Is Digital Banking Safe? Which is safer, Fintechs vs Incumbents?

Which?  | Chiara Cavaglieri | Jan 2021

online banking security rating - Is Digital Banking Safe?  Which is safer, Fintechs vs Incumbents?Which? has rated 16 of the biggest UK banks on the security of their online banking systems. How does your bank's online security measure up?

Best banks for internet banking security With so much of our banking now done on our computers and smartphones, it's important that those services are secure. Every year, we rate the security of the online banking and mobile banking services from major banks and building societies. In our latest test, volunteers carried out a series of tasks, while a team of experts from cybersecurity firm 6point6 tested each bank's defences.

See:  Fintech & Cybersecurity: Key Risks and Solutions

The table below shows how 16 banks and building societies fared for the main factors we tested in September 2020.
The percentage figures illustrate how important that area of security was to the overall test score.

NCFA Jan 2018 resize - Is Digital Banking Safe?  Which is safer, Fintechs vs Incumbents? The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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