Task One Automated Teller Machines
1. See diagram over page for Input and output devices
This kind of interface is an interactive interface with buttons. I
think this would be improved considerably and the ways that I think
will be improved by more security on the machines. I think they will
have devices like retina scans, voice activation and thumbprints. At
the moment the only security is PINS and cards but they can be stolen
and I think they will improve the security more.
2. The process for a customer obtaining cash is called transaction
processing in real time.
This kind of processing is called transaction processing. If the cash
withdrawal is required, the customer enters the amount they want from
the machine. This is then checked against the balance of the account
and if funds are available of the account, the machine dispenses
money. Also at the same the amount from the account is subtracted from
the balance on the customer's record on the bank computer. When it's
finished the card releases back the card to the customer.
[IMAGE]Other services are available are withdrawal of cash, ordering
of statements, requests for new chequebooks and obtaining the balance
of the account.
Advantages
Disadvantages
To the Bank
Employs fewer people
High level of security needed
It is cheaper than paying staff
Hackers could break into the machines
Less need to build banks and money could be used elsewhere
Employees loose their jobs.
To the customer
It is fast.
Credit cards could be stolen
It can be accessed anytime
The magnetic strips can be damaged by the ATM
They can get it anywhere
The card has to be replaced from time to time
3. Bank cards, credit and debit cards
Diagram front and back
PIN stands for Personal Identification Number, it acts like a
password, and the user enters it to the ATM keypad to verify that they
are the account holder. The PIN helps to reduce fraud.
The information stored on the magnetic strip is account numbers, bank
sort code, system number, cheque digit
Task two - Cheque clearing
There are three sets of numbers printed along the bottom of the cheque
using magnetic ink and machines can automatically read these numbers.
MICR stands for Magnetic Ink Character Recognition, it works by
inputting special ink onto cheques and the ink then is magnetised. The
limits are that very few characters could be recognised but it can be
read quite fast. The special ink then is recognised by using a process
called MICR. It's used on cheques because it has high security and if
the special has been tampered on, the computer can still read the data
on the special magnetised ink.
The cheque clearing process is called Transaction Processing; it
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