Voice-only banking is raising security concerns - KAIT Jonesboro, AR - Region 8 News, weather, sports

Voice-only banking is raising security concerns

U.S. Bank rolling out features that allow customers to do banking with their voice (Source: NBC) U.S. Bank rolling out features that allow customers to do banking with their voice (Source: NBC)
Once skill is enabled, you still have to log-on with your online credentials (Source: NBC) Once skill is enabled, you still have to log-on with your online credentials (Source: NBC)
Smart speaker, which is still relatively new technology (Source: NBC) Smart speaker, which is still relatively new technology (Source: NBC)
(KAIT/NBC) -

Checking bank account balances on smart speakers has increased security concerns.

Many are aware of smart speakers while using them to check weather and traffic updates.

Now, U.S. Bank is rolling out features that allow customers to use their voices to do banking.

“The ability to access U.S. Bank accounts check balances and even make a payment on your credit card,” said Gareth Gaston, a U.S. Bank representative.

Although using voice assistance for financial tasks sounds convenient, many are uneasy about the idea.

"A lot of potential hacks or awkward situations when it comes to money are entirely possible," said Ben Fox Rubin, CNET senior reporter.

Credit card companies like American Express and Capital One also have features on Amazon devices; however, U.S. Bank is the first financial institution to roll out on all three smart speakers including Siri, Google’s Assistant, and Amazon’s Alexa.

You’ll have to set up a four-digit code that you will say out loud, and because smart speakers are still new, cybercriminals are finding ways around security.

"A lot of what tech is these days has a lot to do with convenience verse security, and it's just going to be a matter of finding out what customers really want,” Rubin said.

U.S. Bank said no information is stored on third-party devices.

Customers are covered by a 100% online banking guarantee if faced with fraud or theft while using voice assistants.  

Copyright 2018 KAIT. All rights reserved.

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