Comments on: Citibank Gets Into Mobile Banking – Citi Mobile Gives You Account Access On Your Phone

By: noki0

noki0 — Wed, 04 Apr 2007 08:15:44 +0000

any idea on what platform this software will run on? is it java or something? if so, forget it…
most phones I’ve had experience with run java apps like crap.

@xyzzy – not everyone has an expansion card to work with, and Citibank is probably targeting this at the mass market or else it wouldnt be worthwhile for them to release it. It’s not like it’s making them any money and probably not going to convert many new customers. – just my opinion

By: Will Park

Will Park — Tue, 03 Apr 2007 23:29:55 +0000

1) While a browser is not the most secure, text-based payment systems using PIN identification would be secure as well, in my opinion. And text-based payments through ClairMail (http://www.intomobile.com/2007/04/02/text-message-based-mobile-banking-for-north-america-canada.html) uses multi-level authentication (the person has the phone, logs onto system, verification text, one time PIN, session validation, etc.)

2) The software will likely not be executable from a storage card or other expansion media, only from the phone’s main memory. Tens of megabytes are usually partially occupied by ROM and RAM. That last few hundred kilobytes of RAM will turn out to be more precious than gold when you run out and can’t start any new programs.

Keep in mind that ringtones and text messeges/emails are usually stored in main memory as well.

I’m not trying to say you are wrong – software specific solutions are incredibly secure. But it is by no means the only secure solution (http://www.clairmail.com/products/security.php). And proprietary, non-standardized software poses even more problems. Maybe a standardized protocol for online banking would be a good compromise?

By: xyzzy

xyzzy — Tue, 03 Apr 2007 21:54:27 +0000

1) By giving You their software, they take the responsibility of it working. Browser is not necessarily the best e-banking interface.
2) Speaking of precious memory on the phone when You have several tens of megabytes inside device and one or two gigabytes on the storage card is a bit of exaggeration. isn’t it ?