Posted: August 11th, 2022

Bounded contexts for a new bank

Computer Sciences and Information Technology
Topic:
Bounded contexts for a new bank
Bounded Contexts
1. Identify important bounded contexts for a new bank
2. Describe how the bounded contexts relate and can be integrated
3. Create a context map for the systems used by a bank
If it would be possible when you will write about point 1, please write before number 1 so I would know which text is to which point.
https://codeburst.io/ddd-strategic-patterns-how-to-define-bounded-contexts-2dc70927976e

Bounded Contexts
1. Bounded contexts are software boundaries where specific rules, definitions, and terms apply in a consistent manner (Stenberg, 2019). Such a practice has gained attention over the past years in various sectors as organizations strive to make sense of these boundaries. The banking industry is one that has not been left behind as management tries to use the technique to streamline its operations. These efforts are geared to make use of APIs and micro service architecture through understanding how these bounded contexts can relate and be integrated (Brink, 2018). For a new bank, the issue of bounded contexts presents a complex area with various goals to attain since most times sub-domains and bounded contexts are misaligned. Such simple mistakes may lead new banks to have messy systems due to coinciding bound contexts.
Some of the important bound contexts for a new bank involve alignments to business capabilities (Samohkin, 2017). First, the banks domains are broken down into sub-domains to understand the bounded contexts that are vital to each process. Some of the units within a new bank include deposit accounts, customer management, investment banking, retail lending, credit, and self-serving banking. Within each banking process, there are bounded contexts involved within each subdomain. For self-serving banking, there are two identified bounded contexts which are “point of sale” and “online banking”. For customer and card management, there is the bounded context referred to as “customer information.” There is also the “customer identity bounded context that pertains to security and controls. “consumer payments and transactions” are other bounded contexts that deal with customer transactions through their account. After these bounded contexts are identified, it becomes relatively easy to determine how they relate and integrate with each other.
2. For the bank to be functional, the identified bounded contexts need to be relate with each other (Brink, 2018). Clients may use online banking to configure their preferences after they sign up. They can determine payment solutions via payment management options that are focused on the consumer. These payment information will largely rely on customer information to enable the payment management options through details made available over the customer portfolio. The same customer information bounded context will be used by the client activity analysis services to generate a financial profile for the consumer (Brink, 2018). Due to recent advancements in technology the possibilities of mobile banking will allow the consumer to perform payments and transactions from their devices. An authorization service will therefore be called to confirm the identity of the client. The authorization service will then generate payment profiles for each time the client conducts payments or transactions. This builds up on the customer information that is stored within the system. Upon completion of payment, the payment is posted to the service to show that it was completed and the client can access their desired products or services from the point of sale.
Overall, a significant amount of computations will be needed to ensure the bounded contexts are reliable. Banking involves a good deal of mathematical functions within the various departments (Alali, 2017). These various sectors include accounting, pricing, risk modelling, debt sales, affordability, and corporate finance. As much as the bounded context may seem general at first glance, a lot of mathematical expressions are used to make them possible. However, generating a model to map out the bounded contexts makes it easier to learn of the relationships cutting across the various models.
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References
Alali, E. (2017). DDD: Every Domain has Multiple-Languages. Retrieved from https://medium.com/tech-sojourna/ddd-every-domain-has-multiple-languages-d21fc3825cb
Brink. M. (2018). Designing a system of Micro-services. Retrieved from https://www.itweb.co.za/content/WnpNgM2AgW37VrGd
Stenberg, J. (2019). Defining Bounded Contexts – Eric Evans at DDD Europe. Retrieved from https://www.infoq.com/news/2019/06/bounded-context-eric-evans/
Samohkin, V. (2017). DDD Strategic Patterns: How To Define Bounded Contexts. Retrieved from https://codeburst.io/ddd-strategic-patterns-how-to-define-bounded-contexts-2dc70927976e

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