Internet Banking Two-Factor Authentication using Smartphones


  • Costin Andrei Soare IT&C Security Master Department of Economic Informatics and Cybernetics


OTP, TOTP, HOTP, token, internet banking, two-factor authentication


This paper describes a method of implementing two-factor authentication using smart phones as software tokens. The proposed system will use the mobile phone as a software token and generate unique one time passwords (OTP) that will be used when authenticating to an Internet Banking application. The tokens can also serve as a method of signing online money orders. We will prove in this article the cost efficiency of the proposed architecture for both consumers and companies.

Author Biography

Costin Andrei Soare, IT&C Security Master Department of Economic Informatics and Cybernetics

Bucharest University of Economic Studies, Romania


Anders Moen Hagalisletto, Arne Riiber, Using the mobile phone in two-factor authentication, Proceedings of the 1st International Workshop on Security for Spontaneous Interaction, IWSSI 2007, Innsbruck, Austria, 2007

Fadi Aloul, Syed Zahidi, Two Factor Authentication Using Mobile Phones, Proceedings of the IEEE International Conference on Computer Systems and Applications, pg. 641-644, 2009.

Wikipedia, Time-based One-time Password Algorithm, -based_One-time_Password_Algorithm

RFC 4226, HOTP: An HMAC-Based One-Time Password Algorithm,

Wikipedia, HOTP,

TOTP: Time-based One-time Password Algorithm,

Alecu F., Internet Banking, Informatica Economică, nr. 4 (40), 2006, pp. 104 – 106, ISSN 1453-1305




How to Cite

Soare, C. A. (2012). Internet Banking Two-Factor Authentication using Smartphones. Journal of Mobile, Embedded and Distributed Systems, 4(1), 12-18. Retrieved from