A secured electronic transaction scheme for mobile banking in Bangladesh incorporating digital watermarking

Nowadays internet-based banking is getting popularity because of its several advantages, such as ease of operation and virtual monetary activities, i.e., client´s physical presence at different bank locations is no more required. However, because of scarcity of accessibility at different locations, cost, and slow speed, number of people using internet communication is a small percentage of the mobile phone users, especially in the developing countries. Moreover, security in internet-based banking is still a major concern. Most of the financial institutions have their own domain and offer web-based transaction facilities. In this paper, we propose a scheme to utilize the internet based existing banking facility via short message service (SMS) available in mobile phone technology without having the internet connection. In view of ensuring a high level of security, we introduce two-level security scheme: voice verification and digital watermarking.