Paper Key : IRJ************463
Author: Dr.n.murali,R.kalaiselvan,K.mafrook,R.harirajan
Date Published: 01 Apr 2024
Abstract
In order to fortify the securitymeasures of the online banking system and mitigatethe risks associated with malicious access, amultilayer authentication process is proposed. Thismultilayer approach integrates three distinctverification methods: account number verification,face biometric verification, and OTP (one-timePIN) verification.Account number verification is the first step inensuring that users can only access the system withvalid account credentials. Face biometricverification is the second step in adding security tothe system, requiring the user to authenticatethemselves using facial recognition. This reducesthe likelihood of unauthorized access even in theevent that account details are compromised.By using a challenge-response method, the OTPverification increases security even more bycreating a distinct, one-time PIN for everytransaction or login attempt. In order to ensure thatthe original PIN is hidden and to make it nearlyimpossible for malicious users to intercept andreuse the OTP, addition mod 10 and a challengekeypad are used to generate this OTP.Additionally, proactive notifications areimplemented to alert users in real-time about anyaccess to their banking interface or significanttransactions. These notifications serve as an extralayer of security, enabling users to promptlyidentify and address any suspicious activity on theiraccounts.By combining these multi-layered authenticationmethods and incorporating proactive notifications,the online banking system can significantly bolsterits security posture and provide users with greaterconfidence in the safety of their financialtransactions.