The proposed systematic literature review mainly concerns the security and fraud detection or access control systems for users to transfer money from one account to another. This scheme is manageable in situations where the criminal person uses the credential information of another person to access their account to transfer the money from their account to their own account. This study provides the guidelines and direction for a specific advanced and powerful system to detect criminal operations. Aside from two-factor authentication (2FA) applications and SMS receiving. This literature study has been done systematically based on previous studies concerned with the problem.
This methodology section is done with the help of tools and techniques for conducting research. The systematic literature review adopted from previous studies from the journals of the popular publishers in the area of problem is the step-by-step method in order to explain the proposed review properly. The collection was based on different parameters from five libraries of the publishers IEEE, Springer, Elsevier, Wiley, and Taylor & Francis publishers. The searching queries were used for the extraction of the information. The statistical methods will be used to identify the limitations or difficulties encountered after collecting and testing the data to obtain the desired results.
3.1 SYSTEMATIC ULTRAPURE REVIEW PROCESS
This systematic literature study consists of all the information taken from the suggested publishers and downloaded from their libraries to fulfill the objective regarding the research title and address the research problems. The proposed literature review is followed by specific steps, in which the first one is identifying problems, which indicates the title of the proposed systematic literature review. The next step is creating a research question formulated according to the problem addressed and the research objectives. The query schedule identifies databases from its libraries for searching for related information to address the problems. The results and discussion include the calculated results for the objective-based information tables, and the arguments consist of reviews of the results, the findings, and the conclusion. The finding and conclusion sections have the full meaning of information about our review study, and the conclusion has the final decision on the systematic literature review. The conclusion of the research work must be in accordance with the objectives of the research work. The last paragraph consists of future challenges to provide a new path for the researcher for further forward movement.
In Fig. 1, after the research problem is the identification of the research question or regarding extracting the information, the scheduling of these questioners and modification for search concerning searching libraries in the final is the result, and discussion after then is the identification of conclusion and future work.
3.2 RESEARCH QUESTIONS IDENTIFICATION
The research questions identify the relationship between the current problem with the past that addresses the solution. The research title, the identified research question, is the query for extraction of the relevant information. The research questions are the research queries used to achieve the research objectives.
The research objectives are supposed to be under the domain of the research problem, made up of searching keywords. It is the second of the review study after the confirmation of research objectives. The research question is depended upon the strength of the objective. This study identified four research questions to extract the desired information to achieve the study objective. These research questions have been used to extract the
Information from general specified to the problem to achieve a comprehensive systematic review has shown in Table 1 represent a set of research questions with its detail. Furthermore, these research questions have been divided into Keywords and small titles for searching purposes in different libraries.
Table 1
Review questions FOR MONEY transaction authentication of secure Fin-tech system
| Research Questions | Research Question Objectives |
Q1: | What are the different approaches proposed for user authentication in Fin-Tech secure money transfers to ensure the user is legitimate? | The main objective of this question is to highlight the different approaches used that guaranteed user authentication before money transfers from his account to another account in a secure method. |
Q2 : | What are the features and factors used to develop from taking guarantee secure transaction and user authentication in Fin-Tech? | The objectives here in this question are to identify the different factors that are used for authentication purposes for secure mobile money transfers stepwise after the authentication and confirmation of the legitimation. |
Q3 : | What kind of mechanisms/applications and supporting technologies have been applied in the previous system to avoid fraud in money transactions? | To identify the technologies that are used in support of account holder authentication, including the required applications and suitable mechanisms to avoid the fraud of money transfer using the credential information of the legitimate user. |
Q4 : | What are the requirements that ensure the user's authentication before the money transfer in the promotion of a reliable system to transform the expert system into fin- tech? | To identify the basic requirements to take guarantee about the user authentication except for the availability of credential information using a mobile phone and study the role of expert system in the user authentication process for secure Fin-tech Money transfer. |
3.3 LIBRARY SELECTION FOR INFORMATION EXTRACTION
The selection of the library was based on specific crates defined by research objectives. The articles, have selected from the fool studies have shown in Table I. The popular libraries selected out of global libraries that have the most relevant article are selected for the literature review study as proposed. The selected study pool contains some journal articles and book sections that have some relevant information.
