A Project Report on

Write Project Title Here

Submitted by,

Harsh Ranjhan (202301040036)

Kasak Zutshi (202301040041)

Nishii Agarwal (202301040219)

Kenisha Koul (202301100004)

Guided by,

Dr RM Goudar

A Report submitted to MIT Academy of Engineering, Alandi(D), Pune, An

Autonomous Institute Affiliated to Savitribai Phule Pune University in partial
fulfillment of the requirements of

SECOND YEAR BACHELOR OF TECHNOLOGY in

Computer Engineering

School of Computer Engineering MIT

Academy of Engineering
(An Autonomous Institute Affiliated to Savitribai Phule Pune University)
Alandi (D), Pune – 412105

(2024–2025)
 CERTIFICATE

It is hereby certified that the work which is being presented in the Second Year Major
Project–1 Report entitled “FINEX: One step banking solutions”, in partial fulfillment of
the requirements for the award of the Bachelor of Technology in Computer Engineering
and submitted to the School of Computer Engineering of MIT Academy of Engineering,
Alandi(D), Pune, Affiliated to Savitribai Phule Pune University (SPPU), Pune , is an
authentic record of work carried out during Academic Year 2024–2025 Semester III,
under the supervision of Dr RM Goudar, School of Computer Engineering

Harsh Ranjhan (202301040036)

Kasak Zutshi (202301040041)

Nishii Agarwal (202301040219)

Kenisha Koul (202301100004)

Name of Project Guide Dr RM Mr. A. H. More Project

Goudar Coordinator

Dr. R. M. Goudar Dean

External Examiner
 DECLARATION

We the undersigned solemnly declare that the project report is based on our own work
carried out during the course of our study under the supervision of Dr RM Goudar.

We assert the statements made and conclusions drawn are an outcome of our project
work. We further certify that

1. The work contained in the report is original and has been done by us under the
general supervision of our supervisor.

2. The work has not been submitted to any other Institution for any other
degree/diploma/certificate in this Institute/University or any other Institute/University
of India or abroad.

3. We have followed the guidelines provided by the Institute in writing the report.

4. Whenever we have used materials (data, theoretical analysis, and text) from
other sources, we have given due credit to them in the text of the report and
giving their details in the references.

Harsh Ranjhan (202301040036)

Kasak Zutshi (202301040041)

Nishii Agarwal (202301040219)

Kenisha Koul (202301100004)
 ABSTRACT

This report presents a detailed summary on comprehensive fintech platform that integrates
international transactions, financial lifestyle tracking, cryptocurrency handling, microfinancing
and local transaction capabilities within a single, secure, and user-friendly interface. As the
need for seamless, borderless financial transactions increases, this platform seeks to bridge
gaps in traditional banking, offering enhanced convenience, financial insight, and market
accessibility for users worldwide. The aim of the project was to create a swift, secure and
seamless interface that enables users and exposes them to a scalable, multi-feature fintech
solution poised to transform user engagement with personal finance by leveraging secure
online protocols, real-time analytics, and cross-border compatibility.

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 ACKNOWLEDGEMENT

We the members would like to convey our sincere gratitude to the Management, Director, and
Dean of School of Humanities and Engineering of MIT Academy of Engineering, Pune for
emphasizing on the SY Minor Project and giving us the platform to develop our skills and work
towards gaining knowledge.
We would also like to appreciate the hard work and amazing guidance provided by our project
guide and mentor, Dr RM Goudar who not only provided us with top notch technical knowledge,
guided us through the project but also helped us boost our confidence by being extremely
benevolent. This project would not have been possible without the support of our advisors,
team members, and industry experts who contributed their time and expertise.

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Contents

Abstract i
v
v
Acknowledgement
1

1 Introduction

1.1 Background . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1

1.2 Motivation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

1.3 Project Idea . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

1.4 Proposed Solution . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5

1.5 Project Report Organization (Chapter wise summary) . . . . . . . . . 5

2 Literature Review 6

2.1 Related work And State of the Art (Latest work) .. . . . . . . . . . 6

2.2 Limitation of State of the Art techniques . . . . . . . . . . . . . . . . 7

2.3 Discussion and future direction .. . . . . . . . . . . . . . . . . . . . 7

2.4 Concluding Remarks . . . . . . . . . . . . . . . . . . . . . . . . . . . 7

3 Problem Definition and Scope 8

3.1 Problem statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

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 3.2 Goals and Objectives...........................................................................................8

