E-banking Overview: Concepts, Challenges and Solutions
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E-banking Overview: Concepts, Challenges and Solutions Belbergui Chaimaa1 · Elkamoun Najib1 · Hilal Rachid1 Accepted: 29 October 2020 © Springer Science+Business Media, LLC, part of Springer Nature 2020
Abstract The expansion of information technology has led to a new form of banking. Traditional banking, based on the physical presence of the customer, is only a part of banking activities. In the last few years, electronic banking has emerged, adopting a new distribution channels like Internet and mobile services. The main goal was to allow businesses to improve the quality of service delivery and reduce transaction cost, and anytime and anywhere service demand for customers. However, it increased the vulnerability to fraudulent activities like spamming, phishing and credit card frauds. Then, the main challenge that opposes electronic banking is ensuring banking security. In this context, this paper aims to provide an overview of the electronic banking service highlighting various aspects, investigating various challenges and risks, and discussing some proposed solutions. Keywords E-banking · Risks · Security · Authentication
1 Introduction Electronic banking (e-banking) was born as a result of globalization, competition and rapid growth of IT systems. It has become the self-service delivery channel that allows banks to provide information and offer services to their customers with more convenience via several technology services like Internet and mobile phone [1]. This new technology was adopted by many organizations to enhance customer service quality and delivery, and reduce costs compared to the traditional approach. Electronic banking is an inexpensive way to conduct banking business, exchange information, and buy and sell goods or services from any place at any time. Also, it is a way to keep the existing customers and attract others to the bank. Despite the many benefits provided by e-banking, the increasing of distance between banks and customers may lead to security concerns and a lack of confidence. The * Belbergui Chaimaa [email protected] Elkamoun Najib [email protected] Hilal Rachid [email protected] 1
STIC Laboratory, Chouaib Doukkali University, El Jadida, Morocco
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number of attacks focused on electronic banking system vulnerabilities has been steadily growing during past years [2]. For this, the security and privacy of electronic banking services got the attention of researchers due to its strong influence on the business performance and customer satisfaction. Banks which offer electronic access to their banking systems should develop efficient security models which aim to provide authenticated and secured communications through insecure channels [3]. The solutions proposed in literature, which are discussed in the current paper, are either not efficient or not sufficient. In order to propose security solutions, it is first necessary to understand and classify the existing challenges, risks and attack techniques related to the use of e-banki
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