Multi-Modal Biometric Authentication and Secure Transaction Operation Framework for E-Banking

Multi-Modal Biometric Authentication and Secure Transaction Operation Framework for E-Banking

Munish Sabharwal (School of Engineering and Technology, KITE Group of Institutions, Meerut, India)
DOI: 10.4018/IJBDCN.2017010109
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Abstract

The rationale of the research work is to suggest a multi-modal biometric authentication and secure transaction operation framework for E-Banking. The literature survey identifies the various types of E-Banking Channels available as on-date, the various types of biometric technologies available as on-date as well the significant metrics affecting their performance while deploying them in various different e-banking channels. The performance analysis of various types of biometric technologies based on significant metrics for Biometrics Implementation further identifies the currently implementable biometric technologies for the various different e-banking channels. Subsequently a requirement analysis of potential e-banking channels is followed by System Suitability Analysis to identify which multi-biometrics and support mechanisms are suitable for particular e-banking channels. The final conclusion suggests a viable multi-modal biometric authentication and secure transaction operation framework for various e-banking channels.
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Introduction

The use of internet is becoming almost obligatory not just for the purpose of communication and business but particularly for e-banking and e-commerce, the user authentication is become significant in today’s technology leading era and there is an crucial necessity for technologies that have the potential to make authentication secure and foolproof.

The reliance of businesses on e-commerce has increased manifolds, so has the use of internet, proportionately the frauds have also increased manifolds specifically in e-banking and e-business channels.

Security as well as privacy of installations and systems has always been important and challenging but they have become more critical in this era of e-business, where it is regarding the security as well as privacy of data in electronic form. In the contemporary society personal identification or authentication has a very vital role as it facilitates in enhancing the security by the identification of a person.

Passwords or PIN (Personal Identification Number) are extensively used by IT based systems to validate a user to a system but the Password or PIN recognition does not mean the recognition of the person’s individuality since access to a token like Personal Identification Number, Password, Card or any other similar kind of ‘key’ that is required to get access to a system or installation can be gained by anybody fraudulently. This clearly suggests that installations or systems that require high access security cannot completely and permanently depend on such kinds of tokens; since they cannot guarantee that a user is same as whom s/he claims to be.

In today’s technology and gadget intensive world, an individual has to memorize several different passwords like at least one each for organizational login, professional and personal emails, social networking websites, cloud storages, e-stores, net banking, mobile banking, and other linked sites, with virtually every few days there is an additional password to remember. Not only remembering these passwords is becoming more and more cumbersome and forgetting them causes a lot of stress but the larger worry is that any revelation or giveaway may prove to be lethal. Therefore, an innovative, handy as well as secure technology is a requisite for authentication as well as transaction operation.

The core of modern business is Information and the all-encompassing influence of IT in attaching, gathering and processing vast volumes of information is ultimate. In such a scenario, it is essential to ensure the confidentiality of information while sticking to accepted privacy rules and making it accessible to legitimate users at the suitable time becomes vastly important. The above situation essentially implies more aptly for the banking sector because the day-to-day banking operations are focused entirely on information and information processing, which are exceedingly Technology dependent. IT has become the backbone of all banking activities and its support is allowing banks are coming out with new and innovative products and Uninterrupted service is ensured 24x7 Days to the customers due to total automation of banking transactions through various channels of e-banking are ATM, Electronic Money (e.g. Electronic Funds Transfer, Debit Cards, Credit Cards, Prepaid Cards, POS (Point of Sale) Terminals), Online Banking or Net Banking, Tele-banking, Mobile Banking as well as Mobile ATM and Mobile Bank but these have led to the use of precise authentication as an necessity in banking.

In order to cover the limitations associated with the conventional authentication methods, authentication method based on what you are that is “biometrics” was initiated. Instead of traditional methods like PIN’s or passwords, biometrics could be used to gain access to an installation or system or device. The biometrics based authentication mechanism can be used to prevent access to restricted areas and installations as well as critical information.

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