Holistic Islamic virtual banking system: SOA parameter- based semantic approach (HiCORE)

Abstract

The Holistic Islamic Banking System: (HiCORE) is a university and industry collaboration initiative between Universiti Kebangsaan Malaysia (UKM) and Fuziq Software Sdn Bhd., sponsored through the Techno Fund Grant of the Ministry of Science, Technology and Innovation, Malaysia. HiCORE, is modeled on a Multi-tiered Services Oriented Architecture (SOA), using the parameter-based Multimedia semantic approach. The research conducted is timely as the financial world is looking for a new approach to banking and financial system. The interest free banking system caught the interest of bankers and financiers all over the world. Today, it is in line with the Islamic banking, financial and related commercial activities, consistent with the syariah principles propagated since the time of the Prophet (p.b.u.h). This paper highlights the conceptual framework of HiCORE, its architecture and the modules designed based on the Cognitive-Intuitive Life Cycle Development model (CI-HiCORE). The paper shall also highlight examples of the DFD or ERD modeling of the Software Requirement Specification (SRS) and the Software Design Specifications (SDS) of HiCORE.