A Secure Multi-Factor Authentication Framework Using Efficient ChaMac Algorithm

With the increased availability of mobile phones, the number of mobile bank transactions has burgeoned, resulting in a corresponding surge in cyber threats. As these threats evolve, traditional authentication methods often falter in fortifying sensitive financial transactions. To tackle this challenge, a robust Five-Factor Authentication (5FA) framework is proposed, integrating login-passwords, one-time passwords (OTPs), security questions, face recognition, and speech recognition. Enhancing data security, the efficient and robust ChaMac Algorithm is employed, surpassing traditional encryption in speed and efficiency. This framework employs a dynamic authentication mechanism based on transaction limits ensuring a balanced approach to security and user experience. By combining 5FA with ChaMac encryption, the proposed framework strengthens transactional security, reducing unauthorized access risks. The research highlights ChaMac’s superior speed, being 27.08% faster than AES and 83.94% faster than RSA. It is also resilient against bruteforce attacks and maintains data integrity during Man-in-the-Middle attacks, ideal for real-time financial transactions.