Develop a Secure Online Banking System with 2FA

Online banking platforms are attractive targets for cyberattacks, making robust security measures essential. Password-only authentication is insufficient in today's world where phishing and credential leaks are common. Two-Factor Authentication (2FA) provides an extra security layer, ensuring safe access and protection of user accounts and financial transactions.

This system incorporates multi-layered authentication mechanisms, such as password + OTP/email code, biometric authentication (optional), and encrypted transaction processing. Role-based access ensures different functionalities for users and admins, while transaction history tracking, fraud monitoring, and account alerts boost overall security and transparency.

Users log in using their credentials and complete a second authentication step using an OTP sent to their phone or email. Once authenticated, they can perform banking operations such as fund transfers, transaction history viewing, and account management. All activities are logged and monitored for security breaches, and users receive instant alerts for critical transactions or unusual behavior.

• User login with password and OTP-based two-factor authentication.
• End-to-end encrypted communication between client and server using HTTPS and TLS.
• Role-based dashboard for users (customers) and admins (bank staff).
• Real-time fraud detection algorithms monitor transaction anomalies.
• Push notifications and email alerts for high-risk activities.

• Node.js Authentication Best Practices
• Twilio API for OTP Authentication
• OWASP Guidelines for Secure Applications