Bangalore: The pace of life is increasing, so is the need of people to adjust with it. ?The quicker the better? is the latest slogan and as such people rely a lot in technology to make their life better.? The major influence of technology can be seen in banking sector that evolved over the years. Gone are the days when people used to queue in front of banks to deposit a check or fulfill a mere banking formality. But now the trend is of mobile banking. But like most of the stories have a flip side, so thus mobile banking, reports Sienna Kossman of U.S. News.

Mobile banking brings pleasure as well as pain because of the dangers mentioned hereof?

1. Information in Mobile devices is as vulnerable as in computers

It?s a well known fact that feeding extensive private information in public computers is dangerous. So is the case in mobile devices that act as tiny computers. ?Mobile banking apps are connected to wireless networks, and these networks are inherently insecure as they broadcast their messages into the open air,? said Ron Vetter, co-founder of Mobile Education LLC and member of IEEE Computer Society.

Read More:

10 Uncommon Insurance Policies You Have Never Heard Of

Luxury Things On Rent You Haven't Heard Of!