Collin’s ATM System Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Collins ATM System . Answer: System Vision Document: Business Requirements The major business requirement is the construction of an ATM system is to design software that would enable the machine to carry out various activities such as reading the ATM card of the user (Ramadan et al., 2017). Hardwares such as keyboard and monitor is also required to enable the machine to interact with the system. Other hardware requirements include a slot in the machine for delivering cash, a receipt printer, uninterrupted internet service that would always maintain the updated information system with the bank (Bahill Madni, 2017). Moreover, PIN verification is the essential requirement, then after the authorization of the user is also essential. Moreover, maintenance of the system is an essential requirement. The Collins ATM was required by the bank so that they could easily provide various transaction facilities to the customers. It serves the users such that they can easily withdraw and deposit money in the bank after the verification of the card by the bank and the pin verification. The Collins ATM system is a necessity for the customers as each time they have to either withdraw or deposit cash they have to visit the bank. This creates a huge crowd and it becomes very difficult for the bank officials to carry out work. The introduction of the ATM system helps the users to keep a check on the bank account transactions. Moreover, the customers face a lot of problems in getting the prior history of the transaction (Bahill Madni, 2017). With the introduction of the Collins ATM system would provide hassle free transaction information to the users. The users can easily obtain the report of the transactions through the ATM. It also helps the users to withdraw money from the bank without visiting the bank during any time. System capabilities Transaction is possible with all the banks available. Deposition of money can take place at any time Gathering information about the account balance does not incorporate hassle. The history of the previous transactions can also be gathered (Islam Muzemder, 2015). Minimal transaction fees. Regularly updating the transaction report to the bank. The facility is simple and easy to understand. Fast card and PIN verification Business benefits The objectives of the construction of the Collins ATM are described as follows: Gaining increased number of customers. To provide the customers hassle free money withdrawal facility to the customers. To enhance the bank account security of the customers. To digitalize the banking activities. To provide the customers easy transaction information. Incorporation of Information Technology into the banking sector. The long term goal of the Collins ATM system is to develop software that provides the ease to the customers regarding the bank transactions. It basically aims at providing hassle free transaction facility to the users. The development of highly secured software such as an encrypted version would also help to mitigate the security risk that the bank sectors commonly face. The major purpose of the ATM system is to update the existing software such that it maintains the security of the transaction implemented by the users (Batuwangala et al., 2017). Most of the ATMs incorporate transactional charges such as the printing of receipt requires minimal amount of charge, this issue is to be mitigated by the Collins ATM. The scope of the ATM is to provide strong security measure in the transactions via Collins ATM. The further scope is to increase the limit of transaction in a particular day by a particular user and moreover, the transaction charges on the printing of the receipt should be removed. Moreover, the Collins ATM is also working on extending the ATM services into mobile and web based applications as it will provide easy access to the services of the Collins banking services (Kulkarni, Madki Mapari, 2016). The incorporation of more advanced security system such as thumb and face recognition system would also increase the security of the user account and credentials (Soares Gaikwad, 2016). The Collins ATM system includes various limitations in which the security limitation is the major issue. The Collins ATM system is involved in incorporating the more advanced encryption based security system such that the risks of data leakage would come to stop. There is a limitation on the number of transactions per day that should be increased. Moreover there is also a limitation on the maximum amount that can be withdrawn at one particular time. Resources required The various resources required are mentioned below: Location for setting the ATM Infrastructure Administrative team Bank report supplier team Internet operator Software maintenance team Policy makers Hardware designer team. Requirement file generation team Stakeholders Map The various stakeholders involved with the Collins ATM are the employees in the ATM, the customers that use the ATM, and the bank with whom the ATM would have a contract and the users can withdraw money from one ATM featuring many banks (Nrman et al., 2014). Risk involved in the Collins ATM The major risk in the Collins ATM system is the failure of the ATM system. The other risks include the shortage of cash in the ATM as well as the security risk such as data breaches of the users (Curtin et al., 2017). The major risk associated with the ATM is the bank account getting hacked. The method involves the usage of fake cards built using the datas, such as bank account information collected from cameras and other tiny devices that are termed as skimmers. Other fraudster activities would include the placing of a plastic film in the card slot such that the card is not expelled by the machine, and the attacker pretending as a genuine card holder suggests the victim to re-enter the pin and thus, notices it. When the card holder leaves, the fraudster retraces the password and withdraws the money. Other risks involved in the business is the loss of server connection, this would lead to the loss of customer and decrement in the business. Moreover, the security breaches are consider ed as the greatest risk involved in the ATM business. Moreover, there may be cases when the bank would not agree to invest in Collins ATM. References Bahill, A. T., Madni, A. M. (2017). Discovering system requirements. InTradeoff Decisions in System Design(pp. 373-457). Springer, Cham. Bahill, A. T., Madni, A. M. (2017). Discovering system requirements. InTradeoff Decisions in System Design(pp. 373-457). Springer, Cham. Batuwangala, E., Ramasamy, S., Bogoda, L., Sabatini, R. (2017). Safety and security considerations in the certification of next generation avionics and air traffic management systems. In17th Australian International Aerospace Congress: AIAC 2017(p. 440). Engineers Australia, Royal Aeronautical Society. Curtin, J. L., Grace, K., Glantz, L., Heenan, P., Holsclaw, B. R., Horner, J., Brittany, Y. O. R. K. (2017).U.S. Patent Application No. 15/607,961. Dixon, D. A. (2017).U.S. Patent No. 9,836,792. Washington, DC: U.S. Patent and Trademark Office. Islam, S., Muzemder, A. S. H. (2015). An Overview on LNG Business and Future Prospect in Bangladesh.Science,3(5), 40-45. Kulkarni, R., Madki, M., Mapari, T. (2016). CARD-LESS ATM SYSTEM.International Education and Research Journal,2(4). Nrman, P., Franke, U., Knig, J., Buschle, M., Ekstedt, M. (2014). Enterprise architecture availability analysis using fault trees and stakeholder interviews.Enterprise Information Systems,8(1), 1-25. Ramadan, Q., Salnitriy, M., Strber, D., Jrjens, J., Giorgini, P. (2017, September). From Secure Business Process Modeling to Design-Level Security Verification. InModel Driven Engineering Languages and Systems (MODELS), 2017 ACM/IEEE 20th International Conference on(pp. 123-133). IEEE. Soares, J., Gaikwad, A. N. (2016, April). A self banking biometric machine with fake detection applied to fingerprint and iris along with GSM technology for OTP. InCommunication and Signal Processing (ICCSP), 2016 International Conference on(pp. 0508-0512). IEE