Automated Banking Machine Transaction Processing and Verification

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Solution Overview

Problem

Automated banking machines lack efficient mechanisms for processing and verifying financial transactions, particularly for deposits and check cashing, which are prone to errors and require manual intervention, leading to inefficiencies and reliability issues.

Innovation Solution

An automated banking machine equipped with a processor that communicates with remote computers to authenticate and process financial transactions, including image capture and analysis of negotiable instruments, enabling remote credit and data transmission for transaction authorization and record-keeping.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Productivity

If automated banking machines process financial transactions manually, then operational flexibility is maintained, but transaction processing speed and reliability deteriorate

Engineering Contradiction:

Improvetransaction processing speedVSAvoidautomation system complexity

Core Design Contradiction:

ProductivityVSDevice complexity

Solution Approach 1:

The automated banking machine is divided into distinct functional modules: card reader for data extraction, processor for transaction authorization, imaging device for document capture, and printer for record generation. Each module performs a specific function, enabling streamlined transaction processing while maintaining system manageability through functional segmentation.

Inventive Principle:

Principle #1Segmentation

Solution Approach 2:

The system enables customers to independently complete banking transactions through automated card reading, authentication, and transaction processing. The machine autonomously verifies card data against stored records, authorizes transactions, and generates receipts without requiring manual bank employee intervention, thereby increasing processing speed and reliability.

Inventive Principle:

Principle #25Self-service

2Speed

If automated banking machines use card readers to extract data, then transaction authorization speed improves, but data accuracy and verification reliability may deteriorate

Engineering Contradiction:

Improveauthentication speedVSAvoiddata verification reliability

Core Design Contradiction:

SpeedVSReliability

Solution Approach 1:

The system incorporates a feedback mechanism where the processor compares card reader data against stored customer records and transaction authorization data. This verification loop ensures data accuracy by confirming that extracted card information matches authorized customer profiles before permitting transactions, thereby maintaining both speed and reliability.

Inventive Principle:

Principle #23Feedback

Solution Approach 2:

The system replaces manual data verification with automated electronic data processing. The processor electronically compares card reader output with stored records in memory, substituting human verification with automated digital validation that maintains high speed while ensuring data accuracy through systematic comparison protocols.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

3Adaptability or versatility

If automated banking machines include imaging devices for negotiable instruments, then deposit processing capability increases, but device complexity and cost increase

Engineering Contradiction:

Improvetransaction type capabilityVSAvoidmachine component complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The automated banking machine is designed as a multi-functional system that handles various transaction types including cash dispensing, deposits, check cashing, and account inquiries. The imaging device integrates with existing components to capture negotiable instrument data, enabling the same machine to perform multiple functions without requiring separate specialized equipment for each transaction type.

Inventive Principle:

Principle #6Universality (Multi-functionality)

Data Source

PatentUS10083426B2Automated banking machine that operates responsive to data bearing records

Publication Date: 2018.09.25 DIEBOLD NIXDORF INCORPORATED

AI summary

In an example embodiment, there is disclosed herein an automated banking machine that includes an instrument acceptor operable to receive financial instruments. The machine is operable to cause user data obtained from a user during a user session with the machine to be sent to a transaction authorizing host computer. The machine is operable to generate an electronic deposit slip that includes a data representative of a financial account associated with the user data, and a value of value of a financial instrument received by the instrument acceptor during the user session. The electronic deposit slip to be sent to a server that is remotely located from the automated banking machine and data representative of the value of the financial instrument is sent to the authorizing host terminal to cause the financial account to be credited an amount corresponding to the value of the financial instrument.