Abstract

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M-BANKING VERIFICATION USING OTP AND BIOMETRICS

P. S. Sakhare, D. Y. Chirayil


Due to the fast development of information and communication technology (ICT), the modes of transaction in banking sector has been changed from on-side to remote and upgraded to telephone banking, and quickly entered into the era of online-banking. Currently, it has been moving towards the generation of M-banking (mobile banking).In order to provide the security M-banking has adopted, one-time password (OTP), smart card, user-defined password, as a remedy over the risk of stealing while M-banking is undertaken. The previous technologies used to send OTP's to the personal mobile phone, but now most smart mobile phones can easily perform M-banking. Thus, there is a higher risk to information security due to mobile phone hacking. The personal biometrics (finger, face and iris) have been adopted and combined with the OTP for the verification of M-banking. The server side then generates an client defined OTP message and transmit that to the mobile phone via internet. Now the user is supposed to enter the OTP received via a webpage of the M-banking system for the purpose of verification in order to gain authority to perform further transactions.