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ANZ responds to App security concerns

17 July 2018 2:41PM
ANZ has rejected some of the findings of a Forrester Research report, which last week failed the performance of the bank's mobile banking app because of concerns over security and a lack of customer support.As reported last week by Banking Day, the respected global research firm gave ANZ's app a score of 47 out of 100 after assessing its performance against the mobile banking services of the three other major banks.While the other majors were given overall scores of 60 or better, Forrester highlighted weaknesses relating to login and security with the ANZ app.The published findings of Forrester's study were published last week after a team of researchers tested the major banks' offerings against more than sixty performance benchmarks earlier this year.One of the report's authors Zhi-Ying Ng said ANZ had "a lot of room for improvement" managing login and security. The bank scored only 40 out of 100 on the security benchmark."ANZ's security score was lower than the other banks because of a lack of security alerts sent via SMS or push notifications when customers change passwords," Ng said."For suspicious transactions there were also no notifications sent via SMS or push notification during our testing."Also, there were no notifications sent via SMS or push notification when multiple failed logins were made to an account."The findings indicate that ANZ is failing to provide security assurance to customers, especially in circumstances where their accounts might be exposed to unauthorised use.Forrester's assessment could trigger an internal review of ANZ's mobile platform, given that the bank's reputation is increasingly tied to the channel's technical integrity and performance. An ANZ spokesman said the bank was surprised by Forrester's findings and defended the performance of the app against some of the assessments."ANZ sends alerts to customers for suspicious transactions via SMS as it reaches more people, which we told Forrester about," the spokesman said."We lock accounts whenever they have three-to-five login attempts."The spokesman did not address Forrester's claim that the bank wasn't sending confirmation alerts when passwords were changed.ANZ scored a miserable 4 out of 100 on a customer self-service benchmark used by Forrester.Ms Ng said the low mark for customer self-service was due to ANZ not including an in-app universal search capability.Also, there was no way for customers to dispute a transaction or report fraud within the mobile app.The ANZ spokesman rejected these findings."We participated in the Forrester review and are surprised with some of the findings," the spokesman said."For example, the ANZ App has one of the most comprehensive customer support sections."It(the app) has a clear title for 'Don't recognise a transaction?" that directs customers to get in touch with the correct area of ANZ."The call button even connects customers to the right person to speak to pre-authenticated, which saves them time."ANZ did not respond to Forrester's finding that it was difficult to locate privacy policies that applied to services delivered through the app.The Forrester testing found that all of the major banks failed to provide adequate information about how customer information was

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