Authentication Technology With Cryptocalculators

Introduction

Before turning to the consideration of devices called cryptocalculators, consider the following term - Remote banking (RB)

Remote banking service (RBS) is a technology for providing banking services on the basis of orders sent by the client remotely (that is, without his visit to the bank). Most often, computer technologies and telephone networks are used.

Various technical and software technologies are used to authenticate the user. One of such devices is cryptocalculators.

A cryptocatalyst is a device (Card Reader), which is designed to generate a password when entering the Remote Banking system and confirming financial transactions. The password is generated after the chip card is inserted into the device and the PIN code is entered. With this type of authentication, EMV technology is used to authenticate the user and to sign the attributes of the operation using a personal cryptographic device.

EMV is the international standard for operations with bank cards with a chip. The main requirement is the requirement to enter a PIN code for any payment,

Principle of operation of technology

Various means can be used to manage bank accounts, perform various operations: mobile phones, Internet sites, etc.
We are interested in the authentication process for accessing banking systems using cryptocalculators.

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To authenticate the user:

• Insert a bank card into the Crypto-calculator
• Enter the PIN-code of the card to receive a one-time password
• The "Password" appeared on the screen of the Crypto calculator is used for authentication in the banking system.

The authentication process consists in generating a temporary access code (password) on the cryptocalculator using a special application on the card chip. Access to the card is protected by a pin code. For example, authentication similarly occurs when using the CAP technology of MasterCard / VISA payment systems.

CAP (Chip Authentication Program) - software provided by MasterCard, used to authenticate users and transactions in Internet banking.

Cryptocalculators are used not only for authentication, but also for confirming the banking transactions (transactions).

To perform the operation:

• Authenticate to the system using a crypto calculator
• Perform a banking operation in the system.
• Each operation has its own "control code." Enter it into the cryptocatalyst
• The received one time password is used for the banking transaction

Advantages of cryptocalculators

• Increased security. The code for the confirmation of the operation is generated by the client independently using a crypto calculator and a chip card
• There is no need to remember the identifier and the secret code
• Not expensive technology
• Using a one-time password

However, this technology has some disadvantages

• It is necessary to generate a code for each transaction (transaction)

• Dependence on the "superfluous" device.