scholarly journals Development of One-Time Password (OTP) for ATM/POS : A Review of Related Works

2020 ◽  
Vol 26 ◽  
pp. 55-60
Author(s):  
S. Jurgene ◽  
◽  
O.B. Longe
Keyword(s):  
Research Abstract ◽  
Internet Banking ◽  
Online Banking ◽  
The Internet ◽  
Payment Cards ◽  
One Time Password ◽  
Financial Transactions

This study is aimed at designing a One-Time Password (OTP) for ATM/POS. The emergence of the Internet Banking leads to the Introduction of Plastic payment cards that provide a suitable and secure medium which people conduct a variety of financial transactions. But with this exciting innovation, it has also led to crime opportunities called “PLASTIC FRAUDS”. Notwithstanding, this crime must be controlled and that is why the banks must adopt a preventive and proactive method to fight the crimes. This calls for a One-Time Password (OTP) for ATM/POS. In this paper, we reviuewed Related Literaure and set the agenda for the research. Abstract- One-Time Password (OTP), ATM/POS, Security, Online Banking, Protection

E-Banking Application and Issues in Abbey National Plc

2011 ◽  
pp. 253-258 ◽  
Author(s):  
Mark X. Xu ◽  
Siobhan Wilkes ◽  
Mahmood H. Shah
Keyword(s):  
Internet Banking ◽  
Online Banking ◽  
The Internet ◽  
Banking Services ◽  
Automated Teller Machines ◽  
Internet Portal ◽  
Internet Connection ◽  
Banking Service ◽  
Limited Company ◽  
Account Information

The financial service is facing a new delivery challenge in the shape of the Internet and e-commerce (Akamavi, 2005). The Internet as a channel for banking service delivery is fundamentally different from other channels such as branch networks, telephone banking, or automated teller machines (ATMs). The term e-banking is often used interchangeably with online banking, Internet banking, and PC banking. For example, Pikkarainen, Pikkarainen, Karjaluoto, and Pahnila (2004) define online banking as an Internet portal, through which customers can use different kinds of banking services ranging from bill payment to making investments. A bank’s Web site offering only information without possibility to conduct any transactions is not qualified as online banking. Lbbotson and Moran (2003) use the term “electronic forms of banking”, which includes telephone banking, PC banking, and Internet banking. In line with this definition, Lassar, Manolis, and Lassar (2005) refer e-banking as various formats or technologies, including telephone banking, direct bill payment, electronic fund transfer, PC banking, and online (Internet) banking. In this article, e-banking is referred to Internet banking or Online banking that it must enable Internet based transactions. This distinguishes e-banking from other electronic-based remote banking. E-banking can be carried out anywhere from a device with an Internet connection and it enables access to account information and conduct online transactions. E-banking brings up unique types of challenges and requires novel solutions (Shah & Gupta, 2005; Southard & Siau, 2004). This article reviews how e-banking has been developed in Abbey National PLC (Public Limited Company) with a focus on the important issues when implementing e-banking applications1.

Barriers to Internet banking adoption: a qualitative study among corporate customers in Thailand

2003 ◽  
Vol 21 (6/7) ◽  
pp. 312-323 ◽  
Author(s):  
Siriluck Rotchanakitumnuai ◽  
Mark Speece
Keyword(s):  
Qualitative Study ◽  
Qualitative Interviews ◽  
Internet Banking ◽  
The Internet ◽  
Major Barrier ◽  
Self Service ◽  
Self Service Technology ◽  
Financial Transactions ◽  
Corporate Customers

Many Thai banks are currently implementing Internet banking. Banks that offer service via this channel claim that it reduces costs and makes them more competitive. However, many corporate customers are not highly enthusiastic about Internet banking. An understanding of why corporate customers do not accept Internet banking can assist banks to implement this self‐service technology more efficiently. In‐depth qualitative interviews with Thai firms suggest that security of the Internet is a major factor inhibiting wider adoption. Those already using Internet banking seem to have more confidence that the system is reliable, whereas non‐users are much more service conscious, and do not trust financial transactions made via Internet channels. Non‐Internet banking users tend to have more negative management attitudes toward adoption and are more likely to claim lack of resources. Legal support is also a major barrier to Internet banking adoption for corporate customers.

