Mobile banking in Kenya

[The.Black.Templar]

So I have been exploring the mobile banking landscape in KE.

One thing I have noticed is that most of the bank apps do not reveal details about their apps like personal data collection and such.

Now having browsed through enough of them, I have found that these apps are mostly a trial and error, hit or miss activity and some do not disclose any activities at all to their users. Such apps are from stanbic and Coop bank, NIC and NCBA . If you are using any of those, the risks you face are quite high since the data is transmitted unencrypted. KCB app discloses very minimal information, and not full disclosure and it is also unencrypted.

I am impressed though by the apps from Equity bank, stanchart and family bank which have shared full disclosure on their apps, including security details.

What you do with this information is upto you!

 

[Ole Waru]

If there were such glaring flaws i can guarantee you they could have been hacked a long time ago and lot's of money stolen, they're more secure than you think. There's something called security by obscurity whereby the theme is not to give too much details about the system such as what you're mentioning above.

 

[The.Black.Templar]

If there were such glaring flaws i can guarantee you they could have been hacked a long time ago and lot's of money stolen, they're more secure than you think. There's something called security by obscurity whereby the theme is not to give too much details about the system such as what you're mentioning above.

It's a disclosure that is meant to provide the market with confidence in the product....plus banks never reveal the amounts stolen through weaknesses in their systems, so not unless you are an insider, I doubt you would have all the details

 

[Giggz]

I Also don't like Mco-op cash, but looks more secure. very buggy too, not intuitive. Ikwiti is very fluid but can do the same na pesa yako.

So I have been exploring the mobile banking landscape in KE.

One thing I have noticed is that most of the bank apps do not reveal details about their apps like personal data collection and such.

Now having browsed through enough of them, I have found that these apps are mostly a trial and error, hit or miss activity and some do not disclose any activities at all to their users. Such apps are from stanbic and Coop bank, NIC and NCBA . If you are using any of those, the risks you face are quite high since the data is transmitted unencrypted. KCB app discloses very minimal information, and not full disclosure and it is also unencrypted.

I am impressed though by the apps from Equity bank, stanchart and family bank which have shared full disclosure on their apps, including security details.

What you do with this information is upto you!