How Secure Are Banking Apps?

The way in which we bank has changed dramatically over the years. Now, it’s possible to control your money from your smartphone. Thanks to banking apps, you can manage your money 24 hours a day, 7 days a week, no matter where you are. As long as there is an internet connection, you’ll be able to use the app whenever you want.

The question is, just how secure are banking apps? Here, we’ll look at the measures being taken to ensure these apps are secure.

Generally speaking, mobile banking apps are secure, but there is room for improvement. Several tests have been carried out to detect how safe banking apps are and all have shown some vulnerabilities within the system.

Some apps tested were shown to be vulnerable to attacks, while others stored customer data insecurely. However, the good news is the results from these tests did make the banking industry pay attention and make improvements. So, the banking apps of today are generally more secure than they’ve ever been.

Which Is Safer, App Or Browser Banking?

Both banking apps and browser banking are mostly secure, but only when you’re banking at home. When you venture out, if you use a public WiFi connection for example, you’ll be exposing yourself to potential hackers if you use browser banking. So, in public settings it’s typically safer to use a banking app, rather than banking via a browser.

If you delve a little deeper into the security of both, you will find apps do tend to be a little safer. This is because most hackers do tend to focus on gaining access to browser banking.

There are lots of different ways they can steal your information or infect your PC or laptop with a virus. It’s a little more difficult to place a virus into a banking app, so that’s definitely something to consider.

How To Improve The Safety Of Your Online Banking

As with any technology, there’s always a risk mobile banking apps and browsers can be compromised. However, there are things you can do to protect yourself. Making sure you firstly choose a reliable company to bank with is crucial. You should also make sure you choose a secure password and change this frequently.

You’ll also want to avoid clicking on any links in emails you recieve, unless you 100% know that it’s not a virus. Be aware that your bank will never ask for your password or other details through email.

Overall, banking apps are generally safe to use, but like any type of technology, they are vulnerable to issues every now and again. It’s best to take measures to protect yourself, such as changing passwords frequently, to maximise your banking security.

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