The Indian Internet Banking Journey

About Internet Banking Contd...

In a typical Internet banking transaction, customers' requests for online banking information are passed on from Web server to the bank's Internet banking server through the WWW interface. These requests pass through a firewall² before they reach the Internet banking server. Due to the use of SSL technology,³ only authenticated requests reach the Internet banking server. The customer information database is stored on a bank's server, which is protected by the use of various security tools in addition to the firewall technology.

The WWW interface is the only media of communication with the Internet banking server and Internet banking server is the only media of communication with the customer database, thus ensuring the safety of operation and customer data. When the customer requests reach the Internet banking server it passes the requests to the bank server hoarding customer database. The database provides the required information to the Internet banking server, which is in turn passed on to the web server, through the firewall, from where the customer is able to access it (Refer Figure I). This sort of architecture, known as the 'three-tiered architecture' (comprising of a web server, Internet banking server and customer database protected by firewalls) creates a controlled environment, which allows quick incorporation of Internet security technologies.

A security analyzer constantly monitors login attempts and recognizes failures that could indicate a possible unauthorized attempt to log into an account.

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2] A system designed to prevent unauthorized access to or from a private network. Firewalls can be implemented in both hardware and software, or a combination of both. Firewalls are frequently used to prevent unauthorized Internet users from accessing private networks connected to the Internet, especially intranets. All messages that enter or leave the Intranet pass through the firewall, which examines each message and blocks those that do not meet the specified security criteria.

3] Data security between the customer's web server and the bank's web server is handled through a security protocol called Secure Sockets Layer (SSL). SSL provides data encryption, data integrity and server authentication for an Internet connection.

Case Details

Case Code : ITSY003
Themes: EVA Financial concepts
Case Length : 5 Pages
Period : 1997-2001
Organization : L&T
Pub Date : 2002
Teaching Note : Available
Countries : India
Industry : Construction - Building Materials & Equipment, Financial Services

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