A Review on Advanced Security Solutions in Online Banking Models

International Journal of Scientific Research and Modern Education (IJSRME), Volume I, Issue I, 2016, pp. 421-429. ISSN 2455 – 4200

9 Pages Posted: 6 Jun 2016

See all articles by P. S. Aithal

P. S. Aithal

Srinivas Institute of Management Studies

Date Written: June 3, 2016

Abstract

Online banking using mobile devices (mobile banking) is an effective and convenient way of providing electronic banking facility to consumers from anywhere and at any time. The advent of mobile communication technology coupled with a boost in trade and commerce activity is increasingly driving the banking financial services to become ubiquitous, personalized, convenient, disseminative and secure. Realizing the advantages to be gained from mobile banking, financial institutions have begun to offer mobile banking options for their customers in addition to the internet banking they already provide. The large scale use of mobile phones in mobile banking has been closely followed by the increase in mobile fraud. Although eager to use mobile financial services, many subscribers are concerned about the security aspect when carrying out financial transactions over the mobile network. In fact, lack of security is seen as the biggest deterrent to the widespread adoption of mobile financial services. Hence, fraud prevention has become an essential ingredient in the success of online financial transactions. To enhance the security of the online financial transaction, a biometric fingerprint authentication system is proposed. In this paper, the feasibility and limitations of an advanced biometric fingerprint authentication system for mobile banking are discussed.

Keywords: Online Financial Transaction, Biometric Authentication & Ubiquitous Banking, Mobile Business.

Suggested Citation

Aithal, P. S., A Review on Advanced Security Solutions in Online Banking Models (June 3, 2016). International Journal of Scientific Research and Modern Education (IJSRME), Volume I, Issue I, 2016, pp. 421-429. ISSN 2455 – 4200. Available at SSRN: https://ssrn.com/abstract=2789695

P. S. Aithal (Contact Author)

Srinivas Institute of Management Studies ( email )

Srinivas Campus
Pandeshwar
Mangalore, Mangalore 575001
India
9343348392 (Phone)

HOME PAGE: http://www.srinivasuniversity.ac.in

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