Modeling and Verification of Payment System in E-Banking

Formal modeling and verification techniques have been used to ensure the reliability and accuracy of multiple systems to be verified. In contrast to ordinary testing techniques which exhibit the presence of flaws and errors in a system, formal methods prove their absence. Electronic banking (e-banking) services have become very popular with the escalating development in the information and communication technology. Due to the presence of complexity, an e-banking system requires an efficient security model. One important approach to ensure the reliability and security of the e-banking system is through the use of formal methodologies. This study explores the opportunity of modeling interbank payment system through a case study of 1-link Automated Teller Machine (ATM). A generic verification system SPIN (Simple Promela Interpreter) is, therefore, employed to model and then to verify the integrity and security of payment system in e-banking. Linear temporal logic formulas are further summarized to assure the security of the e-banking system. The principal conclusion of the work includes a complete procedure of verification and modeling of the payment system in 1-link ATMs.

@article{Obaid2017,
  title     = {Modeling and Verification of Payment System 
in E-Banking},
  journal   = {International Journal of Advanced Computer Science and Applications},
  volume    = {8},
  number    = {8},
  year      = {2017},
  publisher = {The Science and Information Organization},
  author    = {Iqra Obaid and Syed Asad Raza Kazmi and Awais Qasim},
  doi       = {10.14569/IJACSA.2017.080825},
  url       = {https://doi.org/10.14569/IJACSA.2017.080825}
}