Faculty of Engineering and Technology, Ladoke Akintola University of Technology, Ogbomoso, Nigeria
Abstract
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