scholarly journals User Experience with Security Elements in Internet and Mobile Banking

Organizacija ◽  
2016 ◽  
Vol 49 (4) ◽  
pp. 251-260 ◽  
Author(s):  
Aleksandra Svilar ◽  
Jože Zupančič
Keyword(s):  
Statistical Methods ◽  
User Experience ◽  
Online Survey ◽  
Internet Banking ◽  
Current Situation ◽  
Online Banking ◽  
The Internet ◽  
Mobile Banking ◽  
Banking Services

Abstract Background/Purpose: Maintaining a balance between security and a positive user experience in mobile and Internet banking is becoming increasingly difficult for the providers of banking services. The goal of our research is to analyse user opinions about the current situation: how users perceive security and how the authentication methods they are using affect user experience. Methodology: Data were collected using an online survey among the users of 15 banks operating in Slovenia, and statistical methods were applied to analyse them. Results of the users’ study were evaluated and commented by a limited number of interviewed banking security experts. Results: The results indicate that the use of mobile banking in Slovenia is relatively low, as only 30 percent of respondents use mobile banking along with Internet banking. Slovenian users perceive security to be the most important factor in mobile and online banking, closely followed by reliability. We also verified whether the users knew which authentication methods they were using: 69% of respondents selected the correct authentication method. The opinion of 88% of respondents was that authentication methods do not limit them when using mobile and Internet banking. Results of the study of user’s opinions did not surprise the experts, although experts’ views about the balance between security and usability diverged considerably. Conclusion: Our results indicate that, in Slovenia, users of the Internet and mobile banking services regard security to be the most important element in mobile or Internet banking and find user experience less important while they absolutely do want products that are easy to use.

scholarly journals Modern Forms of Bank Service in Albania

2016 ◽  
Vol 1 (1) ◽  
pp. 15
Author(s):  
Jehona Gjermizi ◽  
Blerim Kola
Keyword(s):  
Qualitative Interviews ◽  
Internet Banking ◽  
The Internet ◽  
Major Barrier ◽  
Self Service ◽  
Self Service Technology ◽  
Financial Transactions ◽  
Corporate Customers

Albanian banks are currently implementing e-banking. Banks that offer service via this channel claim that it reduces costs and makes them more competitive. However, many corporate consumers are not highly enthusiastic about Internet banking. An understanding of why corporate customers do not accept Internet banking can assist banks to implement this self-service technology more efficiently. In-depth qualitative interviews with Albanian firms suggest that security of the internet is a major factor inhibiting wider adoption. Those already using Internet banking seem to have more confidence that the system is reliable,whereas non-users are much more service conscious,and do not trust financial transactions made via Internet channels. Non-internet banking users tend to have more negative management attitudes toward adoption and are more likely to claim lack of resources. Legal support is also a major barrier to Internet banking adoption for corporate customers.

Ransomware

2018 ◽  
pp. 313-339
Author(s):  
Akashdeep Bhardwaj
Keyword(s):  
Social Interactions ◽  
Internet Use ◽  
New Age ◽  
Online Banking ◽  
Digital Data ◽  
The Internet ◽  
Online Security ◽  
Massive Scale ◽  
Financial Transactions ◽  
Critical Aspects

Compared to the last five to six years, the massive scale by which innocent users are being subjected to a new age threat in form of digital extortion has never been seen before. With the rise of Internet, use of personal computers and devices has mushroomed to immense scale, with cyber criminals subjecting innocent users to extortion using malware. The primary victim to be hit the most has been online banking, impacting the security and reputation of banking and financial transactions along with social interactions. Online security revolves around three critical aspects – starting with the use of digital data and files, next with the use of computer systems and finally the internet as an unsecure medium. This is where Ransomware has become one of the most malicious form of malware for digital extortion threats to home and corporate user alike.

