Object Based Modeling Of ATM Services †MyAssignmenthelp.com

Question: Discuss about the Object Based Modeling Of ATM Services. Answer: Introduction The use of an ATM system is mainly adopted for helping customers get the best out of their transactional needs. This in turn helps the customers involved to stop visiting the bank for each and every minute details or transactional queries. As a result, the need to carry cash or money all the time is reduced as a transaction can be initiated using ones own ATM card. This report mainly discusses about the general descriptions of the various sub-systems included in the main system. A general discussion of the associated resources to be used in the development of the ATM system is also listed in this report. Moreover, the associated feasibility of the system in terms of the system related aspects are mainly discussed in this report. Lastly, the stakeholders associated to this ATM system are also listed in this report. Vision of the system System problems The main considerations involved in this report belong to the Collins ATM services. The main services that will be integrated in this system will be focused on the betterment of the transactional benefits. Moreover, the various associated stakeholders will be highly benefitted from the development of such services. Additionally, the other sub-systems are also to be integrated in the system in a proper way to help the vision in hand. For addressing these problems, there are various considerations are to be made. The first is the need to secure the system. In case the problems are not solved, then it can pose various impacts to the system. The next is the handling of the system which will require assigning training to the customer and the employees for handling the system. Capabilities of the Sub-systems In the ATM service system, seven different sub-systems are involved. These are: Customer service sub-system: The utilization of this sub-system is mainly adopted for aiding one customer at a time. In addition to this, it is also linked to the card recognition sub-system. By using both these sub-systems, an ATM machine is able to cater the needs of one person at a time. Card recognition sub-system: The card recognition sub-system is mainly focused on identifying the customer who is using the ATM card. The customers are to insert their ATM card into the card reader of the device (Sridharan, Tamil Kumar, 2017). This will be followed by reading the card contents. If in case the card reader is unable to read the card placed by the customer, an error message is displayed which tells the customer to re-insert their ATM card. This process is followed by the PIN verification sub-system. Pin verification sub-system: The utilization of this sub-system is to check the PIN number of the ATM card associated. After reading the ATM card, the system generates a message which tells the user to provide their 6-digit or 4-digit PIN number. This is mainly adopted for providing access to the customer to their own account. However, in case the PIN number entered is incorrect, then three more attempts are given to the customer for re-entering their credentials. Account selection sub-system: The selection of the various types of accounts associated to the banking system is done by this sub-system. After providing access to the system, the user is displayed to enter the type of account. There are basically three different types of accounts involved. They are credit, savings and super saver accounts. Account transaction sub-system:The main involvement of this sub-system is to aid the customers in the type of transactions they are involved with. Depending on the type of involvement, the customers can withdraw funds from their account or deposit funds into their account (Ahmed, 2018). In addition, the system can also display the account balance of the customer. Moreover, the customer can also send funds to another accounts which is known as funds transfer. This transfer is done to an inside or to an outside account. Lastly, this sub-system can also be used to print the transaction history of the customer involved. However, the completion of one transaction can be followed by either using the transactional services again or finishing their transactions which will eject their ATM card. Receipt generation sub-system:The generation of receipts are mainly involved in the general processing of thi8s sub-system. After the occurrence of each transactions, the utilization of this sub-system can be adopted for checking the receipt of their recent transactions. Report generation sub-system: The report generation sub-system is mainly utilized by the Collins bank for collecting the reports of the ATM services. This report can be collected daily, weekly, monthly, quarterly and annually which are then stored in the bank (PhanNham, 2015). This is mainly used for tracking the inflow and outflow related to the cash handling services. Benefits from the process The benefits of the system are: 24 hours operations in a day leading to increased level of convenience for the customers Ease of use which reduces the work pressure from employees Increase in the customer retention rate Better revenue generation system and efficient customer handling