Mobile Banking Paranoia

Posted by Amy Montague on Thursday 29 November 2018

 

With more than half of us choosing to do our banking online and 90% of us preferring mobile banking apps to physical banks, the way we bank and manage our money is drastically changing.

Mobile banking is easy, at any point in the day we can check our balance and out goings without heading to a physical bank. Consequently, we are more aware of our money than ever and we aren’t the only ones benefitting.

Mobile banking provides companies with more leverage “to focus on new markets, […] overcome infrastructure limitations and improve efficiency”. After all, we don’t have to wait until the weekend to talk to a representative. Instead we can have our issues addressed immediately through a 24/7-hour chatbot and our data recorded. Overall a win-win situation.

 

It's not us, it's them

But it’s not all fun and games, with our banking now integrated into our digital footprint and more of our sensitive data being recorded. Mobile banking has become a gold mine for hackers and an increase in mobile malware instances emphasises this. Already copycat banking apps have been produced to lure unsuspecting customers into freely giving away sensitive information. Even online reviews can be manipulated making fake apps appear more trust worthy and legitimate.

As a mobile app user you can:

  • Set up alerts when money comes out of your bank
  • Apply password or finger print identification
  • Only use trust worthy Wi-Fi sources
  • Install antivirus protection for your phone

  • mb 2Source
  • But don’t worry you’re not alone, mobile banking apps themselves are continuously trying to combat and eradicate any hackers from their system by regulating and updating their apps. However, with more technological advances on the way, these businesses can’t slack. After all as we learn, the hackers learn too.

 

What's the solution? 

Often the past can come back to haunt us and this is true for mobile apps too. Having a deep 'clean' or more specifically a deep analysis of your app will clear out all the bugs and issues that you weren't aware of and perhaps thought were deleted after an update. Requesting the help of an external testing company to examine your security, usability and device coverage from a customers point of view means issues can be identified, without putting your customers security at risk. 

Fix your security and usability issues now by having a quick 10 minute chat with our team. 

Talk to our team now


Topics: Mobile, Strategy, issues, security, digital trends, online banking