Is Mobile Banking secure?
Mobile Banking employs industry best practices with regards to security. It has been assessed against industry security criteria by a number of independent system security experts.
At a high level, Mobile Banking offers the following security safeguards:
- Authentication – Mobile browser and application solution customers are authenticated for every interaction with any Mobile Banking component. Customers are authenticated by user name and password or by utilizing existing login credentials for single sign-on.
- Encryption – 128-bit encryption is used for all transactions within Mobile Banking .
- Fraud – Mobile Banking incorporates mechanisms such as transaction validation and transaction reconciliation processes to detect fraud.
- Availability/Resilience – Mobile Banking is protected against malicious attacks through software and server hardening measures.
- Audit Ability – Mobile Banking provides full audit capabilities through event logs and event-based reporting.
Posted in: Mobile Banking