banking-security

Vocabulary Word

Definition

Banking-security refers to the measures banks use to prevent unauthorized access to your account and information. It's like having a personal bodyguard for your bank account.

Examples in Different Contexts

In digital banking, ensuring banking security means safeguarding online accounts and mobile banking apps. A digital banking manager might note, 'Our banking app includes end-to-end encryption to protect your financial information.'

Practice Scenarios

Public-Policy

Scenario:

Banks need to be accountable for protecting consumers. Is our regulatory framework stringent enough?

Response:

Incorporating stricter banking security laws will ensure banks are more accountable.

Customer-Service

Scenario:

Many customers are fearful of online banking because of potential frauds. How can we educate them about our security measures?

Response:

Let's create some easy-to-understand banking security guides which can be shared with customers.