DESIGN AND IMPLEMENTATION OF AN ONLINE MOBILE REPONSIVE BANKING USING BLOCKCHAIN TECHNOLOGY (IVIA BANK)

ABSTRACT The integration of blockchain technology into the online banking system aims to enhance the efficiency,security,and transparency of financial transactions. Blockchain, a decentralized and immutable ledger, offers a solution to several challenges faced by traditional banking systems,such as fraud, slow transaction processing, and high operational costs. By adopting blockchain,banks can streamline their operations, reduce intermediaries, and ensure faster settlement times, improving customer experience and reducing the risk of financial crimes. The research also employs a mixed-method approach, combining theoretical analysis with practical implementation. Initially, blockchain protocols such as Ethereum is evaluated to determine their suitability for banking applications. A prototype system was then developed using smart contracts for transaction validation and a private blockchain for secure data storage.The system was tested for ii scalability, security, and compatibility with existing banking infrastructures. Surveys and interviews with industry experts and banking professionals provided qualitative insights into potential adoption challenges. The integration of blockchain into the online banking prototype demonstrated significant improvements in transaction speed and security. The use of smart contracts automated processes such as fund transfers and compliance checks, reducing operational costs by 25%.Furthermore, the decentralized architecture eliminated single points of failure,enhancing system resilience against cyberattacks. However, scalability issues and regulatory concerns were identified as barriers to full- scale adoption. The findings confirm that blockchain technology has the potential to revolutionize online banking by offering a secure and efficient platform for transactions. While the prototype's results are promising, further research is needed to address scalability and regulatory compliance. The study highlights the importance of collaboration between technology developers, financial institutions, and policymakers to realize blockchain's full potential in the banking sector.