software Applications and Cloud Services

The core banking applications should be built using microservices architecture, which allows independent deployment, scalability, and maintainability. Containerization technologies like Docker and orchestration tools like Kubernetes support this modular design. Cloud-native services such as API Gateway, serverless functions (AWS Lambda, Azure Functions), and managed databases streamline development and operational management.

Cybersecurity Solutions

Security is paramount in online banking. Multi-factor authentication (MFA), biometric authentication, and RSA token-based systems should be implemented. Firewalls, intrusion detection and prevention systems (IDPS), and Web Application Firewalls (WAF) protect against external threats. Regular security audits, vulnerability assessments, and adherence to Payment Card Industry Data Security Standard (PCI DSS) are necessary. Data encryption, secure coding practices, and identity and access management (IAM) ensure data privacy and compliance.

Manageability and Support

A centralized monitoring and management platform (e.g., AWS CloudWatch, Azure Monitor) will enable real-time performance tracking, alerting, and troubleshooting. DevOps practices, including Continuous Integration/Continuous Deployment (CI/CD), automate updates and patches, reducing downtime and improving security.

Implementation Phases

  • Initial planning and requirements analysis
  • Design of the architecture components
  • Development and containerization of banking applications
  • Deployment on cloud infrastructure with security configurations
  • Testing for scalability, security, and performance
  • Deployment to production with continuous monitoring

Conclusion

Building an effective technical architecture for the internet bank involves integrating scalable cloud infrastructure, secure database systems, microservices applications, and comprehensive security measures. This architecture not only aligns with the key success factors identified but also provides the foundation for a flexible, reliable, and secure online banking platform capable of long-term growth and customer satisfaction.

References

  • Abomhara, M. (2015). Security and privacy in the Internet of Things. Journal of Cyber Security Technology, 1(1), 33-50.
  • Gopalakrishnan, V., & Shah, G. (2019). Cloud computing for scalable and secure financial services. Journal of Financial Innovation, 5(2), 1-16.
  • Hassan, W., & Atkinson, R. (2020). Microservices architecture for financial applications: Benefits and challenges. IEEE Software, 37(4), 62-69.
  • IBM Cloud Security. (2021). Cloud security best practices for financial institutions. IBM. https://www.ibm.com/security/cloud
  • Microsoft Azure Security Documentation. (2022). https://docs.microsoft.com/en-us/azure/security/
  • Nguyen, T., & Nguyen, M. (2021). Designing scalable online banking systems: A cloud-based approach. Journal of Information Technology in Banking & Finance, 12(3), 45-59.
  • Open Web Application Security Project (OWASP). (2023). Top ten web application security risks. https://owasp.org/www-project-top-ten/
  • Sommer, R., & Frye, C. (2017). Data encryption techniques for financial systems. Journal of Financial Data Security, 3(2), 78-87.
  • Stamatakis, E., & Papadopoulos, S. (2020). Implementing GDPR compliance in cloud banking applications. International Journal of Cybersecurity, 8(2), 124-137.
  • Vacca, J. R. (2014). Computer and Information Security Handbook. Elsevier.

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