It’s hard to escape the world of applications. They have made their way into almost every area of our lives, including finance and banking. But what do you need to know about these new developments and should we be worried about security? Jonathan Booty, IT Systems Manager at Bulley Davey, has some answers
More of us are using apps to help us do thing quicker and more conveniently. In fact, there are so few things left that we can’t do with an app that we have to consider whether or not we should be using an app or not! Apps have the potential to suck away our time (think Angry Birds, Facebook etc.), which can be a downside. When used effectively though, apps can be used to complete tasks more efficiently and save time. This is especially the case for finance and banking apps that allow you to pay bills, view and organise your accounts and shift money around at the touch of a screen or the click of a button. There are even apps that can scan receipts and invoices via your camera and then record the receipt for your expenses or pay the invoice via your banking app.
WHAT ABOUT SECURITY?
The security of your smartphone is more important than ever. Smartphone security has improved dramatically since four-digit PIN codes and can now include complex passwords, fingerprints or even facial recognition. Apps are the direction that many banks are heading in and a certain amount of apprehension is healthy to make sure you use these apps securely. Many banks offer cyber security advice and assistance to ensure their customers stay safe. Our advice is to make sure that the device that you use a banking app on has strong security features. If you are unsure then take advice from someone you know and trust, such as a family member, or talk to the bank directly.
BULLEY DAVEY APP
The Bulley Davey app is designed to include features to save our clients time and help them keep track of information relating to their finances. The benefits of using accountancy apps, certainly in our case, is the ability to record mileage and receipts electronically, or do currency conversions. Our clients can contact us via the app by telephone or email and can book a meeting with their accountant. The app also links to the secure document portal we use to share documents safely with our clients.
START THEM YOUNG
The days of visiting your local bank on the high street seem to be numbered, with banking apps quickly reducing the need to ever visit a branch. Cyber security awareness is becoming an essential skill, especially with criminals attempting to defraud people. Many schools already teach internet security to help children use social media safely and it would be good to see schools teaching our young ones how to take care of their finances safely online too. You may not think that your bank or accountant would provide you with assistance regarding how to use apps but it is in their interest for your financial affairs to be secure and efficient. At Bulley Davey we are more than happy to help our clients get the best from their banking and finance apps. After all, using these apps effectively can save us all time and money.
Bulley Davey www.bulleydavey.co.uk
Search ‘The Bulley Davey Hub’ on your app store to download Bulley Davey’s new app now.