Selasa, 02 Desember 2014
I. Banking Application
The use of computer technology has revolutionised how we do our banking transactions, for example:
- Internet Banking
- Automated Teller Machines (ATM)
- Chip and Pin Technoogy
A. Internet Banking
It is now very common for bank customers to access their bank account from home using on-line banking services.
Customers use a computer and connect to the bank’s secure (encrypted) website where they login (usually with a username and a password)
Customers can use the on-line banking system to...
- Check the balance of bank accounts
- Pay bills
- Transfer money between accounts (using EFT)
- Apply for loans, or other services
Compared to traveling to your actual bank, Internet banking has a fewadvantages...
- More convenient - can be used 24 hours a day, 7 days a week
- Saves time and money since you don't have to travel anywhere to use it
- Data can be downloaded and analysed (e.g. in a spreadsheet) which can help with planning budgets
But there are some disadvantages too...
- Requires you to have a computer and Internet access to use it
- Some people prefer to speak to a person (personal service)
- If your account is hacked, or your username / password is stolen (e.g. if your computer has malware) money could be stolen from your account
B. Automated Teller Machines (ATM)
ATMs can be used to for a range of banking services...
- Withdrawing cash
- Depositing money
- Checking the balance of accounts
- Transferring money between accounts
- Paying bills
ATMs can be used by customers of other banks as the ATM can useEFT...
If a customer of Bank A uses her debit card to withdraw cash from an ATM belonging to Bank B:
- Bank B gives her the cash
- Bank B now is owed money by Bank A
- Bank B sends an EFT instruction to Bank A asking for money to be transferred from the customer’s account to Bank B.
- Bank B has now been paid back
C. Chip and Pin Technology
Many credit cards are equipped with a chip as well as a magnetic stripe (see Figure 7.14) – this contains key information such as the PIN.
This system is designed to enhance security since it is better than relying only on a signature. When paying for items using a chip and PIN card, a form of electronic funds transfer (EFT) takes place.
In this example, a customer pays for a meal in a restaurant using a chip and PIN card:
1. The waiter inserts the card into the chip and PIN reader.
2.The restaurant’s bank contacts the customer’s bank.
3. The card is checked to see if it is valid (expiry date, whether stolen card, etc.).
4. If the card is stolen or expired then the transaction is terminated.
5.The customer enters the PIN using a keypad. q The PIN is read from the chip on the card and is compared to the one just keyed in.
If they are the same, then the transaction can proceed.
If they are different, the transaction is terminated.
6. A check is then made on whether they have enough funds. q If there are not enough funds available, then the transaction is terminated.
Otherwise, the transaction is authorised.
7. An authorisation code is sent to the restaurant.
8. The price of the meal is deducted from the customer’s account.
9. 1The same amount of money is credited to the restaurant’s bank account.
10. A receipt is produced as proof of purchase.
Source: Banking Systems
II. Library System
