Secured and Usable Framework Design for Mobile Financial Service
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Date
2018-11
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Publisher
AAU
Abstract
All systems do not require security at the same level. Sensitive information such
as financial transactions require higher level of security in terms of confidentiality,
integrity and availability. Mobile Financial Service (MFS) is making financial
transaction using mobile devices. Due to the inherent nature of MFS using wireless
technology, it makes the service susceptible to different attacks. Currently, in
Ethiopia mobile financial service is mostly being provided using Unstructured
Supplementary Service Data (USSD) technology. This study first identified many
vulnerabilities and possible attacks that can be made on the current scheme by
reviewing existing literatures. On top of this, analysis of existing MFS technologies
has been made. Accordingly, Subscriber Identification Module (SIM) based
approach is suggested since it is more applicable for the case of Ethiopia. The
newly designed framework is found to be better than the original model in terms
of security (confidentiality and integrity). The study further investigated usability
of the existing and newly proposed models’ user interface with a sample of 37
experts from ethio telecom and Commercial Bank of Ethiopia. Results from the
experiment indicate that the current scheme took statistically significant time to
complete a given task than the proposed model. The current model is preferred by
participants on some of usability parameters such as learnability, satisfaction and
ease of use. Overall, 94.6% of the experts involved on the experiment preferred
the proposed model due to its security (better authentication using One Time PIN
(OTP) code).
Description
Keywords
Usability and Security, USSD, Mobile Banking Security, Secured Framework, Mobile Financial Service