Mobile bank technology is among the most exciting consumer technologies in the industry right now. The promise is real, but with success and more usage will security issues eventually come to the surface? As of right now, mobile banking is considered much more secure than online banking. There are indeed some basic security features in smartphones that can be activated.
But as the industry matures and as mobile security in general rises as an issue [1], you would have to wonder at what point cybercrooks will plan to compromise the technology. Banks would be wise to start thinking through their customer message now, before it explodes as a problem, which isn't to say it will. It's not too early to start instilling some best practices. MyBankTracker has some simple advice that is worth mulling as part of customer education: Locking phones, turning off Bluetooth when necessary, being selective when downloading apps, using remote wipe features and the like.
For more:
- here's the list [2]
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