The IronBank - Final project
Week 12 (FINAL PROJECT)
Day 3 (Unit 5)
The IronBank - Final project
The IronBank - Final project PROJECT The IronBank - Final Project
iron bank
The IronBank final projects are to be completed individually. You may not collaborate with classmates on this assignment. Should you need assistance, you should reach out to your instructional staff.
This project is designed to be challenging and should be completed as thoroughly as possible.
In this project, you will be building a banking system. You should meet all of the requirements below: Requirements
The system must have 4 types of accounts: StudentChecking, Checking, Savings, and Credit Account.
Checking
Checking Accounts should have:
A balance
A secretKey
A PrimaryOwner
An optional SecondaryOwner
A minimumBalance
A penaltyFee
A monthlyMaintenanceFee
A creationDate
A status (FROZEN, ACTIVE)
StudentChecking
Student Checking Accounts are identical to Checking Accounts except that they do NOT have:
A monthlyMaintenanceFee
A minimumBalance
Savings
Savings are identical to Checking accounts except that they
Do NOT have a monthlyMaintenanceFee
Do have an interestRate
Credit Account
Credit Accounts have:
A balance
A PrimaryOwner
An optional SecondaryOwner
A creditLimit
An interestRate
A penaltyFee
The system must have 3 types of Users: Admins, AccountHolders and ThirdParty.
AccountHolders
The AccountHolders should be able to access their own accounts and only their accounts when passing the correct credentials using Basic Auth. AccountHolders have:
A name
Date of birth
A primaryAddress (which should be a separate address class)
An optional mailingAddress
Admins
Admins only have a name
ThirdParty
The ThirdParty Accounts have an id and a name.
ThirdParty users are to be considered like other banks or institutions.
Operations related to this special kind of user will have to point to an “hashed key ( of 24 characters alphanumeric)” that refers to the account number on the other institution. We really have no control on how the key is hashed and it’s not relevant for us.
Admins can create new accounts. When creating a new account they can create Checking, Savings, or Credit Accounts.
Savings
Savings accounts have a default interest rate of 0.0025
Savings accounts may be instantiated with an interest rate other than the default, with a maximum interest rate of 0.5
Savings accounts should have a default minimumBalance of 1000
Savings accounts may be instantiated with a minimum balance of less than 1000 but no lower than 100
Credit Account
Credit Account accounts have a default creditLimit of 100
Credit Account may be instantiated with a creditLimit higher than 100 but not higher than 100000
Credit Account have a default interestRate of 0.2
Credit Account may be instantiated with an interestRate less than 0.2 but not lower than 0.1
CheckingAccounts
When creating a new Checking account, if the primaryOwner is less than 24, a StudentChecking account should be created otherwise a regular Checking Account should be created.
Checking accounts should have a minimumBalance of 250 and a monthlyMaintenanceFee of 12
Interest and Fees should be applied appropriately
PenaltyFee
The penaltyFee for all accounts (that have this attribute) should be 40.
If any account drops below the minimumBalance, the penaltyFee should be deducted from the balance automatically
InterestRate
Interest on savings accounts is added to the account annually at the rate of specified interestRate per year. That means that if I have 1000000 in a savings account with a 0.01 interest rate, 1% of 1 Million is added to my account after 1 year. When a savings account balance is accessed, you must determine if it has been 1 year or more since either the account was created or since interest was added to the account, and add the appropriate interest to the balance if necessary.
Interest on credit accounts is added to the balance monthly. If you have a 12% interest rate (0.12) then 1% interest will be added to the account monthly. When the balance of a credit account is accessed, check to determine if it has been 1 month or more since the account was created or since interested was added, and if so, add the appropriate interest to the balance.
Account Access
Admins
Admins should be able to access the balance for any account and to modify it.
AccountHolders
AccountHolders should be able to access their own account balance
Account holders should be able to transfer money from any of their accounts to any other account (regardless of owner). The transfer should only be processed if the account has sufficient funds. The user must provide the Primary or Secondary owner name and the id of the account that should receive the transfer.
Third-Party Users
There must be a way for third-party users to receive and send money to other accounts.
Third-party users must be added to the database by an admin.
In order to be able to receive and send money, Third-Party Users must provide their hashed key. They also must provide the amount, the Account id and the account secret key.
Extra features (bonus)
Fraud Detection
The application must recognize patterns that indicate fraud and Freeze the account status when potential fraud is detected.
Patterns that indicate fraud include:
Transactions made in 24 hours total to more than 150% of the customers highest daily total transactions in any other 24 hour period.
More than 2 transactions occurring on a single account within a 1 second period.
A client to interact with the API.
It can be a client based client, a Swing application, or something more elaborated like an MVC application or React/Angular app.
Microservices Architecture
The project can be builded with microservices architecture in mind. With a gateway and eureka server.
Cloud Deploy
Deploy your project on the cloud so that it can be accessible from the web
Technical Requirements
Include a Java/Spring Boot backend.
Everything should be stored in MySQL database tables.
Include at least 1 GET, POST, PUT/PATCH, and DELETE route.
Include authentication with Spring Security.
Include unit and integration tests.
Include robust error handling.
You must use the com.ironhack.ironbank_monolit.model.account.Money class for all currency and BigDecimal for any other decimal or large number math.
Deliverables
A working REST API, built by you that runs on a local server.
The URL of the GitHub repository for your app.
A simplified class diagram representing your project structure should be added to the repo.
Adequate and complete documentation in the README.md file.
Good luck and have fun!
