27-03-2012, 02:45 PM
HISTORY AND INVENTION OF ATM
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HISTORY
A mechanical cash dispenser was developed and built by Luther George Simjian and installed in 1939 in New York City by the City Bank of New York.
Thereafter, the history of ATMs paused for over 25 years due to lack of customers, until De La Rue developed the first electronic ATM, which was installed first in Enfield Town in North London on 27June 1967 by Barclays Bank.
The idea of a PIN stored on the card was developed by the British engineer John Rose in 1965.
The idea of self-service in retail banking leads to the development of an ATM machine
The simultaneous efforts in Japan , Sweden , U.k.been credited in developing the first cash dispenser machine
The first ATM called Bankograph was installed in Barkleys bank in north London U.K.on 27th june 1967
Where do ATMs are placed
ATMs are not only placed in banks but also in the airports , grocery shops , petrol stations , restaurants Or any place where large number of people gather
There are two types of locations for the ATMs
locations of ATMS
1)ON PREMISIS->machines that accomplishes the actual bank branch and are more advanced and multi functioning and having a large capability of storing data and are very costly
2)OFF PREMISIS->machines that are developed by financial institutions where there is usually a straight need of cash and are cheaper and mono functioning
ATMs are placed not only near or inside the premises of banks, but also in locations such as shopping centers/malls, airports, grocery stores, petrol/gas stations, restaurants, or any place large numbers of people may gather.
ATM ARCHITECTURE
Virtual Paths and Virtual Channels
Transmission Path
Virtual Path
Virtual Channel
Switching Hierarchy
Switching at the Transmission Path Level
Switching at the Virtual Path & Virtual Channel Level
ADVAVANTAGE OF ATM
ATM supports voice, video and data allowing multimedia and mixed services over a single network.
ATM provides 24 hours money transaction service.
High speed Mbps and possibly Gbps.
From anywhere withdraw and diposit money.
High speed transaction.
Secure transaction.
CONCLUSION
ATM is one of the gift from inventor to humanity .