5 Reasons Why Mobile Applications Are Now Safe For Banking Transactions
More and more individuals are using the smart phone to download data and information or communicate with others through the form of applications. Banking institutes are also using mobile banking apps, especially mobile banking apps for android and iphone. In this article, we give you reasons why these phone apps are safe for banking transactions
1. Secured Network
The mobile phone apps always use a secured network, especially when conducting any financial transaction or downloading any sensitive information. Normally, these mobile banking apps for android and iPhone detect the network before they proceed with transaction. If you are using public networks like the Wi- Fi in the coffee shop or in a hotel, it will first check for the security on the network. If there are any security issues or any attempt from outside authorization, an alert will be sent or the network will be immediately blocked. Thus in this way, your data and financial transactions are protected.
2. Virtual Keyboard
Many hackers or unauthorized users, use software programs known as key logger where each stroke of the keyboard is detected and recorded, making passwords easily duplicated. However, since most use smart phones use a virtual keyboard, so this problem is eliminated. However, few selected models use keypads to type in details and information. For these models, the apps provide a separate virtual keyboard to eliminate unauthorized recording of data which can be used to comprise your account.
3. Random Passwords
To prevent passwords from being easily copied or hacked, these mobile banking apps for android and iphone specify a certain format of passwords for log in. This includes capital letters, characters and numbers and other odd and random combinations. In this way, it is tough to replicate the password. Also it ensures that the password is changes every month or every six months to ensure full protection of your account.
4. Immediate Alerts
These apps ensure that with any transfer of data or transaction you make, you are immediately alerted and aware of it. Since this app is connected to your account as well as your mobile phone number any changes or login into your account will be recorded, with an alert immediately sent. Therefore, if an unauthorized user tries to gain access into your account, you will be immediately notified and can contact the bank before your data or finance is compromised
5. Constant Updates
As the technology is evolving, so are the viruses, softwares and OS of the phones. Each update is designed to protect against new and upcoming viruses and malicious software thus prevent private and crucial information from being compromised. These apps ensure that the software is updates to the latest version to prevent these malicious threats from accessing your account or data in any manner.
1. Secured Network
The mobile phone apps always use a secured network, especially when conducting any financial transaction or downloading any sensitive information. Normally, these mobile banking apps for android and iPhone detect the network before they proceed with transaction. If you are using public networks like the Wi- Fi in the coffee shop or in a hotel, it will first check for the security on the network. If there are any security issues or any attempt from outside authorization, an alert will be sent or the network will be immediately blocked. Thus in this way, your data and financial transactions are protected.
2. Virtual Keyboard
Many hackers or unauthorized users, use software programs known as key logger where each stroke of the keyboard is detected and recorded, making passwords easily duplicated. However, since most use smart phones use a virtual keyboard, so this problem is eliminated. However, few selected models use keypads to type in details and information. For these models, the apps provide a separate virtual keyboard to eliminate unauthorized recording of data which can be used to comprise your account.
3. Random Passwords
To prevent passwords from being easily copied or hacked, these mobile banking apps for android and iphone specify a certain format of passwords for log in. This includes capital letters, characters and numbers and other odd and random combinations. In this way, it is tough to replicate the password. Also it ensures that the password is changes every month or every six months to ensure full protection of your account.
4. Immediate Alerts
These apps ensure that with any transfer of data or transaction you make, you are immediately alerted and aware of it. Since this app is connected to your account as well as your mobile phone number any changes or login into your account will be recorded, with an alert immediately sent. Therefore, if an unauthorized user tries to gain access into your account, you will be immediately notified and can contact the bank before your data or finance is compromised
5. Constant Updates
As the technology is evolving, so are the viruses, softwares and OS of the phones. Each update is designed to protect against new and upcoming viruses and malicious software thus prevent private and crucial information from being compromised. These apps ensure that the software is updates to the latest version to prevent these malicious threats from accessing your account or data in any manner.