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Designing and Implementing a Transacting System or an ATM Machine

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Description

– Designing and Implementing a Transacting System or an ATM Machine –

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Abstract

This project is aimed at designing and implementing a transacting system or an ATM machine for Eco Bank Plc, Obosi Onicha.

Especially, this study covered the activities of financial institutions in mobilizing cash payments and given the larger part of it to customers who wish to do their cash transactions electronically in Eco bank Obosi Onitsha.

In a bid to successfully carry out a transaction receipt generating system for an ATM  machine with a view of finding out its shortcomings, this attempt enabled the researcher to design and implement a transaction receipt generating system for cash transactions that would, if well-implemented help to uplift the financial operations of Eco bank Plc Obosi Onitsha.

Introduction

The computerization of the banking/financial sector of the economy has really helped eliminate the manual operation of the sector including the innovation of paperless.

Following this, is the introduction of development of the ATM (Automated teller Machine) which had the most laudabe effect in the sector. However, the ATM has really terminated most of the stressful work in the banking sector like queing to check account balance, delay in cash withdrawing and transfer etc.

The ATM gained acceptance due to its Mechanism like dispensing Mechanism (to provide cash on often items of value), deposit mechanism including cheques processing module and batch not acceptor (to allow the customer to make deposits), security sensor and locks (to ensure controlled access to the contents of the vault).

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