Avoid Danger in the Waters, Prevent Mobile Banking Scares

Mobile banking is pervading the financial world helping consumers more efficiently manage their finances.  However, the fears consumers harbor with respect to the security of their finances easily translates to the mobile channel.

Over a year ago, Android phone users downloaded mobile banking apps from an unknown developer, 09Droid. The apps, which boasted connectivity to large banks, such as Bank of America and Wells Fargo, were never created, hosted, or sponsored by their respective institutions.  Luckily, the fraud was discovered and the apps were removed from the Android App Market.

With consumers wary of a variety of security issues regarding their financial data, it is important to provide them with tips to stay safe, and secure their faith in your financial institution’s mobile banking offerings. A CreditCards.com post describes the following tips for consumers to stay safe before and after going mobile:

Before Going Mobile

1. Consider the app store

2. Check out the source

3. See what others are saying

4. Try a bookmark instead

You can read the full post, including tips after going mobile here.

While some consumers may seem to be overly cautious, it is more important to direct your customers to the correct, secure banking options to ensure increasing mobile adoption.

How do you assure customers that they are banking safely across a variety of financial tools?  Let us know in the comments below.

Written by Banking.com Staff