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Mobile Banking Security: Banks are in the Security Business


As a prudent smartphone user, it’s natural to wonder if your smartphone bank transactions are secure. Rest assured, mobile banking is safe and secure because banks are in the business of securing sensitive customer data.

Direct Connect

Your individual smartphone is coded to link directly to your bank accounts to conduct banking business when you’re on the go. This means that other smartphone users – even those with your PIN – can’t access company accounts without an authorized, coded smartphone linked directly to your online accounts.

This prevents unauthorized access to accounts using another smartphone. Only those smartphones you approve can access accounts.

Password Protection

It’s always a good idea to use the “lock” feature on your smartphone – an electronic lock that can only be opened using your PIN. This protects all data stored on your smartphone in case it gets lost.

Banks also add another layer of security by requiring a password to access your online accounts using a mobile phone. Without the password, unauthorized access is all but impossible.

Data Encryption

To protect your company’s highly-sensitive financial data, banks employ heavy encryption – special coding – that eliminates the likelihood of transmissions being intercepted.

You can contact your bank to conduct online activity assured that your transactions and account information are encrypted to protect what’s yours – the company’s online “books”.

Banks also send alerts and other information regarding account activity to your smartphone. These messages are also heavily encrypted to protect bank account numbers, PINs and other sensitive data.

Banks Respect Your Privacy

If you’re a busy business owner, you store a lot of information on your smartphone. Your contacts list, snap shots from the latest job site, emails from the field. Today’s smartphones offer a lot of different features used by businesses every day.

Your bank’s security system respects your privacy. It doesn’t access other information stored on your smartphone. Your bank simply uses smartphone features – like the camera to take pictures of checks for remote site deposit – and keeps clear of the other information stored on your smartphone.

Getting Started with Mobile Banking Is Easy

Banks take security very seriously and provide redundant layers of security to keep your data safe.

To equip your smartphone with company account access, you’ll be required to enroll in your bank’s online banking program. You’ll also be required to register all smartphones authorized to access online accounts.

To further secure company information, you can create different permissions for each smartphone user. If an employee requires “view only” account access, you set the parameters.

Common Sense Security Tips from Your Bank

Your bank may also offer some commonsense tips to keep mobile banking even more secure. Here are some simple steps you can take to keep smartphone banking even smarter:

  • Never loan your account-authorized smartphone, even to a trusted employee or family member. Keep your smartphone in a safe place for greater security.
  • Use letters, numbers and punctuation symbols in your smartphone and account passwords, and of course, never give your password to anyone.
  • Don’t keep your password with your smartphone. You might be tempted to store passwords in your day planner – the same day planner in your briefcase along with your smartphone. Banks recommend storing PINs in a secure place.
  • Never leave your smartphone unattended. Take your smartphone with you or lock it in a secure drawer.
  • Train your team in smartphone use to improve data security even more. A smart team, trained in smartphone use, adds an additional layer of security to company data.

Mobile banking has become an invaluable tool used by more and more businesses with remote site offices, service technicians on the road, and outside salespeople. Businesses run more efficiently with mobile banking services.

Business - Security Center

Ready to explore how Sunflower Bank can assist you? Speak to a personal banker at a branch near you, contact a specialist on our Wealth Management team, or find the right financial partner on our Commercial Banking team for your business needs. 

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This article contains general information only. Sunflower Bank is not, by means of this article, rendering accounting, financial, investment, legal, tax, or other professional advice or services. This article is not a substitute for such professional advice or services, before making any decisions related to these matters, you should consult a qualified professional advisor.