Voice assistant banking raises concerns

World

U.S. Bank announced new features utilizing virtual assistants, becoming the first financial institution to offer banking through Amazon’s Alexa, Apple’s Siri and Google’s Assistant. 

 Users can check balances and pay bills, but the ability to do sensitive tasks through a smart speaker is raising security concerns.

 “A lot of potential hacks or awkward situations when it comes to money are entirely possible,” said Ben Fox Rubin with CNET. 

 In order to access any banking features, users will have to log in with their online credentials and set up a four-digit code that they’ll say out loud. It may be tempting, but experts say it’s not a good idea to make your smart speaker code the same as your other PIN numbers. Voice authentication may replace the pin number in the near future. 

 U.S. Bank says no information is stored on third party devices, and that customers are covered by a 100 percent online banking guarantee in the event of fraud or theft using a voice assistant.

 Read more: http://bit.ly/2MQ1udN

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