Banking Transactions Made Easier with ATM Machine

Author: reikopena | Posted: 15.03.2012

Standing in a queue or waiting for your turn to draw cash from bank seems troublesome. Much of the valuable time is wasted while doing so but with the advance of technology and telecommunications the atm machine or Automated Teller Machine has proved to be a revolutionary device in handling finances and providing the clients with instant cash anywhere and at any moment of time. Clients can access their bank account, take a printout of recent transactions, can carry out cash advances as well as can avail many other benefits including recharging or refilling their prepaid cell phone credit.

The software of this special machine typically worked on the RMX or OS/2 previously but today majority of them use the MS Windows OS primarily Windows XP, Professional or Embedded. But providing a standardized software base to all ATM machine was the prime objective of all financial institutions and hence XFS provides a common API for accessing and manipulating various devices of an ATM which is acceptable by major financial institutions. With the advent of Windows OS and XFS on ATMs, the software applications have the ability to become more intelligent. This has led to the creation of an altogether new type of ATM application which allows a user to carry out many other important financial transactions besides simply withdrawing cash.

Security is an important aspect to atm machine. The security of ATM transactions depends mostly on the integrity of the secure crypto processor. Most ATMs uses general commodity components which may not be considered to be trusted systems. Fraud can be prevented by encryption of personal data and information. Financial sensitive data required for ATM transactions are usually encrypted with DES but nowadays transaction processors usually involves the use of triple DES..

In the past there had been several thefts and frauds carried out on these machines and hence proper security and safety must be adhered while using this machine. No doubt, this machine proves to be useful and handy saving the valuable time for performing various monetary transactions but at the same time, they can create a lot of trouble if used carelessly.

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