And when the issue of debit cards and credit cards came into massive existence, there started arising the security concerns in adoption of internet banking. Considering the banking sector, the technology improvisation in banks was started with Computerisation of cash transaction which included the entry of passbook, issuing of debit cards and issuing of credit cards, operations in finance services among others, which were usually conducted through face-to-face interactions at a branch closest to the customer. Though the technology has been implemented in various sectors like Agricultural sector, Industrial sector, and tertiary sectors, in specific massive growth in Banking sector after the year 1991, the introduction of Liberalisation, Privatisation and Globalisation there were so much intake of foreign investments which lead to the growth of every industry. This paper will look into the main security challenges faced by Banks and its customers and in furtherance to that proffer solutions based on the data collected.įrom the evolution of technology, India has seen its huge growth in public sectors and also in specific private sectors. For this reason, the banks cannot assume liability for them. The systems used by online banking customers are therefore exposed to risks beyond the banks control. Moreover, the system selected – a personal computer (PC) connected to the internet, for example-will usually be used for a number of other applications as well. But the banks normally have no influence over the system used by their customers. This includes, for example, ensuring that confidential data sent over the internet cannot be accessed or modified by unauthorized third parties. With this in mind, banks take extensive steps to protect its customers and also information transmitted and processed when carrying out banking online. While the internet offers enormous advantages and opportunities, it also presents various security risks. Online banking has given us almost everything we asked for as far as banking is concerned, and is still being revolutionized to offer more simplicity in our everyday banking experience.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |