Security Risks Associated With Mobile Banking When Essay

Excerpt from Essay :

security risks associated with mobile banking?

When it comes to mobile banking, the most significant security risk is being hacked. People do occasionally try to hack into bank computers, but it is often easier to hack wireless devices and networks. When a person does his or her banking on a mobile device, the potential for people to be able to hack into it is greater than it would be on a more secure device, such as a home computer. Additionally, the places where mobile devices are used makes them vulnerable when it comes to banking. For example, using a mobile device at home on your personal network with password protection is a relatively safe thing to do. Using a mobile device on an open Wi-Fi connection in the local coffee shop is much more dangerous, because these types of networks are not protected and it is easier for people to get your information as you transmit it back and forth on an unsecured network.

There are other risks, however, and one of those is simply allowing people to see your personal banking information because you're inputting it on a device that is out in the open. Many people who are using mobile devices are very unaware of their surroundings, because they are focused on the device itself. That can cause them to stop paying attention to people who may be standing or sitting too close to them, or who may be looking over their shoulder as they input sensitive information, such as their banking username and password. It is not always easy to protect banking information on a mobile device, which is why many banks state that people should use only secured computers and Wi-Fi networks when they log on to their account. If a person must use mobile banking options, he or she should be careful of the network used and who is in the immediate area.

2. How is targeted advertising done wirelessly?

Targeted advertising is very important for companies in an increasingly global society. It is generally done by using code words in emails and internet searches, along with collecting information from what people apply for online and what kinds of sites they sign up for. Many companies have in their terms of service and other information that cookies can be placed on a person's computer to track them, and that they may receive advertisements from the company they did business with and its partners or related companies. With that in mind, this advertising can also be done wirelessly. So many people are using their wireless devices to surf the internet and check email today that advertisers know they have to reach out to these people. They send them the same types of ads that are seen on wired devices and traditional computers, but they also provide them with text messages and other means of showing them the value of what they are trying to sell.

When a person conducts searches and checks email on his or her wireless device, that person is opening the door to advertising. Signing up for new sites, downloading software, or downloading a new app can also create an avenue for advertisers. Most people who download something do not read all the terms that come with it, and those terms often say that advertising is part of the arrangement. Apps are among the best ways to create advertising opportunities, because so many people have numerous apps on their wireless devices. They want to map out their route, play games, and get information, so they download what they need in order to continue moving forward with their life. Then, the companies they have downloaded apps from and the partners of those companies send them advertisements that are targeted to the apps they have already downloaded. That gives them more things to enjoy, and helps the companies make money.

3. How has Web 2.0 changed the behavior of Internet users? Why is Web 2.0 referred to as the Social Web?

Web 2.0 has changed the behavior of internet users because it caused the web to change from static pages only to dynamic pages and user-generated content. There was also a stronger aspect of attachment in it through social networking and social media sites. Internet users are no longer required to just get online to read about something. They can now read and respond. There are many options for comments on a number of articles and web pages, and internet users can also create their own pages and sites which they can use to offer their opinions on anything and everything that matters to them. Some people build professional sites that way, and others prefer to have blogs where they can just write about the important things in their life or their feelings about the world. Because of the differences seen in Web 2.0, people are seeing the world in completely new and unique ways, and they would never have had that opportunity with static web pages and no interaction.

The social aspect of the Web is also very strong. Social media sites come and go, but many of the strongest and most popular ones have been around for years. People like them because they can interact with others in their community and all over the world. They are able to voice their opinions, and see things they may never get the opportunity to see in person. People have become famous, and their pets have become famous, just from posting pictures and videos online, or from voicing opinions that are deemed important or unique. There is no indication that the social aspect of the Web will fade or even be reduced anytime soon, as there are many reasons why it means a great deal to the people who use it.

4. Why do businesses find ROI metrics to be so compelling?

Businesses are very interested in return on investment (ROI) metrics. They find them compelling because they can be used to determine where money is best spent and what should and should not be avoided. When a business plans to do something, it generally does so by creating a market analysis and determining what it should offer to which group of people, in what capacity, and at what price. By doing that, a company can determine how best to target its market and how it is going to make money. That is very important, and can provide a business with a great deal of excellent information about its customers. That is where ROI metrics come in. A business makes an investment when it markets to potential customers. That investment is often money, but it could also be other things, such as time or resources. In many cases, there is a combination of things that is used to reach out to customers, and a company has to know whether the investment it makes is worth it.

By performing an analysis on the ROI information, the company can see where they spent money that gave them a good return, and what was not as valuable. That can keep them from spending money needlessly and frivolously in the future, and can also help them focus their efforts on the target market that is most valuable to them and most receptive to what they have to offer. In some cases it is the target market that must be changed. In other cases, it is the way the information is presented to that target market that is most important. In other words, the message matters, but even the best message is not going to be well received if it is presented in a way that customers do not respond to very well. Companies that focus on ROI metrics can consider these kinds of issues and focus on making…

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