PowerPoint presentation Slides

The objective of our project is to evaluate the current banking system and make it more efficient as well as safer through IT. Our goal is to replace the cumbersome and unsafe method of using a card and id with fingerprint scanners. We want to decrease fraud statistics as well as create an easier and more efficient system for bank customers to use.

SCOPE

When a person accesses their bank account at the teller station or the ATM in the bank, they need a photo ID or a pin number as well as their credit card. This current method of withdrawing or changing account information causes a few security concerns. For example, someone could steal your ID and bank card and completely empty your account. The same thing can happen with your pin and bank card. Our group has found this old method insecure and inconvenient if you have forgotten or lost your ID card or PIN. A fingerprint scanning method would be a great way to solve this issue and help to ensure, that you and only you would be able to access your account. We believe the money that it will take to upgrade the system will be small in comparison to how much money the bank loses due to fraud. This system will significantly decrease the losses due to fraud and will actually save money. Our system will not only help with security and efficiency but it will also save money in the long run.

Business & IT Context

As a part of this project, we will be doing more research to determine the core problem that is generating this issue of inefficiency and ensure our solution is the best fit. In addition, to help ensure we have a valid IT system, we will be contacting other companies which are using fingerprint technology. We will study their system and their statistical improvement of this technology. This will help us to fully understand the new technology and foresee any new issues that could arise.

PLAN

Our plan for this project is to analyze the current banking system to ensure that our solution is not only a good fit but that it will also be a good solution to the problem we have identified. This will help us to ensure that the fingerprint technology is the best improvement for the old system. We will also be trying to figure out what potential risks we are taking with the new upgrade. We want to foresee any new problems. There’s no doubt that we must understand the effects of the problem and the potential solution prior to implementation. After we have analyzed the old system and the new, we can move forward and begin system development in order to get the best vision of its action.

RESEARCH

Research for our project will come from online research, research from banks, and interviews with tellers. We will first find out what it takes to implement fingerprint identification. We need to know the cost and maintenance of it. We will conduct this research by looking into other companies that use fingerprint technology for other things. Once we know that, we will be able compare the pros versus the cons. We will also compare the current system that banks use to see how this new system will affect them. Another great tool will be interviewing bank tellers, and asking them how convenient it would be to apply this to their systems. It is also important for us to look at different banks because many of them have different systems and operate differently. This will give us a firm understanding of how the system already works and how we will be changing it.

TIMELINE

Our project is going to take us about 10 weeks to be fully completed. We will take a couple of weeks to come up with articles that will be covering helpful information for our project. This will help us to know the pros and cons of the technology in the business environment.

Furthermore, we are going to give quick survey questions in different banks to get clear feedback about the current technology and the place where it is going to be used. Research will also be conducted on fingerprint scanners and the way they have affected other businesses. After getting the feedback, we will know how to go about implementing our new system.

Lastly, we will begin testing the technology and getting a firsthand view of the affects that it will have in the future. This will help us with our next step which will be to tweak our plan to ensure that it will run smoothly and fixing any unforeseen issues.

This is a brief idea about the completion timeline:

- 12 Feb. We will have a discussion about the requirements as well as assigning the tasks to the five of us.  - 19 Feb-19 Mar. - Research the subject and get relevant information.  - 2 Apr. Start putting the technology in use.  - 16 Apr. Fixing any flaws and make sure that we are ready to present. 

DELIVERABLES

· A written layout of how the new fingerprint system will work

· A full report and presentation which will thoroughly explain how the system will be implemented

· Report includes:

· Efficiency calculations and decrease in fraud predictions

· Survey results

· Pros and cons of new system

· An estimate of how much money it will take to implement this system

· An estimate of how much money will be saved in the long run