Germany's Postbank has moved to boost security for customers who bank online using their iPhones by introducing VeriSign EV SSL certificates.
VeriSign's Extended Validation Secure Sockets Layer certificates cause the URL address bar in a Web browser to turn green when a site is deemed authentic.
Postbank has been using the technology for online customers since 2007 and has now added to its iPhone offering meaning that when users reach the authentic iBanking site, their Safari browser's address bar turns green, signalling they can conduct their transactions knowing that all data transmitted to the site will be encrypted.
Michael Heinen, business unit manager, direct banking, Postbank, says: "With the launch of the VeriSign EV SSL Certificates for iBanking on the iPhone, we're taking a huge step forward in our efforts to build trust and reassurance for this fast-growing segment of our customer base."
Security concerns have been cited as a stumbling block to wider uptake of mobile banking among consumers. A recent report on mobile banking trends by the Federal Reserve bank of Boston suggested that financial institutions can alleviate some of the concerns by implementing tools and technologies like multi‐factor
authentication and pin passwords on the cell phone, anti‐virus software on the mobile device, and the issuance of prompt alerts for suspicious activity.