Secure Input Using Tokens for Online Banking
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Solution Overview
Problem
Despite existing efforts, online banking transactions remain vulnerable to cyber threats due to inadequacies in security systems, particularly in multi-factor authentication methods.
Innovation Solution
A computer-implemented method and system that utilizes an offline end-user token generator to produce unique tokens associated with user input options, which are validated by a server computer to securely authenticate and authorize transactions, preventing unauthorized access.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional multi-factor authentication using offline token generating devices is used, then security against cyber attacks is improved, but vulnerabilities and shortcomings remain in the security system
Solution Approach 1:
The authentication process is segmented into distinct phases: presenting multiple user input options, generating unique tokens for each option, validating tokens server-side, and detecting collisions. This segmentation allows each component to be optimized independently and reduces the attack surface for any single vulnerability.
Solution Approach 2:
Unique tokens serve as intermediaries between the end-user's selection and the server's validation. Instead of directly transmitting sensitive authentication data, the system uses tokens as a secure mediator that represents the user's choice without exposing underlying credentials or transaction details.
2Reliability
If unique tokens are generated for each user input option, then transaction security is enhanced, but device complexity increases
Solution Approach 1:
The token generating device serves multiple functions: it presents user input options, generates unique tokens for each option, and enables secure authentication. The server-side validation system also handles multiple tasks including token verification, collision detection, and authentication confirmation. This multi-functionality reduces the need for separate dedicated components.
Solution Approach 2:
The system performs self-validation through server-side token verification and automatic collision detection. The authentication process is self-contained, requiring minimal external intervention or complex configuration, as the token validation logic is embedded within the existing online platform infrastructure.
3Measurement precision
If token validation and collision detection procedures are implemented, then authentication accuracy is improved, but processing time increases
Solution Approach 1:
The system performs preliminary token generation and server-side validation preparation before the actual authentication occurs. By pre-computing expected token values and setting up validation rules in advance, the system minimizes processing time during the critical authentication moment while maintaining high accuracy through pre-established collision detection mechanisms.
Data Source
AI summary
A system and method for secure input using tokens is provided. A computer-implemented method conducted at a server computer includes receiving a transaction confirmation request associated with a transaction. The method includes providing, to an end-user via an online platform, a plurality of user input options associated with the transaction. The method includes receiving, from the end-user via the online platform, a unique token associated with a selected user input option, the unique token having been obtained by the end-user inputting a selection of a user input option into an end-user token generator which is configured to generate the unique token uniquely specifying the selected user input option. The method includes validating the unique token and identifying the selected user input option with which the unique token is associated.