On the performance of RSA in virtual banking

The Internet is our gateways to millions of banking institutions. As banking institutions provide more services and transactions online, security becomes a necessity. Security issues in virtual banking often include questions of adopting universally accepted minimum technology standards for access control, minimum key length used in the encryption algorithms, firewalls, digital certificates and signatures etc. In India, many financial institutions have set up additional security steps for access to virtual banking, but there is no consistency to the approach adopted. TCP/IP protocol, which is used in the Internet, is insecure in nature because data packets flowing through TCP/IP networks are not normally encrypted. Thus, anyone who interrupts communication between any two systems might have a clear view of the data, passwords and other information flowing in the network. This has ushered in concerns over the security of data and information transfer and privacy. Some people have expressed reservations about holding a virtual banking account due security risks mentioned above. But in reality, Internet security threats are not too much risky when we follow the right steps to make our computers and connections secure. To solve most of the security related concerns in the virtual banking, RSA is used in some form or the other. This paper appraises the performance of RSA in virtual banking.