Enhancing automated teller machine security through biometric -based bank verification number: a case study of Nigerian banking system

Abstract

Nowadays, majority of people use Automated Teller Machine (ATM) which allows them to perform financial transactions like withdrawal and deposit of cash. The current Nigerian ATM system is based on Personal Identification Number (PIN)..This does not provide enough security for transactions as the PIN can be stolen and used by a fraudster. Hence, there is need for a multi-modal biometric-based security system for the ATM Machine The current biometric-based Bank Verification Number (BVN) contains the biometric data of all Nigerian banking system customers. The BVN uniquely identify each customer and connect the customer to all her or his bank accounts. This study is based on design ofBVN-based fingerprint and facial recognition security system to verify and authenticate customers at ATM site. This consolidate the ATM cards of a customer in different bank into a single BVN smartcard . There is need for complete overhaul of the current ATM system to achieve this objective. The proposed ATM system will discourage fraudulent transactions as it is totally based on customer' biometric verification and authentication.