3.4 SEARCH PROCEDURE FROM DIGITAL LIBRARIES
Initially, the most relevant articles that have been studied address current issues. Furthermore, the selected articles are considered for the development, guidance, and direction for the assistance of future work. The proposed research work addresses the current problem that has been searched from five libraries number-wise start IEEE Explore database is used for information exploration from any journal of IEEE Publisher in second is, used science direct for information extraction from any journal of Elsevier Publisher third is Wiley by Wiley online in fourth is Stringer, and in fifth is Tayler and Francis. The extraction of information has been done in order to achieve the study objectives kiss shown in Table2. The proposed SLR study has been obtained on:
-
Searched by titles
-
Searched by Keywords
-
Searched by Queries
-
Criteria for selection
Table 2
Proposed study extraction base on KEYWORDS, titles and query
Publishers | Databases | Queries, Titles, and key words | Resulted | Date |
IEEE | IEEE Explore | Mobile authentication factors for transaction | 91 | 24-July-2022 |
Authentication for secure mobile money transaction | 52 | 26-July-2022 |
secure mobile transaction | 868 | 27-July-2022 |
Mobile-based user authentication techniques or technology for security | 155 | 29-July-2022 |
Elsevier | Science Direct | Mobile authentication factors for money transaction | 691 | 31-July-2022 |
Authentication for secure mobile money transaction | 736 | 01-Aug-2022 |
Fin-tech secure mobile authentication for secure money transfer | 70 | 3-Aug-2022 |
Fin-tech mobile-based user authentication factors or techniques or technology for security | 87 | 4-Aug-2022 |
Springer | Springer online | mobile authentication factors for money transaction | 24 | 8-Aug-2022 |
Authentication for secure mobile money transaction | 23 | 16-Aug-2022 |
secure mobile authentication for secure money transfer | 30 | 18-Aug-2022 |
Fin-tech mobile-based user authentication factors or techniques or technology for security | 24 | 20-Aug-2022 |
Mobile authentication technologies for banking | 87 | 22-Aug-2022 |
Wiley | Wiley online | Authentication factors form money mobile transaction | 482 | 24-Aug-2022 |
Taylor and Francis | T&F Online Library | Factor-based authentication for secure mobile money transaction | 196 | 28-Aug-2022 |
3.3 SEARCHING PROCEDURES
The papers for the proposed literature review have been downloaded from different journals of a publisher using individual Databases of libraries. This study has kinds of literature from different journals, IEEE, Springer, Elsevier, Wiley, Tayler, and Francis. The key term is the use of Specific topic queries and keywords used for extraction of the information based on criteria in which inclusion and exclusion are also concerns. The obtained result from the searched libraries is shown in Table I filtered by years from 2013 to 2022. also searched only journal articles and some books.
3.4 SEARCHING FOR ARTICLES BY TITLE
The title of an article represents the main problem. It's most important to identify the specific groups of titles for searching the proposed literature review in which the information addressed the problem, the issues, techniques, and its solution. The implementation of the title is applied where the key world result is too low.
3.5 SEARCHING OF ARTICLES BY Key words Keywords, mostly, are also most words that you enter into the journal database to search the article in a specific domain of knowledge. It's the representation of the original concepts related to your concern topic. The right keyword is vital for searching for a piece of specific information that might be impossible to reach the goals without the perfect keywords in multiple steps of the process to identify the key word for the main concept of our related problems with the help of synonyms and antonyms that could also be used to describe the problem.
3.6 Making Queries for searching
The searching query is the combination of key words in order to specify the desired result to be obtained. The query was entered with the intent of finding relevant articles having information address the problem. The queries in Table.1 is the combination of the key world from generalize and special search using 'OR' and 'AND' operation.
3.7 INCLUSION/EXCLUSION CRITERIA
The inclusion/exclusion was based on the information relevancy in which the implementation of the filter during a search is a concern. The downloaded article is containing in a range of 10 years from 2013 to 2022, including journal articles and books where the conference papers and most past papers are excluded by filtration techniques to obtain the research objectives based on identified keywords, titles, and queries searched in the title, abstract, introduction methodologies, analysis, results, and conclusion as shown in Table 3.
