A Conceptual Model of Quantum Cryptography Techniques used to Provide Online Banking Transactions Security
Uma Pratap Madje, Mandaar Bhaskar Pande · 2024
In today’s online environment, a lot of data is created through online transactions and processing, and protecting this data can be difficult. When talking about security and privacy, it takes into account how resistant information and other transaction data is to threats and flaws. Online banking raises three key concerns: user identity, data confidentiality, and the medium or channel over which the information is conveyed. For this reason, the main focus of this study is on the security methods used in online banking that fall within the categories of classical and quantum cryptography in order to combat multiple attacks and problems that may arise when using the service. The study offers a conceptual model for client authentication using the one-time pad (OTP) idea in conjunction with quantum-safe channel technology to boost security and prevent reply attacks. To assess the performance and determine whether the proposed framework operationally feasible, quantum cryptography is being introduced. The performance and speed of financial transaction processing can be increased by combining quantum computing with traditional algorithms for fraud detection. In order to create a safe key exchange with the help of quantum cryptography, the proposed approach takes this into consideration and implements QKD and QRNG.