Recommendations for the First World Bank Savings and Loan online Banking Project

Executive Summary

 IS4670 Unit 4 Project Part 1

                                                          04/15/2015

                              Project Summary

We have been asked to provide recommendations for the First World Bank Savings and Loan online banking project. This will include recommendations for architecture, a security framework, and regulations for compliance. The problem given is that Proprietary licenses costs exceed the budget and an Open Software solution is being proposed that can save a potential of an estimated $4 million in fees and licensing.

                                 Background

The research has been conducted due to the fact that an online secure banking infrastructure is needed to expand the First World Bank Savings and Loans revenue and give its customers more convenient on-the-go banking methods. This is the second phase of research being completed. Phase 1 included the cost savings and recommended hardware.

                                 The Team

• - Consultant
• - Designer and Engineer
• Task Team- Anonymous
• First World Bank Savings and Loan CFO- IM Greedy Jr.

                                  Process

• The research conducted was done over a period of weeks and is based on the needs of the First World Bank Savings and Loan project but can be compatible for any financial institution looking at an open source solution.
• Data collected came from many different sources for banking and government regulations. Some of the websites information was collected from was NIST, FFIEC, Linux.org,  Securities and Exchange Commission

                Findings and Conclusions

• Cost savings estimate $4 million savings in licensing
• Apache HTTP Server 2.2.19 contains many new modules to continue to improve security
• Funambol- program provides a server for data syncing and device management across the entire network, by supporting Open Mobile Alliance, DM 1.2 and SyncML standards
• Server recommendations- eToolz, Fing, Advanced IP Scanner, DNSCrypt, DNS Benchmark Tool, Fire Sheep, and DroidSheep. These are the complete software tools that build security in to the DNS server
• Virtualization- Virtual Box 4.1.- Provides scalability and offers support to host and guest VM’s up to 1TB of RAM and more than a thousand VM’s on one host
• Laws and regulations applicable to this project are the Gramm-Leach-Billey Act, Patriot Act, FDIC regulations and guidelines, and NIST guidelines
• Tiered architecture recommended for Linux-based infrastructure
• Security Framework recommendation is the LSM or Linux Security Module Framework

               Recommendations for Further Action

• Phase 3 be started as soon as this phase has approval
• Research points to new investments in Open Source Tiered  Architecture
• Task Team is responsible for implementation of plan

This Summary was written and not taken from any template on a website.