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Citibank iPhone app ‘Accidentally Saved Personal Information’

Posted in iPhone by Conner Flynn on July 26th, 2010

You are not always as safe as you think you are. Citibank revealed that it’s U.S. iPhone app accidentally saved personal information including account numbers. At least the company did the right thing and owned up to this security flaw.

In fact, they have already rolled out an updated iPhone app that patches the problems. According to Citibank, this flaw only affected users of their mobile banking app. Credit card customers who use Citibank’s services via a separate iPhone application were believed to be safe.

Nokia Money payment system

Posted in Nokia by Conner Flynn on August 26th, 2009

Nokia Money payment systemNokia just introduced us to their new payment system, which is simply called Nokia Money. The new payment system is set to offer banking to the poor and those in developing countries who don’t have the kind of banking choices that we have.

It’s based on Obopay’s existing cellphone payment system in North America and Europe and will use current cell phone features to pay for items in stores. You can also use it to pay bills, other people etc. Nokia Money will be formally unveiled at Nokia World on September 2nd and will be available early next year.

IBM develops ZTIC USB stick for secure internet banking

Posted in IBM by Conner Flynn on March 4th, 2009

IBM develops ZTIC USB stick for secure internet bankingZTIC (Zone Trusted Information Channel) is a USB stick designed for secure online banking, even if your computer is crawling with viruses. The stick was developed in Zurich by IBM and opens an SSL connection with the bank’s servers, keeping the data safely on its side (it has no storage of its own) and displaying the transaction details on the hardware.

Even if your connection is breached, the hacker will be exposed on the device’s display. Pricing and availability are still up in the air. IBM hopes to entice banks into buying it for online banking, which saves banks money on personnel costs but is constantly under siege by hackers.