Internet banking is changing the banking industry, having the major effects on banking relationships. Banking is now no longer confined to the branches were one has to approach the branch in person, to withdraw cash or deposit a cheque or request a statement of accounts. In true Internet banking, any inquiry or transaction is processed online without any reference to the branch at any time. The net banking, thus, now is more of a norm rather than an exception in many developed countries due to the fact that it is the cheapest way of providing banking services.

Apart from the many advantages of electronic banking has certain security problems. The challenges that oppose electronic banking are the concerns of security and privacy of information. The current focus of security of information transfer is on the session layer protocols and the flaws in end to end computing. A secure of this transaction requires a secure protocol to communicate over untrusted channels and a trusted code at both endpoints. The solution addresses the use of secure protocols because trusted hannels don't really exist in most of the environment, especially since we are dealing with linking to the average consumers.