Table 3
Relevant material selection from the downloaded publishers
Publishers | Database | Pages | Results (R) | Selected | Relevant | H. Relevant | Final Selection |
IEEE | IEEE Explorer | 1–10 | 1166 | 464 | 152 | 73 | 34 |
Elsevier | Science Direct | 1–10 | 1584 | 382 | 9 | 45 | 28 |
Wiley | Wiley search | 1–10 | 482 | 70 | 35 | 10 | 8 |
Springer | Stringer search | 1–10 | 188 | 90 | 40 | 27 | 15 |
Taylor and Francis | Google Scholar | 1–10 | 196 | 70 | 30 | 15 | 7 |
Total | 1–50 | 4581 | 1104 | 266 | 187 | 92 |
3.8 SELECTED ARTICLES FOR REVIEW
the collection of research articles relevant to the topic is classified into publishers with references for indication of its publisher. There are five selected libraries taken from Table II, as shown in Table III. These are the most popular and the much-reviewed digital libraries, where many of the researchers tried to publish their articles with novelty addresses to the problem. The sample selected papers out of the population is 92 [12–103] article that is selected after filtration of relevancy for analysis. The selected papers, based on the desired criteria, address the objectives. The pieces of information are extracted from the title, abstract, introduction, result, conclusion, and direction of the study using five libraries IEEE explorer, science direct, Wiley online library, Springer search library, and Taylor and Francis online search library for the above publisher shown in Table 4 in which 34 article are downloaded from IEEE 28 from Elsevier, 8 from Wiley, 15 from springer, and 7from Taylor and Francis.
Table 4
Year-wise segregation of relevant materials corresponding to the problem for analysis
Publishers | References | Total |
IEEE | [12, 14, 18, 19, 22–24, 26, 28, 30, 31, 41, 45–53, 56, 58, 60, 75–77, 87, 90, 91, 101] | 31 |
Elsvier | [15, 16, 29, 32, 34, 35, 37, 38, 42, 57, 59, 63, 64, 67, 68, 70–72, 74, 88, 89, 92–97, 99, 102, 103] | 30 |
Wiley | [13, 21, 36, 43, 73, 82–85] | 9 |
Springer | [25, 39, 44, 55, 61, 62, 65, 69, 78–81, 86, 98, 100] | 15 |
Tailer and Frances | [17, 20, 27, 33, 40, 54, 66] | 7 |
3.9 CLASIFICATIONS OF PAPERS
Publishers classify the collection of research articles relevant to the topic with the collection of research articles, which are classified in publishers with its references for indication of its publisher. There are five selected libraries taken from Table III, as shown in Table VI. These are the most popular for advanced searchable and mostly reviewable digital libraries, where most of the researcher's aim is to publish articles about technologies enhancement for the future with some novelty address to the problem. The selected articles are 92 out of the population have the great idea for user authentication and transaction security.
Filtration of relevancy for analysis. The selected papers were based on defined criteria to address the objectives. The information has extracted to match with title, abstract, introduction, result, conclusion, and direction of the study, using five libraries IEEE explorer, science direct, Wiley online library, Springer search library, and Taylor and Francis online search library for the above publisher shown in Table 5 in which 364 article is downloaded thirty-four from IEEE, twenty-eight from Elsevier, eight from Wiley, fifteen from springer, and seven from Taylor and Francis which are the most popular publishers.
Table 5
The collected articles from journals and books with respect its the year of publication
Year | Journals | Books | Conferences | No. of Articles |
2013 | [40, 66] | | | 2 |
2014 | [14, 30, 45] | | | 3 |
2015 | [15, 18, 27, 46, 48, 53, 62, 80] | | | 8 |
2016 | [25, 26, 29, 65, 74, 79, 87, 91] | | | 8 |
2017 | [16, 31, 43, 49, 57, 76, 86, 100] | | | 8 |
2018 | [12, 17, 28, 42, 47, 50, 56, 63, 69, 97] | | | 10 |
2019 | [19, 20, 24, 32, 35, 55, 60, 68, 75, 77, 84, 85, 96, 101, 102] | | | 15 |
2020 | [21, 34, 36–38, 41, 51, 52, 58, 59, 61, 64, 78, 82, 89, 93, 103] | | [104] | 18 |
2021 | [13, 54, 70, 71, 73, 90, 94, 99] | [44] | [105] | 10 |
2022 | [22, 23, 33, 39, 67, 72, 81, 83, 88, 92, 95, 98] | | | 12 |
| Total | | 92 |
Table 6
The research question-based objectives identification
