Mobile banking apps have tremendously made banking more convenient for most of us. Making deposits, payments and handling all sorts of transactions for your account on your smartphone has become a standard nowadays. However, it seems as though there are quite a number of security issues on mobile banking apps that we fail to notice at first glance.
These issues include phishing forms while you’re logged in on your account, lack of alternate verification method and sharing your information with other apps. Of course these are great concerns that should be looked at and should be resolved by the app developers immediately. We do not want to go back to traditional banking if we can conveniently do many things from our mobile devices but the public has to be warned against these issues.
These issues seem to be not surprising to those who understand technology more than others. Applications always have flaws and security is one thing you do not want to compromise here. Unfortunately, not everybody understands how things operate under the screen. The solution here is that banks should take the responsibility to make their applications secure before launching it for the clients to use.