Review Paper on NextGen Banking: A Secure and Scalable Banking System

Abstract

This research introduces NextGen Banking, an innovative web-based banking system that prioritizes security, scalability, and superior user experience. Leveraging the Spring Boot framework with MVC architecture and PostgreSQL integration, the platform automates essential banking operations—including user account management, transactions, loans, and card services. The study delves into the system’s technical architecture, layered design, and robust security mechanisms, while also addressing key implementation challenges and solutions. Designed for modern financial institutions, NextGen Banking offers a seamless, efficient, and future-proof alternative to traditional banking systems.

Introduction

NextGen Banking Overview

NextGen Banking is a modern, full-stack banking solution built with Java Spring Boot and related technologies, designed to replace outdated legacy banking systems. It emphasizes modularity, security, scalability, and user-friendly interfaces to meet current customer demands such as real-time access, faster transactions, and comprehensive financial management features.

Key Features & Objectives:

• Secure banking application using Spring Boot, Spring Security, JPA, and PostgreSQL.

• Core modules include user registration, account management, card services, and transaction tracking.

• Focus on modern security practices and consistent data management.

Literature Review:
Existing banking solutions often use enterprise frameworks but are either closed-source or complex. Spring Boot offers a powerful, extensible platform ideal for academic and practical banking prototypes, addressing gaps like transaction handling and security found in prior projects.

System Architecture:

• Three-layer design: Presentation (JSP), Business Logic (Services), and Data Access (JPA with PostgreSQL).

• Integrates voice-based desktop assistant features under the name JARVIS.

Implementation:

• Runs on Windows/Linux with Java 17+, Spring Boot 3.x, PostgreSQL 14+.

• Utilizes libraries like spring-boot-starter-web, data-jpa, security, and JSP/Thymeleaf engines.

Applications & Benefits:

• Suitable for banking institutions, startups, and educational projects.

• Enhances productivity with secure, scalable transaction processing and admin tools.

• Incorporates strong security features: password hashing (BCrypt), role-based access control, and protection against SQL injection.

Conclusion

NextGen Banking bridges the gap between theoretical knowledge and enterprise-level implementation in the fintech domain. It showcases how Spring Boot, combined with robust database design and security practices, can create a complete digital banking system. The modularity and extensibility make it suitable for future upgrades like payment gateway integration and AI-based fraud detection. As a final-year project, it holds academic, professional, and practical value.

References

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Copyright

Copyright © 2025 Sachin Tiwari, Ankita Dubey, Udit Narayan Tiwari, Anujsen Yadav. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.