Enhancement of Security in Mobile Banking Applications

Mobile Banking is an option which gives user the possibility to perform various banking operations such as account transaction and other basic services available daily in banks through a mobile device such as smartphone or tablet. The security and privacy of sensitive financial data is one of the main concerns in acceptance of these systems all over the world. It is specifically important to secure the transmission of the financial data between the financial institutions’ server and the mobile device used by consumers, as their communications are via unsecured networks (Internet). In this paper, a trust negotiation approach is proposed to address these security concerns. Trust negotiation is combined with the Transport Layer Security (TLS) as the underlying protocol. This combination of technology aims to maximize the existing security of m-banking applications. It results in significant improvements in security compared to the traditional identity-based only access control techniques. The proposed approach is implemented as a mobile application.