3.3 Scope and Major Constraints...............................................................................8

3.4 Hardware and Software Requirements...............................................................8

3.5 Expected Outcomes.............................................................................................8

4 System Requirement Specification 9

4.1 Overall Description..............................................................................................9

4.1.1 Block diagram/ Proposed System setup.................................................9

4.1.2 Circuit Diagram (If Applicable) and explanation.....................................9

4.1.3 Mechanical Drawing (If Applicable)........................................................9

4.1.4 Use Case Diagram (If Applicable)............................................................9

4.1.5 Sequence Diagram (If Applicable)...........................................................9

4.1.6 Activity Diagram (If Applicable)...............................................................9

4.1.7 Related mathematical modelling............................................................9

4.1.8 Hardware and Software Requirements...................................................9

4.2 Project Planning...................................................................................................9

5 Proposed Methodology 10

5.1 System Architecture...........................................................................................10

5.2 Mathematical Modeling....................................................................................10

5.3 Objective Function.............................................................................................10

5.4 Approach............................................................................................................10

6 Conclusion 11

6.1 Conclusion..........................................................................................................11

vi
 6.2 Future Scope......................................................................................................11

Appendices 12

A Laplace Transform 13

B Sponsorship Certificate 15

References 16

vi
List of Figures

1.1 Flowchart depicting transaction procedure in banking servers…...................11

1.2 Diagram explaining workflow of traditional banks………………………………………12

ix
Chapter 1

Introduction

1.1 Background

Innovative improvements in the course of the most recent decade have

yielded a few particular embedded platforms equipped for detecting,
computing and communication. The global financial landscape is rapidly
evolving, with traditional banking systems struggling to keep pace with the
demands of a digitally connected world. Cross-border transactions, lifestyle
management, and crypto currency handling are areas that require
innovative solutions to address inefficiencies and security concerns. An
immediate outcome of these improvements has been the development of,
and consequent substantial scale research and engineering centered in the
region of financial technology. The rise of digital banking and fintech
solutions has reshaped the financial services landscape. Traditional banks,
limited by rigid infrastructure and hectic workload, cannot always meet the
modern needs of globalized users. Customers now demand a more
integrated approach where they can handle diverse financial activities such
as international transactions, lifestyle financial insights, and crypto
currency management, all within one platform. The biggest shortcoming of
traditional banking services is their lack of digitalization, which in turn
makes it necessary to keep physical records that might be unreliable and

1
definitely time consuming. The traditionally setup banks however aren’t
well equipped to cater such services to their customers thereby creating a
lag between the customer need and services. This project aims to address
those needs by creating a versatile fintech platform that seamlessly merges
these aspects, ultimately empowering users and granting unprecedented
financial control.

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The below flowchart depicts in detail the procedures involved while performing
any transaction and how it is processed through the banks servers. It briefly
highlights what is to be done when transaction is complete and what steps are
undertaken in case something goes wrong or there is an issue. Through this
diagram it is quite evident that this system of banking and transaction is detailed
and requires extensive work but still there are chances of mishaps.

1
Below is a flowchart that briefly explains the basic work flow in banks and how
certain procedures are carried out. Most of the operations mentioned require
repetitive documentation, verification and are extremely time consuming.

1
1.2 Motivation

The motivation behind this project stems from the need to provide a
unified platform that can handle various financial activities efficiently and
securely. By integrating international transactions, lifestyle tracking,
crypto currency handling, and local transactions, the platform aims to
offer a holistic financial solution that caters to the diverse needs of users
and lessens the need of constant physical documentation as the site keeps
records of each activity on secure servers.

The limitations and challenges faced by users in the current banking and
financial ecosystem which this particular interface aims to solve are:

● Accessibility: Traditional banking services are often confined to specific

regions and heavily restricted for international transactions. It is often
noticed that main branches of almost all banks are present only in major
cities with no or little reach to far flung areas or the regions that area a bit
far away. This limits the users and reach of customers and they need to
travel large distances if some work needs to be done. This particular issue
can be very easily tackled by our web interface as all one needs is internet
connection to access all options just in a click of few fingers.

● User Experience: Managing multiple apps for transactions, crypto currency,

and budgeting is inefficient. The banking systems have no or little relation to
advancing new-age currencies like crypto. They still maintain a traditional
outlook and try to stay far away from digital currency due to concerns
regarding its volatility and lack of awareness.

● Adoption of Crypto currency: As digital currency gains popularity, there is a

growing need for accessible and secure crypto currency handling within
mainstream finance. Banks have been hesitant to fully embrace crypto
currencies due to concerns over regulatory uncertainty, market volatility,
and the potential for illicit activities. However, online platforms have played
a crucial role in facilitating crypto currency adoption by providing secure,
user-friendly interfaces for transactions. Many sites on the internet and
even YouTube channels exist out there offering educational resources, and
integrating with traditional financial systems. These platforms help bridge
the gap between traditional banking and the emerging world of digital

1
 currencies, making it easier for both individuals and institutions to
participate in the crypto currency market

● Security Concerns: With the rise of digital finance, security threats have
become increasingly sophisticated, necessitating improved protections. In
times where cashless payments and digitalization are a boon they also serve
as a threat by increasing the risk of digital money getting swiped away
without anyone even noticing. Despite these efforts, digital payments,
including card and internet transactions, have accounted for 10.4% of the
total fraud amount in fiscal year 2024, a significant increase from 1.1% in
the previous fiscal year.

