Abstract
Electronic banking must be secure and easy to use and many banks heavily advertise an apparent of 100% secure system which is contestable in many points. In this work, an alternative approach to the design of e-banking system, through a new solution for user authentication and security with digital certificate called LumaCert is introduced. The certificate applies new algorithm for asymmetric encryption by utilizing two mathematical operators called Pentors and UltraPentors. The public and private key in this algorithm represent a quadruple of parameters which are directly dependent from the above mentioned operators. The strength of the algorithm resides in the inability to find the respective Pentor and UltraPentor operator from the mentioned parameters. their banks. In the U.K., online banking fraud increased by 55% during the first six months of 2006. It is reported that online attacks influenced nearly 30% of online banking users; more than 75% of those users logged in less frequently, and about 14% stopped paying bills online (1). Based on the above mentioned research, it can be seen that the potential of becoming an internet victim is getting higher, and in this paper we will describe current authentications and we will propose a new solution for user authentication as well as how these solutions can be extended in the face of more complex future attacks.
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