Many banks have now implemented a mobile banking option that makes banking easier for customers on the go. Is this a positive or negative change? In regards to Laura’s blog, she states that, “the movement towards technology, banking in app form could soon become common practice.” I completely agree. 55% of Canadians have switched to internet banking as their primary choice of banking. Mobile technology and advancements in speed and efficiency for these banking applications and sites will only increase in popularity from here on out. This is also great for companies as this new channel picks up, profit for them will increase as well.
However, an issue that I’d like to address is security. Is online banking safe? Although companies do their best to implement security policies to ensure confidentiality, traditional customers often question the security of these measures. There have been online hacking incidents that have negatively affected banks’ reputations. As our society evolves into a tech-savvy culture, I believe that it is important to take into consideration the possible loopholes in the technological system to further improve. Fortunately, there are already several banks that have daily security changes in their systems and top-of-the-line technology to ensure security for their customers.
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References:
- “How Canadian Bank.” Canadian Bankers Association. Canadian Bankers Association, 29 July 2015. Web. 3 Oct 2015.
- Sayson, Laura. “Laura Sayson’s Blog | Just Another UBC Blogs Site.” Laura Saysons Blog. N.p., n.d. Web. 16 Nov. 2015. <https://blogs.ubc.ca/laurasayson/>.