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Adopting banking with a layer of mobile security

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With so many additional layers of security available for banking online on mobile phones, it makes sense to save some time and try out mobile banking right from your fingertips

By Sandeep Ganguly

With the advent of online banking, gone are the days of taking out special time to visit our local bank branch and stand in long queues every alternate week. No, it is not because our banking transactions have reduced, but, because online banking has made it easy to carry them out at anytime and from anywhere.

Ease and Convenience of Mobile Banking

You will agree that there is no comparison of the ease and convenience with which you can perform your banking activities like adding beneficiaries, transferring money to same / different bank accounts, paying bills, etc. And more so because you can carry out these banking tasks during your idle time while travelling to work, or sitting at a restaurant / cafe waiting for someone, etc. This is possible because of the use of mobile phones or devices for carrying out the banking activities. Most of them can be done on your fingertips!

Mobile Banking Security Concerns

However, for long, there has been hesitance being shown by many people to carry out mobile banking activities, because of the concerns of security. Will my banking account id and password continue to remain safe after logging from my mobile phone? Won’t some random hacker hack my online banking transactions and get all my bank account money transferred to his / her account? Well, these are some basic queries that have troubled the common man and prevented many from trying out banking on their mobile phones.

Secure Mobile Banking

There have been so many secure ways by which banking can be carried out on mobile devices, that the above mentioned security concerns have remained just a myth, rather than being a reality!

Not only do several banks send verification code SMS (or One-Time Password) to your registered mobile number for logging into your online netbanking account, but, they also do the same while you are carrying out any monetary transaction like transfers or payments. This serves as an additional layer of security for your mobile banking activities, to authenticate your user identity as well as verify the transactions.

Additionally, several banks even notify you about any online activity via SMS and email. Thus, you can stay aware about any transactions carried out from your bank account, and immediately raise concerns if any transaction has not been carried out by you.

With so many additional layers of security available for banking online on mobile phones, it makes sense to save some time and try out mobile banking right from your fingertips!

The author is CEO, U2opia Mobile.


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