Smartphones have become more effective than before due to the introduction and use of mobile apps. They help you perform any tasks, like booking a movie ticket, shopping a product, locating a clinic nearby and banking easily. A mobile banking app facilitates online banking from the comforts of your home. It has turned out to become an unavoidable financial companion today.
Nevertheless, the increasing number of fraudulent activities online, has made monitoring based on strong customer authentication crucial. Apart from the secured transaction protection system, the users must follow safe banking tips to have complete control over their financial transactions.
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How does IDFC FIRST Bank’s mobile banking system help secure transactions?
Going by the mobile banking revolution, banking interfaces such as the IDFC FIRST Bank Mobile Banking app are designed to give more security and convenience to the users. IDFC FIRST Bank offers complete security to customer data by using artificial intelligence for fraud prevention. Its mobile banking app has better access to daily transactions and the customers can check daily balances. The alerts and notifications on every transaction from the bank help them to know any suspicious activity and take immediate actions to prevent them.
In addition, the two-way authentication, log-in methods and OTP minimize the chances of fraud. Apart from these, the banks use mobile GPS data to enhance the level of security by getting geolocation information from the app to decide if the transaction location aligns with the customer’s mobile. This helps to respond quickly to any possible fraudulent transaction.
Know the tips for safe internet banking
Though banks are doing their best to prevent fraudulent activities, it is essential that customers should also follow some online banking safety tips. Here are a few of them to help you have a safe and secure online banking experience.
Change your password frequently
Customers should change their password periodically every 90 days. This will enhance online banking security. Avoid using a word or phrase that is familiar to common people because words and phrases are easy to guess and identify.
Never use your details such as the name of your family member, birthdays, name of your place, street, or pet’s name as passwords. Instead, use numbers and special characters. Moreover, longer passwords with a combination of special characters and codes are safer. Hence, a password with letters, numbers, and special characters would be a better choice.
Never use public computers or Wi-Fi
When you use public Wi-Fi to do banking, it will give a third person an opportunity to access your password and browser history. With the IDFC FIRST Bank mobile banking app, you can avoid this. It helps you carry out your financial transactions anytime and anywhere with all security.
Check your bank balance and statement periodically
To have a safe internet banking experience, checking your bank statement at least in a month and checking your balance after every transaction is essential. Though banks like IDFC FIRST Bank are highly proficient at identifying frauds, specifically with credit cards, they may not catch every transaction. So, make sure to review your statement every month.
You can follow the above tips for safe banking to stay safe and protect your identity and money.