Are Biometrics the Future of Credit Union Security?

By Preston Packer |

Feb

28

With the increased use of mobile banking apps, cybersecurity has quickly come to the forefront as an imperative measure to guard against hacking and fraud. In a recent study, researchers predicted that smartphone subscriptions could hit six billion globally by 2020, and 81% of adults in the U.S. will be using mobile banking. As all of these members transmit their usernames, passwords and account information over the local area WiFi, there is an increasing amount of vulnerability that could lead to their information being compromised.
 
Similarly, online banking has also felt the impact and the need for more robust security measures, as credit unions now offer loan and account applications and a variety of other transactions over the internet, capitalizing on the convenience and ability to reach an account holder at home or on the go.
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Do These 3 Simple Things to Ensure a Positive Mobile Banking Experience

By Preston Packer |

Feb

22


It seems many members have embraced mobile banking from the onset. The idea of not having to wait until 9 am the next morning to talk to a teller or wait until you are at home in front of your laptop to see if a check cleared has its obvious benefits. While most people are familiar by now with the conveniences of a mobile banking app, there are several marketing efforts out there illustrating the benefits these apps can provide. Picture a woman out with friends who suddenly realizes she doesn't have her credit card in her purse. After a brief moment of panic, she whips out her phone and instantly freezes her card. She then walks calmly through the frozen crowd to retrieve her lost card, still sitting absently on the table with her bill at the restaurant they just left. A simple solution - offered through remote control cards in her mobile banking app - to an  inconvenient and often  common problem.
 
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