A Framework for Verifying the Authenticity of Banknote on the Automated Teller Machine (ATM) Using Possibilistic C-Means Algorithm

Abstract

Abstract-With the introduction of cash-less society policy by the Central Bank of Nigeria, the Nigerian Banking sector over the years has been experiencing significant changes and development in its Information and Communication Technology (ICT). The degree at which bank customers are embracing e-banking services especially Automated Teller Machine (ATM) is increasing exponentially, which have helped in decongesting the banking halls. One worrisome issue associated with this development is that some ATMs are dispensing fake notes especially the higher denominations. This research proposes a framework that will assist in verifying the authenticity of the banknotes on the ATMs using segmentation of the extracted features from banknotes with Possibilistic c-means algorithm. Images of the banknotes will be acquired using a scanner or camera and the acquired image which will be in RGB will be converted to grayscale. The banknote will be denoised after which edge detection operation will be performed. Image segmentation operation will be performed through the PCM which will identity the features of the study banknote that are to be compared with those of the original pre-stored picture in the system. Marches in the banknotes features determine its genuinty.