Recent data breaches and cyberattacks leave consumers wondering how one can effectively protect their financial data from malicious hackers or cybercriminals. An obvious go-to answer for financial protection is financial technology also commonly known as fintech or apps. However, before jumping straight into an app or service provider there are some things you should consider to proactively protect your financial data apart from apps.
Things to Consider Before Choosing An App or Service Provider
Before choosing an app or service provider it’s important to remember that no service provider or app will replace good security practices. Some of the best defenses against financial data breaches and cyberattacks are things you can do to proactively protect your financial data include:
Use a virtual private network (VPN) at home and on your mobile devices. There are simple virtual private network services you can use that only require a push of a button before you actively use the internet.
When shopping online always checkout using a secure site; when at all possible avoid purchasing from unfamiliar vendors or websites.
Never send money online to unidentified individuals, especially those who contact you randomly via phone, mail, or email.
Never give out personally identifiable information like your Social Security number, date of birth, or bank account number. Typically, official agencies will not request these details over the phone.
Shred documents that include personally identifiable information.
Never use public terminals to access bank accounts or membership accounts.
Best Apps to Protect Your Financial Data
Now that you are aware of proactive measures, here is a list of apps you can use to provide further protection of your financial data.
LifeLock Desktop and Mobile App
LifeLock by Norton is one of the most popular apps for protecting your financial data. LifeLock boasts a 360-degree concept which means the service aims to protect all aspects of your identity including:
Protecting your identity from cyberattacks and device infiltration
Monitoring threats to your identity
Resolving identity theft issues
Since LifeLock is a Norton product, it’s highly trusted in the cybersecurity industry as it’s one of the original mainstream cybersecurity software on the market to date.
Identity Guard by Aura incorporates financial technology to protect both your identity and financial data. The company’s unique proposition focuses primarily on IBM’s Watson. Watson is essentially IBM’s machine learning and artificial intelligence foundation. As a result, Identity Guard’s major capabilities are rooted in its ability to listen to the web. If you are concerned about monitoring your financial data, Identity Guard may be the right choice for you.
Most consumers are familiar with Credit Karma as an app where you can check your credit score for free without negatively impacting your credit score. However, Credit Karma is more than just a free credit score app. The app also provides free credit monitoring and insights to help you make better financial decisions.
If you have family or children, ID Watchdog may be the right choice for you. This particular financial data protection platform also includes an app as well as alerts. One of the company’s major lures is having more protections for child identity theft protection. Including child identity monitoring and social security monitoring for children.
Mint helps you manage all your finances in one place. Mint is brought to you by Inuit, a popular fintech company. Mint boasts many convenient features. However, most notable is the app’s attention to security. The app is secured by Verisign and uses multi-factor authentication. Suffice it to say, if you intend to access financial data online, multifactor authentication is certainly the route worth taking.
Final Thoughts on The Best Apps
It’s important to remember that most fintech service providers in this day and age will provide an app or website access to carry out their service as this is a fundamental aspect of financial technology. However, the key to ensuring that your financial data is protected is to examine how you store and use your money. Then find the appropriate supporting financial technology to suit your everyday purpose.