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.