BankingX is a scalable core banking system being developed to handle real-time transactions, fraud detection, and ensure security and regulatory compliance. This system integrates advanced fraud detection techniques, transaction security, and data protection measures to provide a reliable and compliant banking infrastructure.
- Core Banking Operations:
- Multi-currency account management
- Real-time transaction processing
- Ledger management for accurate financial records
- Fraud Detection:
- Machine learning models to detect suspicious transactions and prevent fraud in real-time
- Security & Compliance:
- End-to-end data encryption (AES-256)
- KYC (Know Your Customer) and AML (Anti-Money Laundering) compliance
- Audit logs for regulatory adherence
- Risk Scoring:
- AI-powered transaction risk scoring to identify high-risk transactions
- Automatic flagging and actions for suspicious activities
- API-First Design:
- RESTful APIs for seamless integration with third-party services
- Backend: Golang (for high-performance backend services)
- Database: PostgreSQL (for transaction data and account management)
- Security: JWT for authentication
- API: RESTful API for future scalability and third-party integrations
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- Auth: User authentication service using JWT (Progress: 80%)
- KYC/AML: Know Your Customer and Anti-Money Laundering compliance checks. (Progress: 60%)
- Account Management: Multi-currency accounts and balance management. (Progress: 60%)
- Transaction Service: Real-time processing of deposits, withdrawals, and transfers. (Progress: 0%)
- Fraud Detection: Machine learning models to detect and block fraudulent transactions in real-time. (Progress: 0%)
- Risk Scoring: Implementing AI-powered transaction risk assessment. (Progress: 0%)
- Audit Logging Service: Real-time logging for compliance and auditing purposes. (Progress: 0%)