Development of an enhanced internet banking network security model

The continuous growth in Internet banking has increased the importance of security in delivering Internet banking services to customers. This is because the Internet banking systems are opened up to the environment which makes it vulnerable to attack. However, the existing models are focused more on fraud identification and less on fraud prevention. In order to increase confidence and trust of customers, online banking systems require efficient network security models capable of mitigating frauds by identifying users and authorizing transactions using an enhanced model which combines different authentication mechanisms that can enforce stronger authentication and authorization for Internet banking transactions, hence this study. The aim of this work was to develop an enhanced Internet network security model for Internet banking. The objectives were to develop a system that could; ensure that the information viewed by users remain private; provide effective detective and preventive payment mechanism for legitimate users; develop a security platform where customers and banks authenticate each other; sign processed transactions online; create database history for each user and have capacity to adapt itself with future technologies. This work was done using a combination of Neural networks and Fuzzy System model of web servers for more effective decision making. The model systematically combined authentication mechanisms of Dynamic Key Generation (DKG), Group Key (GK) and Zero Touch Multi Factor Authentication (ZTMA) to enhance security properties of all transaction payments in the Internet banking systems. The system was implemented using Java server Pages (JSP) from a suite of Java programming language and MySQL open data base connectivity. The result of this work provided a model that enhanced security that crossed two attack boundaries - offline and online channel breaking; provided greater interoperability among banks irrespective of location; provided non repudiation of services between banks and their customers; guaranteed safety of customers’ transactions through their PCs and electronic gadgets; ensured that signed transactions were traceable and verifiable and ensured proper authentication and authorization of all transactions and levels of access associated with Internet-based customer products and services; thereby increasing trust, confidence, integrity and availability to its users. The enhanced Internet banking model developed in this work ensured that bank’s customers receive more efficient and secured transactions by successfully crossing the two attack boundaries – offline and online channel breaking and guaranteed that banks and their customers authenticate each other