bankingciooutlook

Four Key Measures to Consider for Secure Online Banking

By: Banking CIO Outlook | Thursday, November 12, 2020

Using multi-factor authentication for every account can add layers of protection such as confirmation access via email, phone call, or text, making sure that criminals cannot access users’ accounts even if they obtain their login information.

Fremont, CA: Online banking and financial technology have evolved significantly and made daily life activities more accessible, such as completing financial transactions and transferring from anywhere with a laptop or smartphone without physically going to a financial institution.

However, along with the advancement of the financial environment, security risks also increase. Here are four ways to secure and safeguard financial data and privacy:

Multi-Factor Authentication

Using multi-factor authentication for every account can add layers of protection such as confirmation access via email, phone call, or text, making sure that criminals cannot access users’ accounts even if they obtain their login information.

Password Generators are Key

Creating a strong password to protect the account from cyberattacks is essential. Password generators and managers can help create and store highly secure passwords.

Always Use a Secure Connection

Avoid using public WiFi connections when putting in sensitive information such as banking passwords. In case a user has to urgently log into the bank or credit card account when on the move, use a VPN and log out after it is completed.

Virtual Private Network (VPN)

Using a VPN is an important security feature against hackers who could breach the account from across the globe. The right VPN will allow users to complete encrypted bank transfers without any breaches from cybercriminals.

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