The advancement of technology brings advantages and disadvantages. On the positive side, it allows people to take shortcuts for their tasks, and make life easier for everyone. On the negative side, it brings in risk that we can’t even perceive unless you are informed properly. However, it is similar to any other innovation and new discovery that society has found. There are pros and cons to everything on this planet.
Technological innovation introduced online banking in the late 1990s. People were introduced to a method of banking that required trust in electronic devices and the internet. Back then, people were sceptical about the whole thing, since people could’nt understand the concept. This is understandable because we, as humans, tend to be scared of what we can’t understand. However, with time, they began to accept the new norm of banking, and now it is an essential part of being a human in this modernised society,
Online banking is accessible, convenient and fast. It allows people to keep track of their spending, settle their loans and payments and transfer money from one account to another. Having an online banking account makes you more legitimate and trustworthy. It allows employers to put their trust in you as you work for them. You can access your online banking account from anywhere, as long as you have an electronic device and stable internet connection.
As mentioned before, online banking comes with risk. Here are a few ways you can secure your online banking account.
Ensure that your internet connection is secured
Internet connection can be easily compromised by hackers and scammers. They have the ability and skills that allow them to latch themselves onto your internet connection. Once there, they will have access to sensitive and private information and details. This includes your online banking details and passwords. So, to avoid this you should install a Virtual Private Network (VPN). A VPN ensures that your network is hidden from others, especially hackers. They won’t be able to get your information if you are using a private network.
Other than that, try to avoid using public networks. Since these networks are accessible by all, they are also accessible by hackers. These people can latch onto your network, and steal the details without you even knowing it. Only access your online banking account when you are at home, or you have a VPN for your network.
Check for application updates
When you first registered for an online banking account, you must have installed an application to go along with it. This application allows you to access your bank account easily, plus it is safer than logging into a website. However, your job doesn’t end there, you need to check for any remaining updates. There will be updates every now and then, because they are fixing any bugs and issues with each update. These updates also ensure that your account is protected. So, whenever there is an update for the application, ensure to download the update immediately.
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