We all know that in today’s digital world; the banking sector has become more developed and there are numerous transactions which are done with the banks by the people on the regular basis. So it is important that the security in the banking regions must be improved as it is the urgent need for today. With the occurrence of the ATM though the banking, the possibility of being misused has become a lot easier as well as vulnerable.
Because of the exponential growth of the intelligent criminals day by day, the chances of the misuse of this much used and insecure baby product have been increased. The use of the ATM systems is not more than the access card or PIN generation for identity verification for today. This situation is unfortunate as many kinds of tremendous progress have been done such as bio metric identification techniques which also include finger printing, retina scanning as well as facial recognition.
There is also a development of the system which integrates facial recognition technology into the identity verification process which is used in ATMs. In order to protect consumers and financial institutions alike from fraud as well as other breaches of securities, the development of such system has been done. Because of the rise of the technologies in India, there are many types of instruments, which are mainly focused on more customer satisfaction.
ATM is such kind of a machine through which money transaction has become easy for customers to bank. The other main reason behind this improvement is the enhancement of the criminal’s probability in order to get his unauthentic share.
Traditionally, the security is being handled by the requirement of a combination of the physical access card and a PIN or other kinds of passwords for the purpose of accessing the customer’s account. But with ATM with an eye, an automatic teller machine security code has been proposed that would combine a physical access card and PIN and electronic facial recognition.
When we force the ATM in order to match the live image of the customer’s face with an image which is stored in the bank database as well as associated with the account number, then damage which can be caused by the stolen cards and PINs is effectively neutralized. It can be done only if the PIN matches the account and the live image as well as stored with image match would a user is considered fully verified.
This process would not require a great deal of time and hence it would effectively become an exercise in pattern matching. In terms of the bank employees who are gaining access to the customer’s PINs for the purpose of using in fraudulent transactions, this system would definitely decrease that threat in order to expose to the low limit which is imposed by the bank and agreed to by the customers on visually unverifiable transaction.