A robust and secure authentication mechanism in online banking

Online banking is on the up each day with a persistent rise in the number of people using this novel service to carry out their financial transactions. This amplified interest in the use of online banking has consequently raised the concerns over the security. This has raised the need to protect online banking in to guard these transactions as well as establishing secure mechanisms for information exchange that prevent fraud and safeguard the personal data. With the internet now popular among all age groups, online banking has become a necessity. Security mechanisms are, therefore a must for the proper functioning of online banking. In addition to this, all the users are required to manage multiple passwords and devices. Security which are provided by the extensively used systems namely knowledge-based security and token-based security can be easily breached when one reveals his password and his cards are stolen. In order to overcome this, biometrics are used. Banks have started using single biometric systems for financial transactions. In order to provide further security for online banking transactions, the proposed system introduces the use of multiple(face and fingerprint) biometrics for online financial transaction where both are required for authentication of log-in-process and one biometric is used for transaction process, thus would help overcome traditional vulnerabilities. Further, this proposed research further explores the matching at the feature level, which of course is a under studied problem. Here in this approach, the feature sets extracted from multiple data sources would be fused to create a new feature set to represent the individual. Since the feature set contains better-off information about the fresh biometric data compared to the match score level or the final decision, combination at this level is possible to provide better authentication results. Initial results indicate that the planned technique can lead to large improvement in multimodal matching performance.