Ransomware

2017 ◽  
pp. 189-221 ◽  
Author(s):  
Akashdeep Bhardwaj
Keyword(s):  
Social Interactions ◽  
Internet Use ◽  
New Age ◽  
Online Banking ◽  
Digital Data ◽  
The Internet ◽  
Online Security ◽  
Massive Scale ◽  
Financial Transactions ◽  
Critical Aspects

Compared to the last five to six years, the massive scale by which innocent users are being subjected to a new age threat in form of digital extortion has never been seen before. With the rise of Internet, use of personal computers and devices has mushroomed to immense scale, with cyber criminals subjecting innocent users to extortion using malware. The primary victim to be hit the most has been online banking, impacting the security and reputation of banking and financial transactions along with social interactions. Online security revolves around three critical aspects – starting with the use of digital data and files, next with the use of computer systems and finally the internet as an unsecure medium. This is where Ransomware has become one of the most malicious form of malware for digital extortion threats to home and corporate user alike.

scholarly journals Analyzing the Expectation Reality Gap in Online Banking Services

2019 ◽  
Vol 8 (2S8) ◽  
pp. 380-385
Keyword(s):  
Internet Banking ◽  
Online Banking ◽  
The Internet ◽  
Banking Services ◽  
Minor Influence ◽  
To Come ◽  
A Minor ◽  
Financial Administration ◽  
In Transit ◽  
Basic Level

The Internet has on a very basic level changed the financial business by giving individuals increasingly prompt command over the administration of their accounts. This examination explored whether a hole exists between client desires for Internet Banking and the fulfillment of these desires in the virtual condition. The examination was operationalized by methods for a study among web banking clients. The exploration concentrated explicitly in transit clients of Internet banking destinations felt about the administration and usefulness they got on the Internet and whether their desires for this financial administration were being met. What rose up out of the examination was that clients were content with their essential Internet banking knowledge. What they were not happy with, were cost issues and the absence of customized administration. Issues, for example, speed and further developed usefulness additionally had a minor influence. Likewise, Internet banking clients felt there was an absence of combination crosswise over financial channels. In any case, except if this fulfillment is kept up and expanded, banks could lose clients to the officially rising virtual, imaginative and more financially savvy elective banks of things to come.

scholarly journals Um estudo da experiência dos usuários de Internet banking de um banco público brasileiro

2018 ◽  
Author(s):  
Thiago Hellen Oliveira da Silva ◽  
Jeferson Da Silva Juliani ◽  
Marília Soares Mendes ◽  
Carlos Rosemberg Maia de Carvalho
Keyword(s):  
User Experience ◽  
Usability Testing ◽  
Internet Banking ◽  
Log Analysis ◽  
The Internet ◽  
Generic Model ◽  
Banking Systems ◽  
Essential Services ◽  
Financial Transactions ◽  
Access Log Analysis

Banking systems have been a frequent concern between customers and companies, since the number of financial transactions carried out by the Internet has increased considerably. This study investigated the experience of internet banking users of a Brazilian bank. Techniques such as interviews, access log analysis, user journeys and usability testing were applied to identify the elements of the user experience using a generic model. From the studies carried out, it was verified that the characteristic users of the service had difficulty or are unable to use all the essential services of internet banking and are necessary design improvements of current interface.

Internet Navigation Skills for Financial Management: Associations with Age, Neurocognitive Performance, and Functional Capacity

2020 ◽  
Author(s):  
Samina Rahman ◽  
Victoria Kordovski ◽  
Savanna Tierney ◽  
Steven Paul Woods
Keyword(s):  
Older Adults ◽  
Functional Capacity ◽  
Financial Management ◽  
Internet Banking ◽  
Online Banking ◽  
Neurocognitive Performance ◽  
Younger Adults ◽  
Neurocognitive Functions ◽  
Age Related ◽  
Use Factors