By addressing these challenges, this fintech platform seeks to provide a unified

solution that offers security, ease of use, and comprehensive functionality,
promoting financial freedom and digital accessibility. These are the features that
serve as motivation for building of this project.

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 1.3 Project Idea

The proposed fintech platform will offer users an all-encompassing digital financial
solution, not only does it curb the limitations of traditional banking systems like
delayed paperwork, backward approach, hesitation to use modern currencies etc.
This interface also has additional features that help in making the user experience
way smoother and enhanced and all of these ideas are mentioned below:

● International Transactions: Swift, secure, and seamless cost-effective cross-

border transactions with minimal of no convenience fee.

● Lifestyle Tracking: Real-time insights into spending, saving, and budgeting.,

if allowed the application is catered to the needs and flexibility of users in
such a way that it helps them keep a check on their expenses, helps them
see insights about their habits and how much of their income goes into
savings and what part do they set aside for activities like trading, investing.
The platform will leverage artificial intelligence and machine learning to
provide personalized financial insights and recommendations to users.

● Local Transactions: Easy handling of local purchases and payments via the
platform.

● Fintech and Digital Banks: Similar to Digital banks like N26, Monzo, and
Chime our web app interface too that offer free or low-cost international
payments as part of their services, using advanced technologies and
partnerships to lower costs.
● Horizon bank offers zero-fee transfers up to a certain amount or for specific
types of

By combining these features, this project aims to create a "one-step financial

solution” that aligns with modern digital lifestyles, helping users manage finances
comprehensively in a single, unified application.

1
FUTURE PLANNINGS:

Although the product is currently worked upon by the team and we aim to
achieve all the objectives and tasks mentioned, we also have a few features that
aren’t yet implemented but we aim to integrate them into our interface in the
later stages.

Such features are as follows:

● Application : Integration of the currently in building web interface into a

fully functional application

● Crypto currency Management: Secure crypto currency transactions and

wallet integration. This feature allows individuals to keep track of their
crypto transactions too.

● Currency converter : The interface would also can directly see the
conversion of your money in different currencies across the globe

● In-App Customer Support & Chat bot : Integration of services like chat bot
which helps in smoothening the user experience and handle issues relating
to the application with much ease. These features make the app much more
user friendly

● Subscription management and auto pay facility: In today’s busy lifestyle

people prefer that most of their tasks be done without much of their
involvement hence, seeing this nature of customers we can implement an
auto pay facility wherein for certain verified and trused sites like netflix,
spotify amazon prime etc the app would facilitate auto pay options. Using
this feature the user would directly within the app, set reminders for
upcoming payments, and even pause or cancel subscriptions as per their
convenience.

1.4 Proposed Solution

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The project proposes the development of a cross-platform fintech application that
leverages secure transaction protocols, real-time analytics, and block chain
technology for crypto currency handling. The proposed solution involves the
development of a block chain-based platform that supports international
transactions, lifestyle tracking, crypto currency handling, and local transactions.
The platform will leverage artificial intelligence and machine learning to provide
personalized financial insights and recommendations to users. Key features
include:

● Multi-Currency Support: Allows seamless international transaction

capabilities in various currencies like rupees, dollars, crypto etc.

● Digital Wallet Integration: Supporting both fiat and crypto currencies with
secure wallet management.

● Financial Insights and Lifestyle Tracking: AI-driven insights and budgeting

tools that provide users with better control over their finances and help
maintain personal checks on their spending and saving habits..

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 1.5 Project Report Organization (Chapter wise summary)

The report is organized as follows:

● Chapter 1: Introduction, background, and project motivation.

● Chapter 2: Literature review of fintech technologies and existing solutions.
● Chapter 3: System design, highlighting architecture, security protocols, and
user interface.
● Chapter 4: Implementation details, hardware and software requirements.
● Chapter 5: Testing methodologies, performance evaluation, and user
feedback.
● Chapter 6: Conclusion, limitations, and future work.

