Smart ATM Money Withdraw Using Smart phone Application

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Name of Innovation: Smart ATM Money Withdraw Using Smart phone Application:

Name of Innovation: Smart ATM Money Withdraw Using Smart phone Application Team/ Individual Name: Innovators Members of the Team: Piyush Kukadiya Name of College and City: Mumbai Course of specialization: Information Technology Year/ Batch: final/2010-2014 College ID: 3204 Name of the Professor/ Placement officer involved in this project: None

stage of Innovation :Prototype :

stage of Innovation :Prototype Prototype : Bank Database 1.Request money 2.Receive Unique 10 digit No Changes after 180 seconds 3.Enter 10 digit PIN 4.Verify 10 digit PIN 5.Receive money

The Innovation:

The Innovation Summary of the innovation needs to cover the following titles: Chosen industry : 1) Public Services Chosen technologies: Mobility, Social Media and Analytics Objective: To provide same user interface in mobile application which ATM machine provides for transaction. To Withdraw Money From ATM Machines Using Smart phone Application, Without carrying ATM Cards. To reduce the cases of frauds when user lost their ATM cards. To help user in EMERGENCY cases, when they have left their wallet at home. Approach : Using a freeware and interactive smart phone application. Maximum Points: 10

The Innovation:

The Innovation Description: Smart ATM Money Withdraw application is another step forward for mobile payment technology, users will be able to request money using their iPhone , iPad , Android and Blackberry smartphones . System consists of an existing network of ATM machine and bank databases,to which smart phone application can connect for requesting and receiving money. It also ensures Security by implementing Tripple DES encryption technique and use of a 10 digit PIN that changes after every 180 seconds . It also implements Application locking feature so that no one can access application without user permission. User first request money by submitting account details. Once User is varified ,then user have to enter 4 digit PIN which is a secret code for personal ATM transaction. After this Bank generates random 10 digit PIN which is saved to database for varification while doing ATM transaction. It is then send to user. If user do not use it within 180 seconds then it changes and user have to request new one else user can enter it to ATM machine and receive money. If user types wrong PIN no,both 4 as well as 10 digit more than 3 times then it blocks.then user have to request new one. Maximum Points: 10

Compelling need for the innovation:

Compelling need for the innovation Nowadays there is a great increase in use of smart phone applications for Mobile Banking.  If your child needs lunch money you can't just hand them the ATM card. You have to drive to the nearest ATM machine to access a few dollars to send to school with your child.This problem is solved by Smart ATM Money Withdraw Application. Need of protection against fraudulent use. Need of money in emergency cases. It can be added as a new feature in Mobile Banking Applications. Maximum Points: 20

Impact:

Impact Impact:  This Technology uses smart phone applications based on Android,iOS,Blackberry OS for interaction with user and easily integrates with existing ATM and Bank database network. Application will be free to use with high security. How idea will sustain over: Currently no such innovation is implemented anywhere specially in developing countries.So this will be the first. Maximum Points: 30

Implementation:

Implementation Maximum Points: 50 Bank Database 1.Request money 2.Receive Unique 10 digit No Changes after 180 seconds 3.Enter 10 digit PIN 4.Verify 10 digit PIN 5.Receive money

Implementation:

Implementation Phase 1: In this phase Smart phone apllication development proceeds by using corresponding os libraries. After development of application it is tested. Phase 2: In this phase Bank database is developed and maintained using My SQL or Oracle database. Connectivity between database and Smart phone application is done using concept of M-V-C Model supported by Mobile os . Once again testing is done for connectivity between database and application. Random 10 digit PIN generator application is connected with database using java. Phase 3: In this phase a small application software is developed for ATM Machine so that user can ineract with it for Money withdraw. This application ineracts with bank database through host processor. Final phase: In the end whole implementation is tested for high security requirements and ease of use. Maximum Points: 50

The Competitive Advantage:

The Competitive Advantage Reduces Costs related to ATM cards.Hence it helps to Bank,ATM card manufacturer as well as to user who actually uses card. reduce the cases of frauds when user lost their ATM cards helps user in EMERGENCY cases, when they have left their wallet at home. Help people who need a quick way to send money across to their relatives,friends and children immediately. Request money from one city or state and receive the same from other city or state.Hence its like a MONEY TRANSFER THROUGH AIRWAYS. It helps to environment by eliminating use of plastic cards. Similar Application can be developed on internet Websites. It increases Security of ATM transaction. No long waiting queues for ATM Machine.Since money is requested from application. Maximum Points: 30

References::

References: Sources of guidance received to develop the innovation to be mentioned. [1] money.howstuff works .com [2] www.pg.gda.pl/~mickowal/IE/bankomaty_eng.pdf‎ [3] www. atm gurus.com/.../Understanding%20the%20 ATM %20business.pdf‎ [4] developer. android .com/guide/tutorials pursuing a patent for innovation? Not Now, but once this idea is developed and tested then ofcourse yes . Maximum Points: 30

Thank You:

Thank You

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