A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank is the connection between customers that have capital deficits and customers with capital surpluses. Due to their influence within a financial system and an economy, banks are generally highly regulated in most countries. Most banks operate under a system known as fractional reserve banking where they hold only a small reserve of the funds deposited and lend out the rest for profit. They are generally subject to minimum capital requirements which are based on an international set of capital standards, known as the Basel Accords.
The oldest bank still in existence is Monte deiPaschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472. It is followed by
Berenberg Bank of Hamburg (1590) and SverigesRiksbank of Sweden (1668). Banking in its modern sense evolved in rich cities of Renaissance Italy, such as Florence, Venice and Genoa. In the history of banking, a number of banking dynasties ²among them notably Medici, Fugger, Welser, Berenberg, Baring and Rothschild ²have played a central role over many centuries. TheHistory of Banking begins with the first prototype banks of merchants in the ancient world, which made grain loans to farmers and traders who carried goods between cities. This began around 2000 BC in Assyria and Babylonia. Later, in ancient Greece and during the Roman Empire, lenders based in temples made loans and added two important innovations: they accepted deposits and changed money. Archaeology from this period in ancient China and India also shows evidence of money lending activity.
Banking, in the modern sense of the word, can be traced to medieval and early Renaissance Italy, to the rich cities in the north such as Florence, Venice and Genoa. The Bardi and Peruzzi families dominated banking in 14th century Florence, establishing branches in many other parts of Europe. Perhaps the most famous Italian bank was the Medici bank, established by Giovanni Medici in 1397.
The development of banking spread from northern Italy through Europe and a number of important innovations took place in Amsterdam during the Dutch Republic in the 16th century and in London in the 17th century. During the 20th century, developments in telecommunications and computing caused major changes to bank’s operations and let banks dramatically increase in size and
geographic spread. The financial crisis of 2007 2±008 caused many bank
failures, including some of the world’s largest banks, and provoked much debate about bank regulation.
To ensure strong security authentication of customers account on ATM Transaction by means of fingerprint biometrics.
To eradicate any form unauthorized users identity entrance to a particular owners account having stolen the ATMcard and password
To reduces the crime of electronic money theft
To demonstrate the possibility of computer technology in the satisfaction of human needs and also enforce strict security measures that ensure only bank account owners with their ATM cards can gain access to their account information with their fingerprint template identity.
Over the years ATM machine has operated normally using the pin/password method this brought about decline in integrity of the banking data because once the ATM card is stolen and password/pin known unauthorized users can gain access to the account and withdraw any amount before alarm is sent to customer service for pin block due to stolen ATM. Extent of the damage caused by this insecurity in the ATM data is becoming alarming and if the security issues are not properly tackled then the standard of banking will fall bringing about loss of customers because customer would always want to place strong security measure in any sector of their investment. The effect of using pin/password include
Password could easily be forgotten or stolen and when stolen the ATM can easily be accessed by unauthorized persons.
This method of security has proven to be inefficient over the years as series of complaints about stolen money through the ATM is being record till date. As a result of this deficiency incurred by the previous method this project focus on FINGERPRINT AUTHENTICATION FOR ATM MACHINE
To add more security measure to the existing security attributes of the ATM machine
To allow only owners of the specific account gain access to its database to retrieve information about his/her bank details
To eradicate any form of ATM bank electronic theft
This system would be simulated using C#, sdk, and Microsoft access database and also all necessary method of data collection within my reach to ensure the system meet up to acceptable standard has been put into consideration. Also tables and graphs for easily analysis and demonstration of development trend of achievement would also be shown. Also this work would be carried out under close supervision for adequate guidance and interpretation of the work as it unfolds.
ATM: Automated Teller Machine
BANK: A place where money and other valuables are kept
PIN: Personal Identification Number
AUTHENTICATION: Granting access on recognition of who you are FINGERPRINT: The minutia point in the finger that is used to recognize a particular individual.
BIOMETRICS: The finger print, a technology that tries to use specific feature of an individual to serve as an identity
DATABASE: A collection of related information which can be stored and retrieved.
SECURITY: A measure that helps prevent theft or unauthorized users
IMAGE ENLARGEMENT: Something that has been enlarged, especially a photographic reproduction or a copy larger than the original print or negative.
FINGERPRINT TEMPLATE: An impression on a surface of the curves formed by the ridges on a fingertip, especially such an impression made in ink and used as a means of identification.
TOKEN: May be a physical device that an authorized user of computer services is given to ease authentication. Example,ATM Card.