NeoFin: A Secure Full-Stack Core Banking System for Digital Banking Applications

Abstract

Developing and implementing a fully functional core banking system for digital banking activities with an Internet-based secure architecture is the goal of this project. The system is designed to address various issues in traditional banking infrastructures, such as manual processes, slow transaction speeds, and inefficiency. The project adopts a client-server architecture using React.js, Node.js, and MongoDB, along with secure user authentication using JSON Web Tokens (JWT). The implementation is divided into frontend development, backend development, and database integration. The system was tested using functional testing to evaluate performance, accuracy, and security. The results show that the system operates efficiently, provides fast transaction processing, and ensures enhanced data security. Additionally, the system integrates AI-based cheque processing and analytics features, improving automation and reporting capabilities. Overall, the proposed solution enhances efficiency, reliability, and user satisfaction in digital banking.