E-banking fraud is a menace that plagues Nigeria on a national scale. People are left to their fates by the governments and banking institutions because they also have fallen victim of the nefarious activities of hackers. Two factor authentication (2FA) is the most popular method adopted today in Nigeria to prevent unauthorized access, however this method has continued to be exploited to the chagrin of all and sundry. This paper thus presents a security architecture utilizing biometrics for enhancing existing two factor authentication approaches. A hybrid system called the biometric password response authenticator (BPRA) was proposed to ensure user device authentication before one-time passwords (OTP) can be generated for concluding initiated transactions. The proposed system involves the use of OTP embedded QR code for OTP generation after user biometric validation. This method of approach to security will address the attack mode of hackers, where they physically steal user devices linked to e-banking channels. The system when implemented will aid in the reduction of the identified risk type discussed in the paper
Key words: Two Factor Authentication, Fraud, E-banking
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