systems Resources utilized The resources that will be utilized in developing the system associated is mainly discussed in this section of the report. These resources are discussed due to the fact that they are involved in its development and general processing. Hardware resources: There are many hardware resources that will be utilized in this ATM system. These will basically help in accepting input to the system and generating output. The first hardware to be used is the power supply which will power up the system. The next required hardware is the magnetic card reader which will be involved in reading the contents of the card (Sarker Rashid, 2015). In a similar manner, an input taking keyboard and an output showing monitor is to be used. This will be used in conjunction to an audio speaker which will generate audio outputs. Lastly, the ATM panel will be made up of a cash collection system which will accept and give out cash during transactions. Software resources:Software are also required for building the system. The transaction management software is the first resource which will be used for transactional handling. The card management system is another software that will help in managing the ATM cards. Lastly, the database system will store the information of the various accounts. Communication resources: The availability of communication among the various aspects are necessary in case of the ATM system. The use of a low cost dial-up POS system will be adopted with a close affinity with the central server (Rewilak, 2017). TCP/IP will be used in this case. In addition, the File Transfer Protocol will be used for this system. Use of labor: Labor usage is to be emphasized which will be helpful in the development of the system. This can be done by contracting the vendors for a customized system. Financial resources: The development of the system will incur charges from the bank which will amount to 10,000$. Feasibility The development of the ATM service will be done after considering the feasibility of the system. For the technical feasibility considerations, the contractors are to be contacted for making the system effectively. The economic feasibility of the system must be considered by the bank itself and the charges associated are to be paid. The development of the services can also help in addressing the needs of the customers which will increase the customer engagement. The legal feasibility helps in defining the legal considerations that can help in addressing the problems associated. The security of the system is to be maintained by appointing guards which will also help in protecting privacy of the customer (Ugwuonah et al., 2016). Security of the account is also another consideration to prevent any legal cases. The operational feasibility will be achieved by showing clear instructions along with audio outputs which will help customers to successfully transact. Stakeholders associated There are three stakeholders of the system. The first is Collins bank and the board of directors who will be responsible for the ATM service. The next is the end-users who are the customers and the employees of the system. Lastly, the contractors are also associated to the development of the system. Conclusion Thus, the conclusion that can be drawn from this report is that the involvement of the ATM service can benefit Collins bank. This will also be associated with meeting the customer demands and increasing engagement. This report has successfully analyzed the sub-systems involved in the main system along with the resources that will be utilized in its development. Moreover, the feasibility of this system development is also covered. Lastly, the stakeholder analysis has also been made. References Ahmed, A. A. (2018). Bank-Based Financial Development and Economic Growth: Time-Varying Causality Analysis for Egypt.International Journal of Economics and Finance,10(4), 123. Ganjikhah, A., Rabiee, A., KarimzadeganMoghaddam, D., Vahdat, D. (2017). Comparative Analysis of Banks ATM and POS Technologies By Customers.Independent Journal of Management Production,8(3). Onyesolu, M. O., Okpala, A. C. (2017). Improving Security Using a Three-Tier Authentication for Automated Teller Machine (ATM).International Journal of Computer Network and Information Security,9(10), 50. Phan, C., Nham, P. (2015). Impact of service quality on customer satisfaction of automated teller machine service: case study of a private commercial joint stock bank in Vietnam.Business: Theory and Practice,16, 280. Rewilak, J. (2017). The role of financial development in poverty reduction.Review of development finance. Sarker, M. N. I., Rashid, M. H. O. (2015). An impact of banking activities of private commercial Islamic bank to economic development in Bangladesh: a case study on First Security Islami Bank Limited (FSIBL).Journal of Investment and Management,4(5), 264-272. Sridharan, M. K., Tamil, K. Y. K. R. S., Kumar, K. S. A. (2017). Multi Bank ATM Family Card: Integration Of Multi Bank Multiple User In Single Card With User Behavior Monitoring Using Hmm Formula Verification. Ugwuonah, G. E., Ifeanacho, I. C., Egbo, O., Chuba, I. C. (2016). Customer perception of bank ATM services in Nigeria.Sustainable Human Development Review,1(1).