Idea Details

Team and Contact Details

SNo Student Name School Degree Year Email
1Fahad IkramCEMEUndergraduateFourthfahadikram046@gmail.com
2Atta Ur RehmanCEMEUndergraduateFourth92AttaUrRehman@gmail.com

Inter School Idea ? Yes
Do you need expertises from another area: Yes
If Yes please provide details of expertises you need: Banking

Idea Details

Idea Name: SmartBanking
Slogan: Redefining Systems
Startup Domain: Inclusive Economic Growth FinTech
Abstract:
    On daily basis, a cashier has to perform tasks like billing, cash deposit, vouchers, online transactions, withdrawal and end of the day transaction summary. The aim is to Automate this system.
What is the unmet need in society that your idea will fulfill ?
    Our idea automates the job of a teller which provides solution to time wastage and removes various errors such as cheque fraud, fake currency etc.
Who needs it ? How many would benefit ?
   Modern banking systems are seeking for the applications of technology in their system. This idea attracts all such banks.
How will the solution works
    A machine that will accept cheques, utility bills, fee vouchers from the user, verify the input, ask the user to deposit cash or withdraw (in case of cash withdrawal), complete the processing (updating data in database) and provide receipt to the user. The machine will also mantain a database to provide summary of all transactions.
Who are your competitors ? How is your solution different
    There are no competitors.
Status: Approved
Entry Date & Time: 2017-11-23 (1615)