Study on Secure Online Banking Techniques

Financial institutions are the biggest motivators for technocrats in terms of information and online transactions. Banking institutions are advancing in technology usage. They are first in adopting latest technology. This decade is dedicated to online banking. But after enhancement in security in online banking, banks will strives to get more customers to use online banking. The current scenario increases the pace of online banking. Despite this, security and other constraints mess the growth of online banking. To make a great success, banks and its IT solution partners implement various security methodologies like implementation of Secure Socket Layer, Security protocols and fraud detection, two-way authentication methods for authorizing transactions. The present paper discusses the potential threats and their solution, appliances and their implementation to make secure online banking. These issues were researched with the qualitative approach to provide imperial solution to make online banking more secure. Also, this paper gives theoretical insight for researchers who are working on online security domain.