CIOReview
CIOREVIEW >> Banking & Insurance >>

Making Online Banking Safer and Accessible

By CIOReview | Friday, August 28, 2020

A strong password is not just one that is complex, but also one that is memorable at the same time. Strong, memorable passwords are necessary to ensure protection from high-level security threats.

Fremont, CA: Online banking and digital financial tools have had a significant impact on human life, making complex tasks more straightforward, and services easily accessible. People no longer need to stand in long queues to make a deposit or withdraw cash. Countless financial transactions are now just a click away, all of which can be completed from the comfort of the customers' homes. A laptop or a smartphone is more than adequate to complete these transactions. However, there is a significant amount of security concern that comes along with these online transactions. The financial revolution has been hindered by several discrepancies caused by the drawbacks of internet-based technology. Hackers pose the biggest threat to the financial sector. As history shows, sensitive financial information, and banking information is always at risk regardless of whether the connection is public or private. It is essential to safeguard all information and take every precaution when leveraging online banking services.

Here are a few tips that can help protect and safeguard financial data and privacy.

Use a Virtual Private Network (VPN) A VPN acts as the first and most important line of defense. It provides the necessary protection from hackers who can easily access any information by writing just a few lines of code. Suppose the right kind of VPN is implemented. In that case, it is possible to complete encrypted bank transfers without having to worry about prying digital eyes. Top-rated VPN services offer unlimited protection without slowing down the transactions, for a small price.

Multi-Factor Authentication

Apart from a VPN, using a multi-factor authentication system is also beneficial in many ways. It is advised to use multi-factor authentication for all accounts, even if you are the type of person that creates super secure passwords. It offers an added layer of protection that ensures that hackers can't access account details even if they have the login credentials. The additional confirmation required using, mobile, text, or email makes all the difference.

Passwords Generators

A strong password is not just one that is complex, but also one that is memorable at the same time. Strong, memorable passwords are necessary to ensure protection from high-level security threats. Password generators and managers take the headache out of creating and remembering super-secure passwords by creating and storing them.

See also: Top Digital Banking Solution Providers in Europe