Automated banking machine component authentication system and method

An automated banking machine comprising:

• a computer, wherein the computer includes a processor;
• a transaction function device in operative connection with the computer, wherein the transaction function device includes a processor;
• a first component operative in the processor of the computer, wherein the first component is operative to cause at least one first identity data to be accessed;
• and
• a second component operative in the processor of the transaction function device, wherein the first component is operative to cause to be generated at least one first authentication hash from the at least one first identity data and at least one hashing argument, wherein the first component is operative to cause a randomly generated secret key to be generated, wherein the first component is operative to cause the randomly generated secret key to be encrypted using a public key associated with the second component, wherein the first component is operative to cause at least one message to be sent to the second component which includes the encrypted secret key and the at least one first authentication hash, wherein the second component is operative to cause the secret key to be decrypted with a private key that corresponds to the public key, wherein the second component is operative to cause at least one second authentication hash to be compared to the first authentication hash, wherein when the at least one first authentication hash corresponds to the at least one second authentication hash, the second component is operative to enable the transaction function device to perform a transaction function in response to at least one encrypted message received from the first component.