Multi-layer Logon Verification System: A Case Study of Indian Banks

Internet is only the medium which connects billions of people globally and finally has been removed all physical barriers. Bank is also one of the sector which greatly influenced with the invent of Internet. However, Internet banking is one of the service of the bank which provides many services online to the customers without being physically visit the bank.On the one end Internet banking bring many services to the customer but on the contrary also pose a risk of fraud, theft and vandalism.

The key aspect of any online services to authenticate the customer without any face-to-face communication.which ultimately challenge for the technology to validate them without any compromise. In the whole scenario security can be compromised at three level ;at the client,in transit and at the server.Presently there are number of authentications methods proposed by the researcher worldwide for the financial institutions but my study is particularly focus on Indian Banks. Moreover, a special focus given on online services providing by the banks to their customers. Study reveals the authentication methods is a layered approach to achieve high degree of privacy and security in online services and which is a combination of two approach such as mobile and Token based authentication methods.

I have conducted a study of 25 banks of India to collect the data regarding present Authentication methods adopted presently. The paper describe in detail working of the said authentication methods and future implementation of these technologies.