Introduction to Computer Project on Secured Authentication for Online Banking Using Mobile Phones :
The Banks now days provide the facility of online banking to their customers to perform financial transactions by the virtual bank or digital bank website. The Proposed system assures the online banking in a very secured and efficient manner.
The customer of the bank is allowed to perform transactions through ATM’s with the help of personal key security password or token provided by the online bank server to the customer’s mobile. The key token is created by the application of the SHA256 and Base64 algorithm by use of IMSI and IMEI register number of the customer mobile. The SMS are being sent to the customer after assuring the customer is registered and verified the account owner.
The customer will be provided a PIN and the Master key after registering to the online banking services. The customer has option to use the Unique Master Key in case of losing the mobile. Normally the private key token can be applied for the transactions for the easy and secured authentication instead of taking the USB tokens.
The facility for the customers is more secure and easy to perform the transactions and hacking is avoided.
The Existing System
The swipe card and the pin given to the customer to access of ATM’s for the transactions. If the card is lost and may be theft, an unauthorized user access possible. The existing system has no solution for the lost of card.
The Proposed System
The Proposed System has answer to the problem and Online Banking System provides the authentication to the Mobile phone to perform transactions and confirm the transactions to avoid the unauthorized access. The Mobile phone is better option for the Online Banking authentication as compared to the USB flash drivers. The threat free system has a token number to the customer different for every transaction to withdraw money, balance enquiry and the fund transfer.
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