Internet is a network of networks and web is a network of servers. To establish connections and enable communications among them, some protocols which are common are used. Online banking system at present allows only the operations to be performed from a single bank account through a dedicated interface for that purpose. All the operations are to be done and transactions are to be performed using separate interfaces, separate usernames, separate passwords etc. It would be very convenient for any user if he/she could operate multiple bank accounts using a single login, single interface, single password. Then the question of security arises. This paper is going to discuss various issues and challenges in designing an integrated multi-banking solution for operating multiple accounts online named C-MBS. C-MBS allows users to operate multiple bank accounts through a single interface and moreover one-time login is enough for a particular session in which he/she can operate multiple accounts. It provides all the details of the account to the customer or account holder like status of the account, balance available, any payments to be made, expiry of policy premium dates etc. Obviously one of the most important challenges of such system is security. Other issues are authentication, user acceptance, collaboration by banks, Cost effectiveness etc. This paper focuses on addressing the challenges and solutions for C-MBS.

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Common multi-banking solution image based password three factor authentication multi-biometrics