Potential improvements to:
- Method:
- How to make accounts for customers: Currently the way accounts are made is very strict, having to bring in identification and all your information, which could be fake. A solution however could be to use facial recognition as the main source of identifying whether or not someone is the account holder or not. This could mean just scanning your face to be mapped for the base of the recognition data and then have shops replace credit card scanners with face scanners.
- Labor: Their still needs to be some physical workers in bank offices for very specific problems or workers to fix machinery. However, their can be a lot more machinery that can be the ones that resolve the common problems and the ones that can create the accounts for the people, as they can just scan their face and scan an ID photo and make sure it doesn't match with anyone in their database and then their account is created. This could lessen the workforce needed to do the menial tasks in the bank office, creating a large profit.
- Systems:
- What data should be added to the database and what should be taken away:
- The use of facial recognition: This means having a mapped image of the users face stored into a database that can be used as reference for future transaction. This would mean you could remove card ID. You can keep pin number just as another safeguard for theft.
- Current location: This should be implemented not as a way to mail things to your address, but to have a realtime location access to know where the person is and if it is possible for the user to make a transaction. This can be done by having realtime location access from both an app on the smartphone and a chip in the credit/debit card. This would allow the user to lose one of their items and let the bank know that they have either lost one of the two items or its been stolen and then they could swiftly black the account until fixed.
- Equipment:
- Replacements for credit cards: A replacement for card readers would be face scanners (from idea up top). This eliminates the need for having a card and have more security, as it would be very difficult to have the same face as someone let alone known their pin number as well. With the combination of having a physical attribute needed to make a transaction just makes it safer. If by the off chance you undergo a physical change to your face you can easily go into a bank office and bring ID and sort it out.
- Replacements for card machines: Obviously cash wont go away for a long time, therefore their card machines are still going to be around, however they can be improved.
- The method with a face scanner can be implemented to allow for easy cash access while cardless if there are any shops that only accept cash.
- They could implement a booth-like area, made so people can't look while you enter your pin number. Just a little box area where you have curtains all around you.