Category | References | q1 | q2 | q3 | q4 | q5 | Total |
C1 | [13–25, 27–29, 31–37, 39, 42, 43, 62–65, 79, 88] | 1 | 1 | 1 | 1 | 0 | 4 |
C2 | [53] | 1 | 0 | 1 | 1 | 0 | 3 |
C3 | [66, 81] | 1 | 1 | 0 | 1 | 0 | 3 |
C4 | [12, 99, 100] | 0 | 1 | 1 | 1 | 0 | 3 |
C5 | [26, 30, 38, 40, 45, 47–52, 54, 56, 57, 59–61, 67, 69, 70, 72–77, 80, 90–92, 94, 95, 97, 101] | 1 | 0 | 0 | 1 | 0 | 2 |
C6 | [41, 46, 55, 57, 58, 68, 71, 78, 82–87, 89, 93, 96] | 1 | 0 | 0 | 0 | 0 | 1 |
C7 | [44, 102] | 0 | 0 | 0 | 1 | 0 | 1 |
C8 | [98, 103] | 0 | 0 | 0 | 1 | 1 | 2 |
Figure 3 represents the trend of Fin-Tech security authentication issues. The above Fig. 3 shows the number of journal articles, and books to the year of publication. The number of articles tobe analyses year-wise taken from Table 6, which started from 2013 to 2022. The selected articles three from 2013 Three from 2014, is seven is, in 2015 is eight, 2016, eight from 2017, twelve from 2018, thirteen from 2019 is fifteen, from 2020, eleven from 2021 with one book, twelve from 2022. The total articles are 92 containing relevant information concerning the literature review that addresses the problems
The above Fig. 4. Represent fool of study that consists of 1 book and 92 journal articles for analysis in which book is downloaded from springer published in year of 2021, rest of all the articles are journals in which 31 from IEEE ,30 from Elsevier ,7 from Taylor and Francis ,14 from springer, and 9 from Wiley.
3.10 OBJECTIVES BASE DATA EXTRACTION FOR DECISION MAKING
The purpose of this literature study was to collect the Information about Fin-Tech security base on defined Objectives for indication of current and future challenges to the researcher and also awareness about the trend of technologies in finch for secure transaction, for this purpose the collected information regarding to the research questioners are in Table 7:
q1: Factors based user Authentication
q2: Technology has been used for Fin-tech security purpose
q3: Authentication for secure mobile money transition
q4: The obtained is supporting the authentication of user against any fraud in transaction
q5: A.I. and machine supporting Fin-tech sec
Table 7
The research question-based objectives identification
Category | References | q1 | q2 | q3 | q4 | q5 | Total |
C1 | [13–25, 27–29, 31–37, 39, 42, 43, 62–65, 79, 88] | 1 | 1 | 1 | 1 | 0 | 4 |
C2 | [53] | 1 | 0 | 1 | 1 | 0 | 3 |
C3 | [66, 81] | 1 | 1 | 0 | 1 | 0 | 3 |
C4 | [12, 99, 100] | 0 | 1 | 1 | 1 | 0 | 3 |
C5 | [26, 30, 38, 40, 45, 47–52, 54, 56, 57, 59–61, 67, 69, 70, 72–77, 80, 90–92, 94, 95, 97, 101] | 1 | 0 | 0 | 1 | 0 | 2 |
C6 | [41, 46, 55, 57, 58, 68, 71, 78, 82–87, 89, 93, 96] | 1 | 0 | 0 | 0 | 0 | 1 |
C7 | [44, 102] | 0 | 0 | 0 | 1 | 0 | 1 |
C8 | [98, 103] | 0 | 0 | 0 | 1 | 1 | 2 |
Figure 5 shows all the cited articles publisher-wise with-it years and the number of objectives obeyed according to the predefined criteria. The selected papers consist of a book section or journal article) downloaded from a digital library using their online search engine. The selected libraries are
(IEEE, Springer, ScienceDirect, Wiley Online, and Taylor and Francis are at the top of the search list. Most of the researchers are trying to identify the current problem with the help of literature. The collected relevant papers are from the session 2013 to 2022, and they cover all of the recent problems and their solutions in various ways from 2013 to The present. Figure 5 has been divided into tracks and sectors, where the first track from the center shows the publisher, which in the sectors consists of IEEE, Springer, Elsevier, Taylor & Francis, and Wiley. The second track consists of references against that publisher and objectives, whereas the third track represents references in the numbers. The last track represents the article's year of publication against the publisher, objectives, and references. Whereas in the sector, it shows the year of publication, from 2013 to 2022. Most of the references are selected from relevant papers in the proposed systematic literature review article. This shows the level of relevancy of the problem with its relevant solution based on different technologies used to address it.
