Making Money Safer with Changes in Tech
While digital banking has made transactions, deposits and withdrawals more accessible, it has created concerning security vulnerabilities. Online banking information is much more “out there,” but there are new ways to counteract easier access to sensitive data. Modern technology has allowed users to utilize artificial intelligence that will block suspicious transactions, sending real-time notifications right to your mobile app. However, once notified, it is typically up to the user to call the bank to resolve the issue. One fintech, though, has taken security to another level.
photo/ Michael Jarmoluk via pixabay
What if you could provide your own credit card security all within a mobile app? That is precisely what Brim Financial has in mind — no more waiting on hold with customer service to activate your credit card’s security features. With the Brim app, users can turn off online or international transactions while still having access to the physical credit card. Rasha Katabi, founder and CEO of Brim Financial, reiterated the importance of security when asked about Brim’s revolutionary features “With recent technological advancements and the shift to mobile-first, security is of utmost importance,” she said.
With banking security breaches a concern of digital banking users, companies must adapt to quell consumer fears. Cybersecurity continues to be a booming industry, with spending to exceed $1 trillion annually. Companies like Brim Financial are adding additional layers of added security like encryption and two-factor authentication to ensure users are protected.
Millennial and Gen Z credit users are demanding more from their banking and credit institutions, and that isn’t a bad thing. Demand is forcing innovation that makes banking more efficient and secure. “All Brim features, including card lock and purchase notifications, are conveniently available in our app, giving our users access where they want it,” Katabi said.
Author: James Daniel
