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What You Need to Know about Cybersecurity and Mobile Banking

by AOG Wealth Management

Today, many people tend to spend their private and professional lives using mobile devices. This growing trend has given rise to a hyperconnected workforce and more technically advanced forms of businesses.

Mobile technology is becoming an increasingly popular platform for executing financial transactions, especially banking.

According to David Pollino of the Bank of the West, mobile banking is growing faster than any other banking service. It’s highly convenient, which makes it the ideal banking solution for the “always connected, always on-the-go” generation.

On the flip side, one of the many perceived drawbacks of mobile banking is the service’s vulnerability to cyberthreats. It’s important to know the risks when entrusting your finances to these new technologies.

Some argue that mobile is just as secure as other forms of payment or processing. However, it’s unwise to ignore the security pitfalls that can affect this type of transaction. After all, the threats may be digital, but the consequences are all too real.

According to a survey conducted by Longitude Research, spam, phishing, botnets, and mobile malware are just some of the most common cybersecurity challenges faced by the banking industry today. Malware, in particular, has become more potent and complex. This alone has many financial institutions doing all they can to strengthen their mobile payment processes.

From mobile banking to managing your assets online, a Northern Virginia wealth management advisor can help you with your financial questions and ultimate decisions.

AOG Wealth Management provides institutional-quality financial management services for Northern Virginia, DC and the surrounding area for people in all stages of life. We understand that each client and financial situation is different, so we make sure our solutions are custom-fit to your needs.

We have asset management services that include insurance portfolios, retirement funds, college savings plans, and mutual funds. We also help clients who are seeking wealth protection and growth. We provide financial planning services, including estate planning, investment management, retail banking, and legal resources.

You can enjoy having a Reston area wealth management expert like AOG Wealth Management manage your financial assets and be a resource for all your financial questions. We have the right tools, techniques, and people to help you achieve your financial goals. For more information, Contact us at (866) 993-0203.

Category: Blog, Info Articles