Banking activities is going to be more digitalized this year, considering the fact that banks are beginning to add more flavor to digitization.
For instance, United Bank for Africa, UBA recently unveiled an Artificial Intelligence powered chatbot to help customers carryout certain bank transactions.
Obviously, more banks will also key into rolling out similar innovations powered by any disruptive technology.
Today, when you consider the rate at which hackers operate, you feel anxious carrying out your banking transaction online.
Globally, one of the sectors that strongly felt the disruption posed by technology is the banking sector.
The way banking was in the last decade isn’t the same as today. Banking is so simplified and easy today, but security still poses the biggest threat.
You could just sit in your bedroom and make huge transfer of funds in less than 3minutes to someone without necessarily visiting the bank. That’s resounding and remarkable but security remains the key.
According to reliable reports, Nigerian Deposit Money Banks, DMBs, lost N2.19 billion to fraudsters through electronic channels in 2016 fiscal period.
When using the mobile banking apps, your personal data warehoused on your device can still be compromised or hacked via connections that are not safe.
Hackers have learned how to hijack Wi-Fi routers to spread malware and steal data from connected devices.
Besides, the way you use your smartphone is susceptible to compromise.
To put simply, there are lots of security vulnerabilities associated with the online banking.
However, here are some tips you could adopt to curb the possibilities of getting your data and privacy compromised.
1) Be more private: Avoid accessing your banking details using computers in the office, cybercafé or somebody’s.
2) Antivirus: It is advisable to download, install and use good antivirus or anti malware.
3) Frequent Change of Password: Do password rotation, in other words keep changing password.
4) Use Secured Browser: It is advisable to access banking from a sandboxed browser.
Alternatively, the chrome where you have incognitive mode its safe.
5) Ensure Complete Privacy: Do not reveal your banking details to your bank account manager, or any team member from your bank.
6) Be Careful Online Transaction: Do not trust any bank website without going through the reviews or contacting them before doing any online transaction.
Finally, check where you’re erring and start doing the right thing. You don’t have to be a victim before doing the needful.
