Online Banking: Does Convenience Come at the Cost of Security?

Banking online with Southside Bank is convenient. Wherever you have internet access, you can view transaction history, transfer funds, view statements, and more. Also, our mobile app makes it easy to deposit checks, pay bills, and open an account.

Southside customer Judy M says, "We've had a checking account with Southside Bank for many years. Online banking and the mobile app are easy to use. Definitely recommend!"

But is banking online secure? Are there risks involved? 

While convenience is something Southside Bank seeks to provide our customers through our innovation initiatives, it is never at the cost of our customer's financial security. Since introducing our online banking platform in 2000, our team has been committed to ensuring digital banking security and preventing customer fraud. Carlos Renteria, Chief Information Security Officer at Southside, says, "Now more than ever, online security remains our priority. Our team is committed to safeguarding our customers' information while also providing them with guidance on preventing fraud and data theft. Together, we can stand strong against growing online threats."

Online security isn't just something our team members provide; it's a collaborative effort with our customers. Preventing fraud is a team effort, and there are steps you can take to make your online accounts more secure. Russell Estrada, Corporate Security & Fraud Prevention Officer at Southside, offers some tips to help prevent fraud online:

• Do not allow anyone to remotely access your computer or cellular device, and be wary of calls from someone claiming to be with a tech support company. Scammers are known to inform their target victims of a "big hack" that has affected their bank accounts and instruct them to withdraw money from their account and take it to a Bitcoin ATM or wire transfer to an unknown person to "keep your money safe."
• Be wary of phone calls from potential imposters pretending to be with your bank's fraud department, and never share your online login ID or password with anyone.  Never give verification codes sent to you via text message to anyone contacting you over the phone.  Always contact your bank or merchant directly using a verified phone number. 
• Enable security alerts and two-factor authentication on applications that offer the feature.  Update your email and financial app passwords frequently.  

So, does convenience come at the cost of security? Not at Southside Bank. As a matter of fact, those two traits don't have to be mutually exclusive. It is possible to have convenience and security at your bank – it just takes work – and our team is dedicated to doing the work. Will you join us in being proactive in preventing fraud? 

You can read more cybersecurity tips in this article: southside.com/blog/post/personal-cyber-security-tips.