Receiving push notifications for banking transactions is much safer than receiving them via SMS. Robert Sabiryanov, co-founder of Bank for Entrepreneurs Blanc, talked about this in an interview with socialbites.ca.
“Push notifications are more secure, because capturing the servers involved in sending pushes is a technically difficult task, as they are sent from Apple, Google or Huawei servers, and SMS are sent through services located on the territory of the Russian Federation. “Push” security is explained by the fact that when sending push notifications, the sent one-time password is stored only with the bank. Also, attacking Apple service and other companies can be a very expensive operation,” said the expert.
According to Sabiryanov, access to the one-time password sent via SMS can be achieved in various ways. For example, when capturing access to the SMS gateway through which the bank sends notifications, or by issuing a duplicate SIM card or using other, more complex methods.
“Also, from a user’s perspective, push notifications are sometimes the only way to get an alert from the bank if you’re abroad. SMS notifications are suitable for users who do not have access to the Internet or have an unreliable connection,” says Sabiryanov.
For additional security, the expert recommends disabling the display of notifications when the smartphone screen is locked. Thus, if the device is lost, the user will have more time to issue a new SIM card and regain access to Internet banking.
The expert concluded that the only situation where “push” might be less secure is if the smartphone has been hacked or infected before.
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