New Interface Protocol to Connect Multiple Bank Networks from a Single Outlet

Abstract

We propose an innovative interface protocol that will allow an access to multiple banks from a single outlet. This will enable a single branch to serve customers of several banks. This will in essence deleverage infrastructure of branch from banking business, allow banks to focus on service and product and not infrastructure, which is not its core competency. Having common branch will drastically reduce the number of branches required for given population and area; this will reduce operational cost of banking by manifolds. Protocol we propose uses dynamic network switching of the multiple networks to allow the common interface to access the API of different participating banks. We propose a scalable model which could harness Cloud computing if the load on the infrastructure is high. We have also given justification for the need of Cost saving for bank branches and potential benefits of implementing the proposed model.

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