Table 8
Supporting technology for authentication feature for secure transaction
Ref: | Problems | Techniques | Challenges | Results |
[12] | In insecure public communication networks, mobile payments | Mobile payments through Certificate Less cryptographic primitives are secure based on a random oracle model | Security for online transaction | Reasonable and user-acceptable scheme for online transactions |
[13] | Multi factors security evaluation system for mobile payments, | Machine Learning Approach | Payment fraud detection which ensures a safe and secure mobile payment platform | The consequences are enhancement of security and reliability. |
[14] | Security in banking due to the lack of trust | Tip ring ring sleeve (TRRS) Connector, | environment to secure transactions | strong security of authentication for transaction |
[15] | Transaction security | visual cryptographic scheme | The implementation of secure payment based on technology to provide guarantees for mobile-based 2FA | security of our scheme against various attacks |
[16] | The model could protect the stolen credit card used by someone | Online Transaction Algorithm | The issue about credit cart protection is the prevention of thieves from accessing without a valid code to prevent the stolen card information from making purchases. | This model protects the stolen card |
[17] | Reestablishing and maintaining customer trust in mobile money services Improving Mobile Money Security | Biometric for Authentication | To authenticate legitimate users, | 3% enhancement authentication for a further level of security |
[18] | Security attacks | For authentication, Homomorphic MAC | Approaches to avoid the presented attack | Enhancement in attack resistance |
[19] | Unsecure Mobile payment | Near field communication technology mobile secure transaction scheme | Secure mobile transaction | Mobile secure payment |
[20] | Authentication for secure transaction | One-time password (OTP), GPS, Identification Number (PIN) | fraudsters prevention from performing online transactions | At the maximum rate of detection rate of the proposed system |
[21] | OTP schemes vulnerabilities for classical execution | Scheme for (QOTP) Quantum OTP with biometrics. | The trusted third-party holders take the user's biometric data to carries out authentication | Secured transactions based on control of no cloning and quantum cryptography principles. |
[22] | User authentication | Decentralization of fraud-proof roaming block chain-based authentication framework | Roaming authentication ensures the Legitimate users allow to access the network securely. | Security feature-based acceptable authentication delay. |
[23] | Mobile Transaction security | The Certificate less signature (CLS) scheme | Secure transaction security | Based on the improved CLS scheme, secured mobile transaction |
[24] | User authentication in a mobile environment | Biometrics, Dynamic OTP | User authentication | Provided authentication factors to the android platform for user authentication |
[25] | Low level of recognition success rate | Finger Vein Technology | Required the development of a secure system for information security | Protected the information based on finger and vein solution |
[26] | Authentication | Message Authentication Codes, artificial-noise-aided MACs | The resistance of key recovery attack | Authentication accuracy increased |
[27] | Authentication for authorized users of financial systems | Message Service (SMS) text messages | Reducing identity theft | Security, especially in the financial industry. |
[28] | Transaction Authentication | Block chain, private key (Seed Key) | Transaction authentication in blockchain technology. | Theoretical support of block chain application |
[29] | Transaction security | Biometric, Finger scene, Eye iris, and palm print use the Rivest Cipher (RC4), discrete wavelet Transform (DWT) algorithms. | ensure hustle-free transactions | 80% authentication can be possible with a one-time password. |
[30] | to be authenticated must also be encrypted | Novel techniques for authenticating short encrypted messages | Confidentiality and integrity are required in a message system | to utilize the security that the encryption algorithm can provide to design more efficient authentication |
[31] | Secure Mobile payment | Near-field communication (NFC) technology | unknown payment has received recent attention | The best way to secure mobile payment |
[32] | Authentication for mobile transaction | Biometric, Fingerprint, and Face recognition | Money security and privacy | Easy, Fast, and secure transaction |
[33] | customer authentication | CNN, Region-based convolutional neural networks (RCNN), and Deep face are Deep Learning Algorithm | Image is fake or real, with image chain for OTP | The accuracy of this experiment is 75.35, |
[34] | Identity Problem | Authenticated key agreement (AKA), Certificate less AKA, Public key Infrastructure (PKI), | mitigate the vulnerabilities above | Blockchain-based Wireless Body Area Network (WBAN) security |
[35] | Continuous authentication | Behavioral biometrics, sensors, accelerometer, gyroscope, magnetometer, and touchscreen | Banking application with continuous authentication | Secured authentication |
[36] | Authentication | Biometric cryptography utilizes, for authentication quantum entanglement property to generate OTP (QOTP) | Man-in-the-middle prevention and identification of vulnerabilities | Resisted the attack |
