Cardless ATM Denomination Selection via Mobile Authentication
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Solution Overview
Problem
Legacy banking systems do not allow account holders to pre-stage denomination requests for cash withdrawals at ATMs, lacking real-time denomination tracking and selection capabilities, which complicates the withdrawal process and requires physical card and PIN usage.
Innovation Solution
A cardless ATM system that enables account holders to pre-stage transactions via a mobile application, allowing denomination selection and authentication through QR code scanning, without the need for a physical card or PIN, by using mobile device interactions with secure interfaces, micro-service repositories, and ATM middleware to track and manage available denominations across multiple ATMs.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If legacy banking systems are used for ATM withdrawals, then physical card and PIN authentication is required, but the withdrawal process becomes more complex and time-consuming
Solution Approach 1:
The patent extracts the authentication mechanism from physical card and PIN verification to a mobile device-based system. The mobile application stores account credentials and generates authentication tokens, eliminating the need for physical card insertion and PIN entry at the ATM. This extraction simplifies the user interaction while maintaining security through mobile device authentication.
Solution Approach 2:
The mobile application serves as an intermediary between the banking system and the ATM. It pre-stages withdrawal transactions by communicating with the banking server, which then instructs the ATM to prepare the requested denominations. This intermediary role streamlines the withdrawal process by preparing transactions beforehand and eliminating manual authentication steps at the ATM.
2Adaptability or versatility
If legacy systems are used, then denomination selection is not available, but the system lacks real-time denomination tracking capability
Solution Approach 1:
The system implements feedback loops where the mobile application queries the banking server for real-time denomination availability at selected ATMs. The server responds with current inventory data, allowing the user to see which denominations are available before initiating a withdrawal. This feedback mechanism enables informed denomination selection while maintaining accurate real-time tracking of ATM inventory.
Solution Approach 2:
The system performs preliminary actions by pre-staging withdrawal transactions through the mobile application before the user visits the ATM. The banking server processes these requests in advance, checking denomination availability and preparing the requested bills. This preliminary action ensures that when the user arrives at the ATM, the transaction is already authorized and the denominations are ready for dispensing.
3Reliability
If cardless ATM system is implemented, then security is enhanced by eliminating card and PIN usage, but the system requires mobile device authentication infrastructure
Solution Approach 1:
The system creates a digital copy of the authentication process in the mobile application. Instead of relying on physical cards and PINs, the mobile app stores encrypted account credentials and generates digital authentication tokens. This copying of authentication functionality to the mobile device eliminates physical security vulnerabilities while maintaining equivalent security levels through cryptographic methods.
Data Source
AI summary
Disclosed herein are system, method, and computer program product embodiments for providing denomination selection capabilities to account holders withdrawing funds via a cardless ATM system. An account holder may queue an ATM withdrawal in desired monetary denominations from a mobile application running on their mobile device. The account holder may subsequently scan a QR code displayed at an ATM using the mobile application and receive the desired monetary denominations from the ATM, all without using an ATM card. Two other approaches are provided to an account holder when queueing an ATM withdrawal that includes denominations. In a denomination-driven request, the account holder selects denominations first and then receives a list of proximate ATMs that can satisfy the denomination request. In a location-driven request, the account holder selects an ATM first and then can tailor the denomination request to the denominations available in the selected ATM.