The Era of Digital Banking & Beyond

In this era of smartphones and digital banking, everything related to our finances can be handled with the tap of a few buttons stated by Bahaa Abdul Hussein. On the flip side, there is also an increase in financial fraud based on online banking. If you are worried about protecting your financial information and banking details while conducting banking activities, you are not alone. No matter if you’re a newbie or a veteran to online banking, here is our checklist with guidelines for successful online banking.

Activate 2FA/MFA

2-Factor Authentication or Multi-Factor Authentication has become a pivotal tool in combating many common cyberattacks. The idea is to essentially build a multi-step security lock which cannot be bypassed easily. Logging into any site, app or system nowadays requires this method. Usually a code is sent to confirm the user’s identity in addition to your password. This code is received as text messages on your phones or email addresses.

Bolster your passcodes

The importance of setting up a foolproof password in this era of virtual identities cannot be overstated. Follow all the basic rules like never repeating a password, using complex ones with many symbols or numbers and using a password manager to keep track of them. Turn off auto-fill suggestions in your browser and apps as this is becoming a new target for fraudsters to steal data.

Turn on biometric authentication

Make sure your biometric authentication methods like fingerprint locks and facial recognition are turned on wherever concerned. This adds an additional layer of security as hackers find it difficult to replicate our biometric prints. From your financial data to digital identity documents, everything can be protected with biometric locks these days.

Current contact details

Always ensure your banking details are accurate, comprehensive and recent. Failing to unlink a phone number you don’t use anymore can cause problems like SIM hijacking and identity theft. Conduct routine checks to confirm if the details linked with your bank accounts are all current. It is also advisable to always check if your apps and browsers are running on the latest updates.

Turn on push notifications

If you are using mobile banking apps, it is good practice to have push alerts turned on in your phones. This enables apps to instantly notify you in case of problems even if you are on silent mode or using other apps that don’t generally allow notifications. Banking apps today are evolving their security measures to protect users against the latest types of fraudulent attacks.

The article has been written by Bahaa Abdul Hussein and has been published by the editorial board of

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