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Trusted framework for online banking
03-07-2018, 02:02 AM,
Trusted framework for online banking
TOPIC: Trusted framework for online banking in public cloud using multi-factor authentication and privacy protection gateway

Cloud computing is a method for delivering information technology (IT) services —servers, storage, databases, networking, software, analytics and more—over the Internet (“the cloud”). The traditional online banking systems can make use of the cloud framework for providing economical and high-speed online service to the consumers. The cloud environment is more suitable paradigm to new, small and medium scale banking organizations as it eliminates the requirement for them to start with small resources and increase gradually as the service demand rises. Since, the public cloud based functionalities and security control aspects are managed out of the banking enterprises. Data security and privacy concerns prevent the banking stakeholders to migrate to the cloud-based platforms. As part of the threats landscape within public cloud, the online banking services need to be protected from the cloud service provider and other malicious attackers.
So, in order to avoid these problems this project implements MULTI FACTOR BIO- METRIC FINGER AUTHENTICATION APPROACH which provides a high-secure identity verification process for validating the legitimacy of the remote users. The significance of this approach is that the authentication credentials of the users are not revealed to the bank and cloud authentication servers, but allows the servers to perform remote users’ authentication. This is extended to develop a PRIVACY PROTECTION GATEWAY for obscuring and desensitizing the customers’ account details using TOKENIZATION and DATA ANONYMIZATION techniques.

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