iPhone Banking App Puts Your Account Information at Risk

A Citigroup spokeswoman says that its mobile banking app for the iPhone puts customers' account information at risk.

The iPhone gets yet another black eye. This time, though, it's from Citigroup. The lender said its Citi Mobile app for Apple's iPhone inadvertently saved personal account information in a hidden file on users' phones - drawing new concerns over the security of mobile banking applications.

I know what you are thinking, "An iPhone mobile banking app that puts account info at risk? Tell me something I don’t know." Okay, here’s the "something" you don’t know. A company called BIO-key is taking the wraps off a new finger-based biometric identification solution that they believe will effectively negate the majority of security issues associated with mobile enterprise ID. Here’s a quote from the company press release:

BIO-key International, a leader in finger-based biometric identification solutions, today announced the company will be unveiling its first ever mobile biometric identification and authentication platform that provides enterprises with the ability to capture and transmit fingerprint biometric data to a secure server for identity and authentication of smartphone, laptop, tablet and desktop users on Wednesday, July 28 , from 6:00 to 9:30PM, in Oracle Corporation’s Hospitality Suite at the Burton Group Catalyst Conference held at the Hilton San Diego Bayfront Hotel and Convention Center, San Diego, CA.

You can read the full company press release here.