Automatic Demand Draft Generation Technique in ATM using IoT

Abstract

The main aim of this model is to reduce the inconvenience faced by clients and financial institutions for generating a demand draft that will be accepted by any financial institution. Generation of a demand draft is usually a very cumbersome process for both the parties, i.e , the bank and the customer. The customer has to stand and wait in long queues at the bank and the bank can only process the requests placed after closing time on the next day. The proposed model will allow the customer to generate the demand draft at any time and even on bank holidays without any hassle. It is an effective procedure to reduce the time and energy spent in generation of demand draft by the banks. The proposed model gives strength to anywhere banking. The account number of the customer is mandatory for the proposed system. The ATM prints the demand draft in form of a slip from the ATM terminal with a barcode on the slip to identify the transaction by the financial institution and assist during the cancellation.