With so many people having already discovered how convenient and powerful it can be, Mobile Banking is clearly here to stay. Just about every bank in the area now offers iOS and Android apps that can be used to access common banking functions. While many of these apps seem broadly similar on the surface, though, they actually vary quite a bit when users dig deeper down.
One respect in which they frequently differ, for example, is with regard to the security they afford users. Many people today are used to utilizing two-factor authentication when they sign on to their bank accounts through their web browsers on personal computers. This is a great way of adding much-needed security, making it far less likely that a hacker on the other side of the globe will be able to hijack an account.
This option is now widespread among web-based banking account administration portals. Mobile Banking applications, though, are less likely to offer it, despite its proven advantages.
One reason for this is pretty obvious: The second factor with web-based banking authentication is often provided by a smartphone. While requiring possession of a particular phone and the apps it hosts can be a good way of stymieing criminals in Russia or China, it will not do anything if the attacker already has possession of the phone in question.
That leaves the makers of smartphone banking apps needing another option entirely when it comes to two-factor authentication. Fortunately, there are ways of arranging for this, whether that means allowing users to rely on the custom-printed cards like the Pearl Hawaii Federal Credit Union app does or other means entirely.
Having access to this kind of security, then, cannot be taken for granted by users of smartphone banking apps. This means that those who care the most about keeping their accounts safe from criminals do well to undertake some extra research before deciding where to bank. While many users will care more about features and frills, looking into things of this sort can easily prove to be rewarding in terms of the potential hassles it can prevent. You can like them on Facebook.