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Online Banking
With the general public increasingly purchasing goods online, internet banking as come to stay and more people are using the Internet to conduct financial transactions.
However, the instances of online identity fraud involving online transactions are ever increasing with banks having to increase server security and introduce innovative solutions for the user. Most people are not aware of the extent of online fraud and this results in millions of dollars of loss to banks every year.
Banks can incorporate LockIDPass in the online banking registration and sign-in pages and provide their customers with an option to lock their online account to their computer.
Such a solution would be particularly useful for high net worth individuals who generally access their online banking account from the comfort of their own laptop.
Banks can also internally use this solution to restrict access by their employees to computers located in their premises.