The nature of banking is experiencing drastic change due to rapid technological advances worldwide. Our banking activities are shifting toward platforms that are more convenient and quick. Thanks to the boom of the internet a decade ago, we no longer have to make trips to the ATM to check our balances and manage transactions.
We gradually moved from banking on our desktop to banking on our smartphones. This transformative step takes us away from the rigidity of traditional banking, and onto a horizon where we can take care of our financial affairs on the go. Almost everyone does banking on their smartphone nowadays; it’s the norm. We’ve even made the leap from mobile sites to mobile apps because we just want everything faster and easier.
Although mobile banking apps are relatively safe and reliable to use, we should never ever take it for granted. We should be vigilant of cyber crimes, and exercise precaution by practising these six practical tips:
Every bank should have their own official app. Make sure you download and use the right one.
Update the app
Apps need to be updated from time to time because of the improvements or security enhancements that are made. You must update your banking app to fix bugs and get the latest features, otherwise, you may risk exposure to fraud and identity theft.
Enable push notifications
Increase your smartphone banking security by opting for SMS authorisation. Your bank will notify you every time money is debited from your account, so you will be able to detect fraud in its early phase and nip it in the bud.
A rule of thumb is to log out of your banking app whenever it’s not in use. You should log out even if you plan to open it again 10 minutes later, so your banking details will remain safe even if your smartphone gets stolen.
Install a phone tracking app on your smartphone so that you may trace it or remotely erase all data should it ever fall into wrong hands.
Install an antivirus on your smartphone to protect you from dubious activity and suspicious apps that can retrieve sensitive data.
Get a secure mobile banking experience with RHB Bank Malaysia. Learn More here: https://www.rhbgroup.com/products-and-services/personal/rhb-now/rhb-now-internet-banking