Objective: Online banking is becoming increasingly common among older adults, whomay experience difficulties effectively navigating this instrumental technology. Thisstudy examined age effects on a performance-based Internet banking task and itsassociation with neurocognitive ability and functional capacity in older and youngeradults. Method: Thirty-five older adults and 50 younger adults completed anexperimenter-controlled online banking measure in which they independentlyperformed a series of naturalistic financial tasks (e.g., account transfers, bill paying).Participants also completed a standardized battery of neuropsychological tests andmeasures of functional capacity. Results: Older adults were markedly slower and lessaccurate in completing the Internet-based banking task, which was not confounded byother demographic, mood, or computer use factors. Higher scores on measures ofneurocognition and financial functional capacity were both strongly associated withhigher Internet-based banking task accuracy scores and quicker completion times inthe older, but not the younger adults. Conclusions: Findings suggest that older adultsexperience difficultly quickly and accurately navigating online banking platforms, whichmay be partly related to age-related declines in neurocognitive functions and basicfinancial capacity. Future studies might examine whether neurocognitive approaches toremediation and compensation can be used to improve online banking capacity inolder adults.

Financial Innovations and Performance of Commercial Banks in Kenya

2020 ◽  
Vol 2 (2) ◽  
pp. 21-33
Author(s):  
Naomi Wanja Ireri ◽  
Gladys Kimutai
Keyword(s):  
Rural Areas ◽  
Commercial Banks ◽  
Internet Banking ◽  
Ease Of Use ◽  
Primary Data ◽  
The Internet ◽  
Mobile Banking ◽  
Good Opportunity ◽  
Financial Innovations ◽  
Automated Teller Machine

Commercial banks in Kenya have embraced alternative banking channels which represent a shift in delivery of banking and financial services since the alternative banking have become synonymous with commercial banks in Kenya. While banks have succeeded in leveraging available technology and provide alternative avenues to customers for banking services, the challenge it faces today is optimizing the usage of these channels so as to improve on their performance. The general objective of this study was to investigate the effects of financial innovations on the performance of commercial banks in Kenya. The specific objectives of the study were to examine the influence of internet banking, mobile banking, agency banking and ATM banking on the performance of commercial banks in Kenya. The study was guided by agency theory, balanced score card and diffusion of innovation theory. This study employed a descriptive research design. The study targeted44 commercial banks in Kenya as at 2017. The 16 banks which embrace all the four financial innovations from 2013 to 2017were selected using purposive sampling method. The sample size was 80 respondents who comprised of 5 senior management employees in each of the selected banks.This study used questionnaire to collect primary data from the respondents. Content analysis technique was used to analyze qualitative data collected from open ended questions in and reported in narrative form. Descriptive statistics such as mean and standard deviation were used to analyse the quantitative data. Multiple regression analysis was used to show the relationship between independent variables against dependent variable. The study revealed that internet banking, mobile banking, agency banking and ATM banking had a positive and significant effect on the performance of commercial banks. Thisstudy concludes that the banking industry has benefited tremendously from the development of the Internet. The Internet fundamentally changed the way in which banking networks are designed to meet the client demands and expectations. Mobile banking provides a good opportunity to commercial banks in Kenya to reach many mobile phone subscribers in Kenya who had remained unbanked and unreached due to limited access to bank branch networks in the country. The access to the large masses through mobile banking of the population gives banks the opportunity to grow by reaching the unbanked population. Agency banking has led to accessibility of financial service to many customer in remote areas and hence an increase in effectiveness and efficiency in service delivery. Customers are satisfied with the automated teller machine services because of ease of use, transaction cost and service security but not satisfy with automated teller machine dispense of cash. The study recommends that the public and businesses must be encouraged to use Internet banking in their daily activities, including deposits, payments and money transfers. Commercial banks in Kenya should ensure convenience and security of mobile banking through written guidelines on convenience and security of mobile banking. Commercial banks in Kenya should increase the number of agents in estates and in the rural areas. This can be done by reducing the requirements of becoming a bank agent. The banks should employ customized software that records relevant information on automated teller machine cards so that banks can establish whether unauthorized transaction has taken place or not.

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