ABSTRACT
The importance of security and privacy has increased in the banking and insurance industries. Online transactions require security at all times. Customers have access to all types of information and transactions online. But since information is not sufficiently encrypted, internet banking needs a lot of security and privacy. Online information on banks and their many services can be found through electronic banking. Nowadays, the fundamental component of banking services is electronic banking. The operational environment of the banking industry has undergone significant changes as a result of information technology. Banks have adopted cutting-edge methods in the form of automated teller machines, online banking, telephone banking, mobile banking, etc. The primary problem with all Internet banking methods is data security and privacy. The online banking system is also susceptible to user authentication-related assaults. This paper’s goal is to review various banking security measures and explain various data encryption strategies based on cryptographic technologies.
