ATM cash management using genetic algorithm

Article history: Received January 18, 2013 Received in revised format 8 June 2013 Accepted 10 June 2013 Available online June 15 2013 Automatic teller machine (ATM) is one of the most popular banking facilities to do daily financial transactions. People use ATM services to pay bills, transfer funds and withdraw cash. Therefore, we can treat ATM as a tradition inventory problem and use simulation technique to analysis the amount of cash required on different occasions such as regular days, holidays, etc. The proposed model of this paper uses genetic algorithm to determine the replenishment cash strategy for each ATM. The survey uses all transactions accomplished during the fiscal years of 2011-2012 on one of Iranian banks named Ayande. The study categorizes various ATM based on the average daily transactions into three groups of low, medium and high levels. The preliminary results of our survey indicate that it is possible to do setup different strategies to manage cash in various banks, optimally. © 2013 Growing Science Ltd. All rights reserved.

• Publication year

  2013

• Venue

  Management Science Letters

• Publication date

  2013-07-01

• Fields of study

  Business, Psychology, Computer Science

• Identifiers
  DOI 10.5267/J.MSL.2013.06.022
• External record

  Open on Semantic Scholar

• Source metadata

  Semantic Scholar

• No claims are published for this paper.

• No concepts are published for this paper.

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