skip to navigation
skip to content

Financial Outsourcing Solutions

Corporate People

FOS Blog

31 Mar

Are You Educating Your Mobile Banking Customers

Are You Educating Your Mobile Banking Customers?

It seems to be the way of the financial institution in recent years.  Banks of all sizes are getting on-board the mobile banking train.  And why wouldn’t they be?  This is the “hotness” when it comes to the way customers want to conduct their daily banking activities.  With a few quick strokes on their mobile devices, they can check account balances, transfer money, make their car payment or even deposit a check.

But as with many things, the ease of transactions doesn’t come without its risks.  You, as a banking institution can implement internal controls to help mitigate the risk of data breaches, but how are you educating your customer on how they can protect themselves?  The CFPB released some tips to help mobile banking customers protect themselves from exposure of their private information.

  • When accessing mobile banking applications, it should be encourage to go through a private network and a secure site that begins with HTTPS. Customers should access the Bank’s website directly and not through a link in an email from someone who could be fraudulent.
  • Encourage customers to password protect their mobile devices using strong passwords and don’t save them on your mobile device.
  • Remind your customers to not share their passwords or PINs with anyone.
  • In the event your customer loses their mobile device, they should immediately notify all of their financial institutions and financial services providers.
  • When changing mobile devices, customers should be encouraged to remove any sensitive information from their old device.

Providing these reminders periodically to your customer base can go a long way to protecting your customer, as well as, protecting the Bank from loss.

For additional information please contact the author Rachelle L. Gordon at