Banking and it’s Technology

  This method makes the cashier’s work simple and transactions like deposits and withdrawals can be done with speed, and efficiency without any error whatsoever. This method automates the deposits and withdrawals that are done by cashiers in banks or Institutions that handle cash. Introduction It is a common practice in rural Banks, where people don’t use ATMs to Deposit or Withdraw money. Also not everyone has adopted digital transactions still. So, anyway people go to Banks and wait for their turns. So, it is necessary to automate the Withdrawal and Deposit process, to avoid fraud, and to provide easy transactions. We are going to use two methods for Deposit Automation. The first is with the help of Kiosks, installed on Bank premises. Second, takes advantage of a Mobile Banking App, which is hugely beneficial for hassle-free transactions. We will also discuss withdrawal with the help of kiosks. In all the above methods, cash is handled only by the Cashier. Deposit with Kiosks Let...

I would like to propose a new method of depositing money in banks, simply using currency notes, with the help of a Mobile Banking App. This is a new system never before used in any bank. It will help customers to deposit amounts from Rs. 100 to Rs.10,000 per day. The system works with the help of Currency Notes Numbers. A customer can deposit up to 5 Currency Notes per day. Deposit with Currency Notes First, the Customer needs a Mobile Banking App on his Mobile phone. All the details of the Customer’s Bank Account will be in the App. The Customer needs to use the App to take pictures of the Currency Notes, She wants to deposit. The App scans the Currency Note Number and asks for confirmation from the Customer. After confirmation, the details of the Currency Note, along with the Customer’s details will be sent to the Bank's Central Database. After this, the Customer should go to the bank and simply deposit the Currency Note(s) in a specially designed Currency Collector Machine. When...

This is a software that comes in handy for cashiers to determine the denominations of different notes of cash, which need to be given to the customer during withdrawal from customer in a cash counter. It is an assisting software, that makes the work of the cashier easy and error-free, at the same time decreasing the transaction time of the process. Using Bar Chart Software to make Cashier’s job simple It is common practice in banks, to appoint cashiers, who dole out cash, using currency notes of different denominations. Usually, it is difficult to find Currency Notes, which totals to exact Amount, the customer demands. I am proposing a method to make cashier’s job, quite easy using a Bar Chart Software. Existing method Let us first get into the existing method, banks are using. For every transaction, cashier has to put denominations of each note in the existing Software, to total up to the Amount, the customer demands. For example, If the Customer needs INR 25,500, Cashier has to find ...