Thursday 31 May 2007, 6:33 PM

Mobile Banking Gets a New Security Guard

Posted by MobileTech

A recent article on PocketPicks suggested that “by 2010, 35% of online banking households will also be using mobile banking services.” Many of the global banking giants have already invested millions of dollars towards mobile banking technology in preparation for this new wave of banking. Mobile phone owners are increasingly getting additional interactive content such as music, video, and games so it is a natural evolution that banking capabilities will arrive in stride.

With such increases in available content, cell phone owners must begin to consider the safety of their handsets. Much like in the computer world, mobile phones also have external threats. There has been emerging media press coverage lately about cell phone viruses among other security issues facing cell phone owners. It is easily understandable how increased content can translate into increased risk.

As the banks have invested in bringing the mobile banking services to their customers, customers must also begin considering their cell phone security as much as their computer security. As the founder of MyMobiSafe.com I am obviously partial to the services we provide for cell phone security but there are others out there. McAfee, F-Secure, and Bullguard all have a mobile antivirus program designed to protect specific mobile handsets. The big advantage to most wireless users is that MyMobiSafe.com has introduced is a security solution that works with all cell phones.

One of the reasons MyMobiSafe™ has attracted so much interest from the banking community is that increasing cell phone security is the first step towards allowing customers to have the confidence to try mobile banking services. So far the banks have invested in the technology, mobile security providers like MyMobiSafe.com have invested in the security, and as more cell phone owners realize their mobile vulnerability the pieces will all come together.

Mobile banking is here to stay, but as wireless users we have to keep mobile security high on our priorities list. I am working to establish MyMobiSafe.com as the new security guard for the mobile banking community.

Sources:
PocketPicks.co.uk: http://www.pocketpicks.co.uk/latest/index.php/2007/05/21/mobile-banking-to-take-off-by-2010/

MyMobiSafe.com: http://news.google.com/news?um=1&tab=wn&hl=en&q=mymobisafe

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