A Provably Secure Android-Based Mobile Banking Protocol

Abstract

The rising vogue of smart phones and tablets has led users to complete their daily works (such as M-Banking) with these devices. Therefore, mobile banking needs to become more proper, reliable, effective; and secure. Security is the most crucial requirement in mobile banking, since all the communications are via unsecure networks such as the Internet. Providing main security services; Confidentiality, Integrity, and Authentication (CIA) between any two communicating parties must be ensured and guaranteed. Many vulnerabilities may make Users’ confidential information vulnerable to risks. These vulnerabilities can take different shapes, such as fixed values-based security techniques, one factor authentication, separate hard token-based authentication, hardware thievery, and Android OS based attacks. This paper proposes a new secure scheme for mobile banking applications to overcome these risks. Then, the proposed scheme is analyzed, and compared to the most powered approaches. Finally, performance key identifiers are assessed and validated.