Online Banking Authentication Research Articles

Different Methods of Authentication for Mobile Banking

Online banking authentication has been recognized as a key factor in the security of online banking. nowadays, different methods have been developed for online banking validation which cause problems from hacker attacks and Internet theft. Our research showed that biometrics is appropriate options for dealing with these issues. In this article, different authentication protocols for online banking have been compered.

Customer Authentication in Mobile Banking-MLOps Practices and AI-Driven Biometric Authentication Systems

The intersection of customer demands, security, and innovative services in the diverse mobile banking space calls for continuous adaptation by financial institutions. Small challenges such as on-demand customization and scalability are addressed through merging technologies, which is important for smaller institutions undergoing IT modernization. Despite the slow pace of ML adoption in banking, those leveraging ML experience increased their success in this competitive landscape. This article looks at the role of MLOps in overcoming challenges posed by evolving data volumes and complexities in deploying and developing ML models within financial institutions. As online banking authentication holds an important role in securing financial transactions, a historical overview of authentication methods, from biometrics to tokens, creates a chance to delve into the transformative potential of AI-driven biometric authentication. With the increase in mobile banking fraud, the need to safeguard sensitive customer data is met with radical technology. The article examines the varied authentication methods employed in online banking applications and depicts the potential of biometrics, majorly behavioral biometrics, to improve security and user experience. The rise of online mobile banking systems introduces both convenience and security concerns, thus prompting a closer look at the adoption of biometrics to mitigate fraud risks and improve the seamless authentication process throughout the user session. Customers increasingly demand quick and easy mobile payments, so biometrics has become a key fraud prevention and detection solution. By running in the background and eliminating setup authentication and risk-based authentication, behavioral biometrics significantly reduces fraud, thus addressing the limitations of traditional authentication methods like email verification and passwords. The article navigates the evolving mobile banking security space, highlighting the important role of MLOps and the potential of AI-driven biometric authentication in meeting the dual objectives of improving customer experience and strengthening severity protocols.

A Survey of Authentication and Communications Security in Online Banking

A survey was conducted to provide a state of the art of online banking authentication and communications security implementations. Between global regions the applied (single or multifactor) authentication schemes differ greatly, as well as the security of SSL/TLS implementations. Three phases for online banking development are identified. It is predicted that mobile banking will enter a third phase, characterized by the use of standard web technologies to develop mobile banking applications for different platforms. This has the potential to make mobile banking a target for attacks in a similar manner that home banking currently is.

Two-factor authentication for the Bitcoin protocol

We show how to realize two-factor authentication for a Bitcoin wallet. To do so, we explain how to employ an ECDSA adaption of the two-party signature protocol by MacKenzie and Reiter (Int J Inf Secur 2(3---4):218---239, 2004. doi:10.1007/s10207-004-0041-0) in the context of Bitcoin and present a prototypic implementation of a Bitcoin wallet that offers both: two-factor authentication and verification over a separate channel. Since we use a smart phone as the second authentication factor, our solution can be used with hardware already available to most users and the user experience is quite similar to the existing online banking authentication methods.

CAPTCHA in Security ECIS: Depress Phishing by CAPTCHA with OTP

In this project, a cost saving CAPTCHA authentication application is designed to address recent online banking threats, and is focused on enabling safe online banking authentication for a security unconscious user. The prime challenges of a secure online banking system are to enable safe online banking on a compromised host, and to solve the general ignorance of security warning. There are costly hardware solutions proposed, however most of them may not be practical for home users. Extended CAPTCHA Input System (ECIS) (Leung, 2009a) which offers a low cost software solution is proposed in this paper. Building on previous works (Leung, 2009b,a), the ECIS firstly extended the CAPTCHA idea to defend against Real-Time Man-In-The-Middle (RT-MITM) attack (Schneier, 2005). The trick is to employ a moving CAPTCHA for the input of One Time Password (OTP) with a time restriction, which can depress MITM auto-relaying of information as well as human assisted MITM attack. As ECIS and its session secret are designed to...