EXPLOITING GENETIC ALGORITHM IN STRING CASH DISPENSE DISPUTE

The cash transaction dispense dispute seems to be an ugly daily experience to bank customers. Most times the customers’ debited funds would not be auto reversed within the 24 hours given by inter-switch. At this point, customers have to report officially to their banks to get the problem sorted out manually by filling the dispute form. In some cases, after filling the form, they have to wait for at least seven business working days before the un-dispensed debited funds are reversed. This might be very excruciating on the customer, especially when un-dispensed cash is the only money on him/her. In this paper, our core interest is to solve the problem of delay in reversing debited funds using a genetic algorithm approach based on numerical integration. The result of the new system revealed how dispensed disputes are resolved within seconds without delay using the optimal fitness function values of the genetic algorithm that validates the customers’ claims and makes refunds. The system is independent of inter-switch and its flexibility allows customers to report their dispensed dispute online, especially when it is not reversed within allotted seconds. The research paper data set and the results were tested and analyzed using MATLAB software application

ADOPTING GENETIC ALGORITHM AS A SMART OPTION IN DEVELOPING AN INTELLIGENT DATA LOGGER FOR SETTLING CASH DISPENSE ALTERCATION

The customers of Nigerian banks are regularly faced with the issue of delay in reversing debited funds when dispense errors occur.  These customers in some cases wait for days, weeks and months to get their reversal and sometimes they are never reversed.  24 hours auto reverse of debited funds only occurs in one out of hundreds of transactions made by customers which makes the existing system unreliable and inefficient. In order to improve the present system and get rid of the manual method of filling out the dispense dispute form at the banking hall, an intelligent data logger for resolving cash dispense disputes in banking industry using a Genetic Algorithm (GA) was developed. The data for the system was collected through the application of questionnaires and personal interviews of bank staff and customers. The GA optimization methodology was applied for automating the reversing of debited funds with an online user interface that speedily resolves the issue of debited funds in microseconds. The automated platform developed was tested on a real-life application of cash transaction and optimized result achieved. The achieved results were validated using Genetic Algorithm’s fitness function on a MATLAB application while the dispense dispute e-form was developed and validated on the sublime text web application. The significant results obtained from the sampled banks indicated an optimized performance efficiency of 97% in resolving delay in reversing debited funds on dispense dispute