Federated Bank

Providing Our Communities with Exceptional Banking

Mobile Banking Is Safe and Secure

By Matt ClarkOnarga Lending Staff 006

In this day and age, you cannot be too careful. Thieves and hackers are always looking for a way to enrich themselves at your expense. It is good to be a little cautious, trying to avoid those activities that would put you at risk for fraud. So you may be wondering: What about this new Mobile Banking app? Does it provide thieves with an easy way to steal my money or my identity? I am happy to report to you that it does not. Mobile Banking is a safe and secure option for conducting your banking business.

You can have full confidence in the safety and security of Mobile Banking because a lot of thought and effort has gone into ensuring that it is safe to use. Here are a few of the technical security elements that have been put in place for your protection:

  • Mobile Banking utilizes the Operating Systems already in place on your smartphone. Smartphones such as iPhones, Android, and Blackberry have a very controlled and secure operating system.
  • Mobile Banking uses 128-bit SSL Encryption just like Online Banking. This process encrypts and protects any transmission of data, including customer account information.
  • Mobile Banking uses strong Firewalls just like Online Banking. A firewall establishes a barrier to provide you with protection from unauthorized or malicious intrusion.
  • Mobile Banking uses your Username and Password for access, just like Online Banking. And just like with Online Banking, your account will lock down after 3 incorrect login attempts from your mobile device.
  • Mobile Banking uses additional Security Q&A Authentication for initial access to your account.

Even in the unfortunate event that you should lose your phone, Mobile Banking does not expose you to any additional risk. Your account information is never stored on your phone and neither are your passwords. Furthermore, your login session will automatically log you out if you navigate away from the app.

In fact, I am so confident in the security of the Mobile Banking app that I use it myself! If you still feel uneasy about Mobile Banking, just stop by one of our branches and talk with me or a branch manager. We will be happy to explain to you why we are not worried about the safety and security of Mobile Banking and why you shouldn’t be either!