Of all the things you want to keep safe, your financial information is surely near the top of the list. Online banks know protecting your financial information is serious business. They use a combination of cutting edge technology and industry best practices to protect your personal and financial information.
Anti-virus and anti-malware protection. These programs help detect and prevent viruses and malicious software. Banks use up-to-date programs to weed out malware and prevent viruses from spreading.
Firewalls. Firewalls screen data coming in and out of computer networks, blocking unauthorized access and stopping traffic from unsafe internet sources.
Secure Socket Layer (SSL) encryption. SSL encryption creates a secure connection with your browser when you log in, fill out an application, register for services and more. And although the technology is sophisticated, it’s easy to make sure that SSL encryption is active on the page you’re using. Just look for the lock symbol at the lower right-hand side of the page or look for “https://” at the beginning of the page’s URL/web address.
Cookies. By placing a cookie (a piece of text stored on a user’s computer by their web browser) on your computer after your initial login, banks can then recognize or authenticate your computer when you log in to your account again. If you use a new computer to log in to your account—or you erase your cookies—you will be required to enter additional information at the time of your next login.
Multi-factor authentication measures. Multi-factor authentication can take many forms and requires the use of two or three different authentication factors. For example, you likely enter a password or PIN when you log in to your bank’s website. If the site needs additional verification from you, it may prompt you to answer a question that only you know the answer to or send a security code to a device that you’ve registered. This is also known as 2-factor or multi-step authentication.
Credential confidentiality. Banks do not share your usernames or passwords with anyone. (And you shouldn’t either.)
Automatic logout. Most banks automatically log you out of your secure session after a period of inactivity to help prevent others from seeing or using your online accounts.
Biometric authentication. Many banks have integrated fingerprint authentication into their mobile banking apps. Other forms of biometric security measures include “eyeprint” verification and facial and voice recognition. These verification methods are easy to use and hard for criminals to replicate.
Limited liability. Most banks offer some type of security guarantee. Depending on the terms of the policy, your liability for unauthorized transactions is limited. In other words, if you report unauthorized transactions on your account in a timely manner, the charges may not be your responsibility.
In addition to these common practices, at Ally Bank we go further, integrating multiple security measures such as:
Online and Mobile Security Guarantee: You will not be liable for any unauthorized online or mobile banking transaction as long as you report the unauthorized transaction by calling us at 1-877-247-2559 within 60 days from when your statement is made available.
Free anti-virus and anti-malware software. Ally Bank customers can download and install Webroot® SecureAnywhere™at no cost on up to three devices.
Account monitoring. Our company monitors online account activity for potential fraud.
Site and app review. We review web sites, app providers like the App Store℠ and Google Play™, and other areas online to detect phishing, malware and fraudulent apps that are targeting Ally and its customers.
It’s a good idea to know what your bank has in place to protect your personal financial information. It’s also important to understand there are things you can do to keep your information safe, too, so you can go about your online business with peace of mind.
Last Edited: December 4, 2017