By Topic

NOVADIB: a novel architecture for asynchronous, distributed, real-time banking modeled on loosely coupled parallel processors

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$31 $13
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

1 Author(s)
Ghosh, S. ; Div. of Eng., Brown Univ., Providence, RI, USA

The payment-processing system in the banking industry consists of deposits, withdrawals, and transfers of monies through the use of cash, checks, magnetic tapes, and electronic transactions. Most transactions are realized by batch-mode processing. Batch-mode processing suffers from many limitations, the principal ones being that 1) users are denied real-time access to their money and that 2) a user's banking privileges cannot be extended anywhere in the USA-a facility that is increasingly being demanded by users. It is observed that the banking process may be mathematically mapped to a discrete-event simulation system with feedback loops wherein deposits, withdrawals, and transfers may be modeled as events that are introduced into the system asynchronously, i.e. at irregular intervals of time. A new architecture, NOVADIB, is proposed for the check processing subsystem of the Federal Reserve System that distributes the processing operations to multiple, concurrent, cooperating geographically distributed computers, i.e. at many sites, to achieve real-time transaction processing. NOVADIB utilizes the principles of asynchronous, distributed, discrete-event simulation algorithm for cyclic circuits, YADDES, and mathematically guarantees the accuracy of every transaction

Published in:

Systems, Man and Cybernetics, IEEE Transactions on  (Volume:23 ,  Issue: 3 )