5 ways to improve the security of Mobile Banking apps

Mobile Banking apps help us manage finances, pay our bills, process online transactions and cater to all our banking needs. Learn to improve the security of your Mobile Banking applications and safeguard yourself against online threats.

You are probably already using Mobile Banking apps to manage your day-to-day transactions and payments. Mobile Banking applications have made banking simple, convenient and accessible. Whether it’s to fetch your account details, transfer funds or apply for a new product, Digital Banking has become the obvious choice. However, Mobile Banking apps are susceptible to online threats.

1. Avoid using public Wi-Fi: Practice safe Mobile Banking. Avoid an open public Wi-Fi and switch to a reliable network when using a Mobile Banking application. Connecting to a public Wi-Fi system gives hackers ready access to your data. Use your own mobile network when accessing a feature on any banking app.

1. Always remember to log out: Remember to log out from your Mobile Banking application once you are done using it. Most banking apps log you out automatically after a time-out period. For instance, ICICI Bank’s iMobile Pay app automatically logs off when not in use, in case you have forgotten to log out.

2. Use a trusted Mobile Banking app: Always use a trusted and reliable Mobile Banking application to rule out online attacks. ICICI Bank’s iMobile Pay encrypted with a 2-factor authentication ensures a secured banking experience, making it the safest Mobile Banking app.

3. Never store banking data on your phone: While accessing Mobile Banking apps avoid storing any password or banking data on your phone for auto-fill. If a phone is lost, all such data may get misused.

4. Avoid sharing passwords: While using a Mobile Banking application, never share the password of your mobile phone and/or application/s with anyone. Bank representatives never ask for your Mobile Banking details. Password sharing can lead to huge financial loss.

Takeaway:

Using a trusted Mobile Banking application such as iMobile Pay is the best way to avoid possibilities of online threats. ICICI Bank also offers the InstaBIZ Mobile Banking application. Transactions processed on these apps employ several security measures, making them completely secure. Any kind of data shared between the client and the server is encrypted using PKI. Even if you are a non-ICICI Bank customer, you can still download the apps from Google Play Store or App Store for all your banking needs.