Like anything, there are banking myths spread by people with fear that they are not valid. Let's discuss some myths v/s reality in Banking:

Your Information Is at Risk When You Use Mobile/Online Banking

Identity theft is a rapidly growing criminal activity, and cybercriminals are working hard to develop increasingly sophisticated methods of stealing your personal information. While there's no way to guarantee your bank account won't be hacked, the notion that you're more vulnerable to identity theft if you utilise online or mobile banking services is false.

These services are provided by banks and credit unions that use strong security procedures to protect your personal information and accounts. This usually entails using secure encryption banking software services with multi-factor authentication, which requires you to submit unique personal information to gain access to your account. Whatever data you send to your bank's server is scrambled to protect your identity.

Banking Does Not Serve All Purposes.

Some people believe that downloading a banking app is a waste of time because most banking transactions are completed in person at a branch. This is a complete misconception, as online bank software provides many features to conduct most transactions online. So, instead of rushing to the bank to pay bills or transfer funds, you can do it all from the comfort of your own home or workplace using the app!

Apps Can Mess Things Up

While we all fumble with our phones from time to time, banking software services ensure that your account information is safe. Even if you make a mistake and push the wrong button, you can reverse the following confirmation check. You can also call customer care to ensure that a mistaken transaction is not completed. Online bank software has a lot of security checks built in to guarantee you don't make any irreversible mistakes when using them.

Finacus, one of the top banking software companies, has created a solution suite to cover the rapidly expanding banking business and combine many facets across corporate processes and databases.

These tools help banks collect and disseminate essential information, comply with regulations, optimize resource usage, improve risk management, improve client experiences, and cut costs.

Take a demo with us to learn more about our solutions that will be beneficial for your banks in assisting your consumers quickly.