Secured cellular banking protocols using virtual internet with digital watermarking

In this paper, a GSM based cellular communication scheme with encompassing security is proposed for electronic banking. In order to demonstrate the detailed steps of the scheme in a quick but convenient manner, Warnier-Orr representation of the proposed protocols is used. The proposed SMS based mobile banking scheme provides opportunity to every client of a financial institution to use modern facilities available nowadays via internet banking. The key advantage of our scheme is that the users do not need any sophisticated cellular phone or internet connectivity within the mobile handset. They can get major services, like balance enquiry, balance transfer between authenticated customers, and bill payment without going to the bank physically and saving the precious time. Security at the level of internet based communication between the mobile server and the banking server, which is beyond the control of the clients, is a crucial issue to be handled. In view of providing a high level of security, in addition to voice authentication, the digital audio watermarking technique is employed. There is no doubt that such a secured but easy to handle system can attract clients towards e-banking, especially in developing countries.