Banking Encryption Security Technology

The increase in the number of banks and their customers has resulted into a bigger database as well as additional requirement of security for the database. Moreover, use of online banking, loans and transactions involving large amount of money has increased a lot. The security issues has therefore increased. With increase in the number of frauds, it has become important for banks to have a safe and secure method to keep a tab on the user, their transactions as well as curb the amount of frauds in various transactions. The proposed system implements the three basic attributes of a human body which cannot be hacked into. The system BEST an acronym of Bank Encryption Security Technology uses the retina scan module, finger print module and voice enabled password. All the three have been used individually but BEST combines all the technology in one system and generates a user specific code. The code is an encrypted form of the three data that was collected. The code generation algorithm samples out the various values from the three attributes of the user and forms a code or a password which is unique to a person. The same password should then be said vocally so that a double verification can be performed. The above technology can be implemented using a database, but it becomes very difficult to handle and store databases of large number of customers. So the code will work real time. During the registration of a customer all the three values will be recorded and a code will be generated which will be attached to the customer’s account. When the customer wants to make large transactions either in the form of cheque or online payment, his finger print, retina image and vocal password will be recorded and the software will generate a code. Since the user being registered in the bank, the generated code will match the code that is attached to his account. In this way the user will be authenticated to use his account and make transactions.