[37] | Financial security | Cryptography and network protocols | Fraud, extortion, money laundering, and financing activities protection | Enhancement in Financial security |
[38] | Authentication for online banking | Multi factors Authentication | Authentication for banking | Multifactor authentication is accuracy is greater |
[39] | Mobile base secure payments | Biometric, Payment services directive (PSD2) | Transaction security against the risk | higher perception of authentication risk |
[40] | Mobile-based banking authenticating | Graphical OTP | Problem by suggesting Two-Factor authentication | Digital Certificate from banks enhanced the security |
[41] | Authentication | wireless sensor network (WSN) | Factor-based authentication | Enhancement in authentication |
[42] | Authentication security for mobile-based transactions | PIN and fingerprint biometrics authentication | Authentication for payment | Biometrics authentication is a concern and significant for individual security |
[43] | Transaction security | SMS Security based on elliptic curve cryptography | In a global communication system, the SMS is not secure | Security framework for SMS banking |
[44] | Transaction vulnerabilities | Nil | Cyber security | Security information's |
The above Table 8 consists of information regarding prescribed objectives to address the challenges, opportunities, and technological concerns of the problem. It satisfied research question 1, where all the required information is desired using special queries according to question 1. This literature review highlighted the authentication for secure transactions. The challenges, technologies, and their results in order to secure the financial transaction and mitigate the risk. 21 articles are the most concerned with our problem and address the security authentication problem in the money transaction, and the rest of others articles consist of technological approaches that support Fin-tech transaction security. Table 9 discusses the technologies that play the most vital role in user authentication and provide supportive technologies for money transactions in financial technologies. The development of vast technologies increases the vulnerabilities in financial transactions.
Table 9
The supporting technologies used in the articles for proposed system
Feature | Technology used | Functions | References |
Biometric | Finger drawn signatures on touch devices sensors, Electro Cardio gram, phono cardio graph, convolutional neural network (CNN), Electroencephalogram Fast Identity Online Swipe-V-Lock Al m print-based key generation system voice recognition technology | Common spatial patterns (CSP) values, electrocardiogram (ECG) data for authentication, and conventional biometric methods were employed as the major elements to train the model. A classification method called linear discriminant analysis (LDA) was applied for a specific collection of user data. The server-based authentication approach uses the distributed management of compliance-based biometric data. Viable methods for banking security and authentication. Using a backdrop image to swipe the smartphone screen. Behavioral biometrics can be used to make mobile payments more secure, improve usability, and stop fraud. When using biometrics for two-factor authentication, OTP is employed to strengthen the security of weak passwords. Information security now includes promising technologies like cryptology and biometrics. | [45–66] |
Password | Graphical passwords (G.P.s) Smartwatch worn | In order to further enhance the security of Fin-Tech applications, the route map is a map- and route-based G.P. Wrist movements are made by the cardholder while inputting a PIN or password, which is employed as an authentication factor. Strategies to encourage the usage of safe passwords are examined, and their implications are discussed. Users construct passwords according to trends and patterns. It thoroughly examines how easily these real-world passwords may be guessed. Information is sent to a password manager. | [67–72] |
OTP | Image-based password System (IBPS) Time-based one-time password (TOTP) Embedded hardware OTP Linear Congruential Generator (LCG) Authentication code by hash algorithm mobile identity Authentication mechanism | The second element for robust authentication after the password is OTP. To properly safeguard the system from unwanted third-party auditors, the system uses an automated blocker protocol (ABP) and time-based one-time password (TOTP) for cloud user verification. For instance, OTP is produced on the server and delivered to clients by SMS. Embedded hardware OTP generating device using dual tone multi-frequency (DTMF) signals for remote requests The OTP produced by LCG is not repeating, and it is difficult to predict the randomness. OTP is crucial for safe banking financial transactions. A more secure authentication method is the one-time password (OTP). It ensures that both entities are genuine throughout a single session. | [73–79] |
Q.R. Code | Digital watermarking-a data Hiding technique The bank's SPAQ website AES Encryption algorithm | VQ-compressed code, which is utilized for picture authentication as well as print-and-scan, visual cryptography, code, and one-time PIN, is a major tool (OTP). For safe financial transfers, a two-factor authentication protocol is used for a time-based one-time password (TOTP). Defend against phishing attacks. An extra layer of protection will be provided through the public key infrastructure (PKI)-maintained, quick response (Q.R.) code security mechanism. Here, a powerful authentication is carried out utilizing Q.R. matrix barcodes, which have a large storage capacity for both plain-text and encrypted data. Financial services are more secure using the integrated Q.R. code in the Adhere card and biometric authentication. W codes protect private data. High levels of convenience and security are achieved with visual authentication techniques. | [80–91] |
