A banking app enables you to do more or less everything that you can do with internet banking, only faster and with greater ease. Yet the uptake of banking apps has been relatively weak in
All of the big four banks have apps.
u FNB's app, which has 600 000 active users, was voted the best app in
Across all banks, the number of app users as a percentage of online banking customers is small. For example,
Research done in
Scerri confirms that users are sceptical. "There is this perception that mobile is less secure, but we use the same security protocol as we do with internet banking," he says.
"People think that if your mobile device gets lost or stolen, you're compromised, but that's like saying you're compromised if your laptop gets lost or stolen. You're only at risk if your credentials are [stored] on the laptop, and the same applies to your mobile device. The same security measures apply; it's just another device," Scerri says (see "But are they safe?", below).
Hesitant to hit "install"? Personal Finance answers the ques-tions you may be too embarrassed |to ask.
n Why do I need an app?
An app offers you a richer, more intuitive banking experience than online banking, as well as features that add value, such as access to financial indicators for commodity and share prices and foreign exchange rates. Each app is unique in its design, which determines usability. And while all the banking apps offer more or less the same features (see "What your bank's app can do for you", right), each app boasts a unique feature or two.
For example, FNB app users can make calls to other FNB app users free of charge, irrespective of whether they are FNB customers. Another unique feature of FNB's app is the Geo Payment function, which enables non-FNB customers using the app to make payments |(see "Do I need to be a customer to use the app?", below).
Most Popular Stories
- Twitter Coming to Phones Without Internet
- Twitter Names Woman to Board
- Thalia Gets Star on Hollywood Walk of Fame
- Rand Paul Signs up for Obamacare
- Obamacare Doing Just Fine, Ky. Governor Says
- How to Arm Yourself Against CryptoLocker Virus
- World Cup Draws: Coaches, Players Offer Insights
- Warner Bros. Unleashes 'Hobbit: Desolation of Smaug' Merchandise
- Texas Chiller Moves East
- Hispanic Employment Improves in November