Financial security protocol and service model for joint account banking transaction

Abstract

Under todays’ popular financial services via Internet banking process, this paper studies on the banking procedures and security protocols that aims to allow banking transactions of joint accounts to proceed within cyberspace. We propose the security protocol design of joint account banking transaction based on Diffie–Hellman protocol and station-to-station protocol. Regardless of whether members of the joint account are in the same bank or other banks, our proposed protocol is verified to be processed according to the transactional operation. This paper shows safety verification against possible threats. Finally, we suggest two types of financial service model for joint accounts in the both cases of a singlebank and multiple-banks joint account.