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A Review on Advanced Security Solutions in Online Banking Models

Author

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  • Aithal, Sreeramana

Abstract

Online banking using mobile devices (mobile banking) is an effective and convenient way of providing electronic banking facility to customers 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 for 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.

Suggested Citation

  • Aithal, Sreeramana, 2016. "A Review on Advanced Security Solutions in Online Banking Models," MPRA Paper 71749, University Library of Munich, Germany, revised May 2016.
  • Handle: RePEc:pra:mprapa:71749
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    File URL: https://mpra.ub.uni-muenchen.de/71749/1/MPRA_paper_71749.pdf
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    Cited by:

    1. Aithal, Sreeramana, 2016. "Review on Various Ideal System Models Used to Improve the Characteristics of Practical Systems," MPRA Paper 74395, University Library of Munich, Germany, revised 20 Sep 2016.

    More about this item

    Keywords

    Online financial transaction; bio-metric authentication; ubiquitous banking; mobile business.;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services

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