Nyc app info?

How do I build a mobile banking app (technical specifications and info to get from bank)?

• I am a developer and I would like to propose an app to a bank i know from back home which currently does not have a mobile banking app. I want it to be a smartphone app or web app, which allows just the simple things like checking your balance, transferring to another account, scheduling transfers and locating ATM's. I know banking apps need a lot of security so i would like to know which  standards the app has to meet. Also i would like to know which information i should request from the bank in order to be to execute the tasks mentioned above. What is some other advice you would also give me whilst i am having a go at it. What are the technical specifications or documentation for such an app? Can i do it with RoR?'

• Answer:

  Well for starters, you need to know encryption ans secure communication on app development. That would be one of the keys. Secondly, you need a sandbox environment for you to test the application, this is highly dependent on the core-banking system that the bank you want to work with uses. Chances are, you will not be allowed anywhere near it, let along work on it. Most core-banking softwares like Temenos T24, or Misys Midas Plus have their own APIs that you can call and use. You need to understand APIs in order to work and develop a mobile banking application, because this is predominantly what you will be working with. Last, but not the least, you will need to learn something about tokens and authentication. Authentication measures would be on top of the list for any mobile banking app you make. Understanding what sort of authentication measures the bank you work with, would like to take, would be of much importance. No bank worth its salt will take an unsolicited developer's plea to work with him/her to develop a mobile banking application from scratch. The big boys like the Temenos and Misys are not oblivious to the mobile banking market space, and they have invested in such solutions themselves or are actively promoting their partners who have developed the entire mobile banking application based on their software/solution. In addition to this, 3rd party mobile application frameworks exist that provide complete mobile banking experience on the phone and can communicate with many core-banking solutions. Unless the bank is small and experimental (read: will take a leap of faith), you will have a very difficult time in trying to convince them to work with you, regardless of your credentials and/or capabilities. One additional avenue for you to look at, is the central bank of your country in question. Check and see what sort of guidelines and/or circulars (notes) they have published with respect to Internet / Mobile banking. Such information can come in handy.