MAC and IMEI | Channel State Information A secure Hash Algorithm (SHA) is a cryptographic hashing algorithm Address Resolution Protocol (ARP) International Mobile Equipment Identity | Techniques of device identification employ this technology. The suggested technique can increase security in terms of confidentiality duration and secrecy capability. The international mobile equipment identity (IMEI) uses the backstage covert automatic identifying form of authentication. Algorithms for hybrid encryption algorithm (HEA) | [92–97] |
A.I. and Machine Learning | Generalized algorithm A.I. and machine learning techniques | Future prospects of artificial intelligence (A.I.) in security, outstanding challenges that require additional A.I. investigation, and machine learning techniques to identify fraudulent bank card transactions. One of the known methods for identifying credit card fraud has been created with the use of behavior analysis and machine learning techniques. It has been designed to detect fraudulent transactions using reinforcement learning, supervised learning, unsupervised learning, and parametric/non-parametric methods. Online fraud in e-Commerce and financial transactions is prevented and controlled using A.I. and machine learning approaches. Approaches to authentication based on machine learning. | [98–103] |
The above Table VIII represents features with its supportive technologies used in the previous study. These supportive technologies work for user authentication purposes which is desirable for Fin-tech secure money transactions. User authentication is the first step for financial security in the above Table VIII show all these
features that user authentication technologies, which the biometric, password, OTP, QR code, MAC address and IMEI, and artificial intelligence (A.I.) and machine learning are superior for the authentication process. From the authentication perspective, the role of IMEI / MAC address and A.I. is that a user can restrict the devices as personal through which he wants to transaction instead of all the devices through the application can be done by assigning the privileges to only personal devices if someone takes your information that is required he will not be able to use your account where the A.I. will learn and store the information tracks for experience in fraud detection. The IEMI and Mac address as a private key can address the security by successive interference cancellation (SIC) scheme in the dedication of smartphones [106]
These authentication technologies are generally implemented by all the different financial Organizations for specific operations. A.I. monitor the data to calculate the risk score based on previous activities to make a decision on whether the transaction is genuine or fraudulent [107]. A.I. provides a high degree of security with its feature for a secure transaction using algorithms for clarification and verification [108]. It is the monitoring of chat and communication that is helpful in keeping track [109]. It is useful in cyber security for authentication [110].To create geographically dispersed data and create a history model provenance and lineage tracking trusted A.I. [111].
Figure 6 represents the use case diagram to show the steps in baking finance transactions that make it easy for the operational team to fix the vulnerabilities in the fin-tech system. The user requires confidential information to log in to the account. Furthermore, strong security is the second authentication requirement for transaction defense upon the devices to get the biometric information. In the first step, enter the username and password, and the system verifies the username password if it corrects the user login to the system. If one of these is incorrect, the system denies accessing the account after the login the user authorized for the transaction. Still, in this case, the login user may be fake, so during the transaction, the system asks for the third factor of authentication within additional of a one-time password, if the required authentication factor is a match to the bio matric information to the account holder the transaction will be done otherwise the process will be canceled. The system will be kept store the track of this operation for further A.I. implementation on this operation for risk detection.
The above figure represents the functional scenario in which the fraudsters tried to get confidential information in case of success during the transaction. The role of multifactor authentication for authentication has shown in Fig. 7 .The small alphabets 'a’ represents the request message for confidential information in case of 'b' is the confidential information obtained by technical approach, 'c' is the implementation of that confidential information for a transaction, ‘d’ is the transaction authentication in the form of ‘g’, 'h' are the, e is the trying for authentication, 'I' is for matching the authentication, 'j' is the acknowledgment for validation and 'f' represent the final decision may transaction performing or cancelation.