1
 Chapter 2

Literature Review

2.1 Related work And State of the Art (Latest work)

When the switch is opened i.e. in OFF state, the diode provides a path for
the inductor current. The voltage across switch is (Vi + Vo). The voltage
across the inductor is −Vo and causes the inductor current to decrease
linearly with the slope of −Vo/L.
∫

∆iL(off ) = L
toff V
dt (2.1)
L
ton
−
∆iL(off ) Vo (2.2)
= tL
off

Since the duration of time when the switch OFF is given as, toff = (1 − D) T .
Then the equation (2.2) is written as,

∆iL(off ) Vo
= − (1 − D) T

(2.3)
L
For steady state operation, the net change in inductor current must be
zero over one period of time.
∆iL(on) + ∆iL(off) = 0

(2.4) Substituting equation (??) and (2.3), into equation (2.4) and on

simplifying we get,
2
 Vo
D
=
Vi 1
−D
(2.5)

2
2.2 Limitation of State of the Art techniques

2.3 Discussion and future direction

2.4 Concluding Remarks

2
 Chapter 3

Problem Definition and Scope

3.1 Problem statement

Build an innovative virtual banking application which offers a seamless, secure,

and intuitive online experience. It should simplify the user interactions and
provides flexible management of multiple accounts, bridging the gap between
cumbersome traditional banking and the effortless simplicity modern users desire.

3.2 Goals and Objectives

The following are the goals and objectives for the same:

● The inspiration for Fundx came from the need to simplify and modernize
online banking. We aim to enhance user experience with a secure,
intuitive platform that integrates advanced technologies and connects
seamlessly to banks

● Another objective was to build a platform that supports transactions and

them so easy that it enables even a moderately qualified person to
perform such transactions irrespective of their educational qualifications.

● The application also addresses common pain points and driving innovation
in fintech. Additionally, security compliance for Fundx aims to be
thoroughly prepared such that in future, no one will be able to question
the security of the app

3.3 Scope and Major Constraints

3.4 Hardware and Software Requirements

3.5 Expected Outcomes

2
2
Chapter 4

System Requirement Specification

4.1 Overall Description

4.1.1 Block diagram/ Proposed System setup

4.1.2 Circuit Diagram (If Applicable) and explanation

4.1.3 Mechanical Drawing (If Applicable)

4.1.4 Use Case Diagram (If Applicable)

4.1.5 Sequence Diagram (If Applicable)

4.1.6 Activity Diagram (If Applicable)

4.1.7 Related mathematical modelling

4.1.8 Hardware and Software Requirements

4.2 Project Planning

2
Chapter 5

Proposed Methodology

5.1 System Architecture

5.2 Mathematical Modeling

5.3 Objective Function

5.4 Approach

2
Chapter 6

Conclusion

6.1 Conclusion

6.2 Future Scope

2
Appendices

2
Appendix A

Laplace Transform

The Laplace transform method is an operational method that can be used for solv- ing
linear differential equations. Laplace transforms can be used to convert many common
functions, such as sinusoidal functions, damped sinusoidal functions, expo- nential
functions, into algebraic functions of a complex variable s. Operations such as
differentiation and integration can be replaced by algebraic operations in the com- plex
plane. Thus, a linear differential equation can be transformed into an algebraic
equation in a complex variable s. If the algebraic equation in s is solved for the
dependent variable, then the solution of differential equation (the inverse Laplace
transform of the dependent variable) may be found.

An advantage of the Laplace transform method is that, when the differential equation is
solved, both the transient component and steady-state component of the solution can
be obtained simultaneously.

2
Laplace Transform Pairs

f(t) F(s) f(t) F(s)

1
δ(t) 1 (step) 1
s
1 t2 1
(ramp) (parabola)
t s2 2 s3
n! 1
tn e−at s+a
sn
+1

1 n!
2
t e−at (s + a) tn e−at (s + a)n+1
ω s
sin ωt cos ωt
s2 + ω2 s2 + ω2
ω s
e−at sin e−at cos
ωt (s + a)2 + ωt (s + a)2 +
ω2 ω2
1 1 1 s
e−at − e−bt b b e−bt − a e−at b
−a (s + a) (s + −a (s + a) (s + b)
b)
1 1
1 − e−at
a s (s + a)

3
Appendix B

Sponsorship Certificate

3
 References

Ackermann, J., & Utkin, V. (1998). Sliding mode control design based on ackermann’s formula.
IEEE Transactions on Automatic Control , 43 (2), 234-237.
Mendeley. (n.d.). Retrieved 2022-10-20, from https://www.elsevier.com/en-in/
solutions/mendeley
She, J., Zhang, A., Lai, X., & Wu, M. (2012). Global stabilization of 2-DOF underac- tuated
mechanical systems - an equivalent-input-disturbance approach. Nonlinear Dynamics, 69
(1-2), 495-509.
She, J.-H., Kobayashi, H., Ohyama, Y., & Xin, X. (2004, December). Disturbance esti- mation and
rejection - an equivalent input disturbance estimator approach. In 43rd ieee conference
on decision and control (p. 1736-1741). Atlantis, Paradise Island, Bahamas.
Utkin, V. I. (1992). Sliding mode in control and optimization. Berlin, Germany: Springer- Verlag.
Young, K.-K. D. (Ed.). (1993). Variable structure control for robotics and aerospace application.
Amsterdam, Netherlands: Elsevier Science.