A Secured Way to Enhance Online Banking Transaction
Maleeha Khan1, Vinjam Likitha2, G. Vijay Kumar3
1Maleeha Khan, Department of ECM, Koneru Lakshmaiah Education Foundation, Vaddeswarm (A.P), India.
2Vinjam Likitha, Department of ECM, Koneru Lakshmaiah Education Foundation, Vaddeswarm (A.P), India.
3Dr. G.Vijay Kumar, Department of ECM, Koneru Lakshmaiah Education Foundation, Vaddeswarm (A.P), India.
Manuscript received on 07 April 2019 | Revised Manuscript received on 20 April 2019 | Manuscript published on 30 April 2019 | PP: 1589-1591 | Volume-8 Issue-6, April 2019 | Retrieval Number: F5067048619/19©BEIESP
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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: The need for security in online banking is popular due to various cybercrimes emerging in recent years. As of now existed framework contains numerous sorts of strategies like One Time Password (OTP), Biometric Authentication, Mobile Transaction Authentication Number (mTAN) and some more. So, based on the various cyberattack issues taking place while committing financial transaction we proposed the idea of introducing challenge questions (CQ) to provide security at the time of transaction. This paper aims at intensifying a secured transaction in online banking wherein we add a security layer to the existing OTP methodology which contains challenge questions (CQ) from Know Your Customer database. After successful login of account we have to answer the CQ and then enter the OTP for final transaction.This methodology provides a secured way to transfer money from our accounts and make it secure.
Keyword: Security, Know Your Customer, Challenge Question, Online Banking, One Time Password.
Scope of the Article: Online Learning Systems