Formal specification of a particular banking domain with RAISE specification language

The use of formal methods in real industrial projects is increasing, but is still a small percentage of the total number of project undertaken. New software engineering has served formal methods in the development of critical-safety systems. It consists of three phases: domain engineering, requirement engineering, and software design. Formal methods are the basis of domain engineering to develop reliable software for critical systems because these methods are based on mathematics and logic. Therefore, they are approvable. This paper outlines some of the benefits, barriers, and applications of formal methods and the concept of domain engineering. It then formulates and specifies a particular banking domain with RAISE specification language (RSL).