Mining and Adaptivity in Automated Teller Machines

Abstract

Since the past few years, the banking sector has seen a considerable application of diverse technologies for its daily operations. The most significant of such technologies has been the introduction of Automated Teller Machines (ATMs). A typical ATM is shown in Figure 1. Initially, ATMs were used only for dispensing cash, but now offer round-the-clock services for a diverse number of operations, e.g., electronic transfer of funds, paying bills, viewing past transactions of bank accounts, changing the ATM sign-in credentials etc [9]. For using ATM services, the bank issues its customer an ATM card and a PIN code. The customer inserts the card into the ATM terminal, and enters the PIN code. If the bank authenticates the PIN code, then the customer can use the ATM services. The first ATM was installed in 1967 by Barclay’s Bank in the USA, and now there is hardly any bank in the world which operates without an ATM. Till March 2012, the current number of ATMs is estimated around