Paper Contents
Abstract
E-banking services have grown rapidly, transforming the financial sector by offering convenience and accessibility. However, this research in growth also brings significant security challenges that need immediate attention to maintain trust and safety. As technology advances, especially in cryptanalysis and computing power, traditional security measures are becoming inadequate. It proposes a modified version of the Advanced Encryption Standard (AES) and introduces a new security measure called the Confidence Building Metric (CBM). However, this growth has brought with it significant security challenges that must be addressed swiftly to ensure continued trust and safety. As technological advancements continue at a brisk pace, particularly in the fields of cryptanalysis and computing capabilities, traditional security measures are becoming increasingly inadequate. One of the key recommendations of this paper is the adoption and implementation of open- source applications that follow international standards. Open-source solutions based analysis offer several advantages over proprietary systems.. This paper delves into the critical need for transitioning to robust encryption based and cryptographic algorithms within the fintech sector, emphasizing the importance of adopting open-source applications that adhere to international standards. Moreover, this investigation introduces an innovative modification to the Advanced Encryption Standard (AES) and proposes an additional layer of security through the Confidence Building Metric (CBM).
Copyright
Copyright © 2024 Bharat Bhushan Dhalla, Rahul. This is an open access article distributed under the Creative Commons Attribution License.
