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Essay / Research Paper Abstract
This 5 page paper considers the technology used in internet banking. The paper begins by considering the development and then looks at current capabilities and the way in which developments are likely to occur in the future. The bibliography cites 7 sources.
Page Count:
5 pages (~225 words per page)
File: TS14_TEintbkg.rtf
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Unformatted sample text from the term paper:
sensitive data is sent over the internet, but the issue of security. This has been a perceived issue by many potential internet banking users as well as a major concern
for the banks themselves. Technology needs to be easy to use, but security enough to protect both the bank and the customer. Internet banking has become more popular, for
example, in the UK in the year 2000 3.5 million customers used the internet to make money transfers, by 2002 this had increased to 7.8 million (Europe Intelligence Wires). This
also confirms a different trend, this the transition form using internet banking as an information source, with transaction undertaken in other ways, to using it as a medium by which
transaction may be made. The key factors are an increased familiarity with the systems as well as increased trust in the systems. This is a pattern that is seen globally,
in countries such as the US, Korea and Brazil expansion has been between 90% and 178% over the last two years, with internet banking growing at a faster rate than
internet shopping (Latin America Telecom 6, M2 Presswire). The development of security has occurred at a rapid rates. Simple measures such as the use of passwords have not been
sufficient to discourage the hackers. The development of SSL protocols helped increase security. This is designed to ensure confidentiality between two applications; the server and the client applications. The SSL
protocol will also serve to authenticate the server and offer this for the client. To be used there is the need for a suitable transport protocol, on the internet this
will be TCP which will facilitate the exchange of information. SSL has the advantage of being application protocol independent, meaning that a higher level protocol may be layer on
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