SBS Bank is investing in a digital banking platform that will eventually see its desktop internet banking replaced by a mobile banking app from late 2027.
SBS said it was partnering with the digital banking platform Engine by Starling to deliver a more secure experience, calling itself the first New Zealand bank to adopt the technology.
The bank said the app would offer stronger protection against fraud and scams and allow members to access banking services from their phones. The move is another step towards a banking system increasingly centred on digital access.
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You know where you can stick that app SBS.
BLOODY DANGEROUS!
Forcing Digital ID’s onto the country and the world…
Using a phone app via 5G and later in two more years via 6G means that the ethernet fiber cable is being made redundant and obsolete.
Does anyone think that this is a good idea???
IT ISN’T!
Phones use microwave carrier call towers that can be intercepted, blocked and tracked.
Ethernet is far safer for internet banking w/ a desktop.
Landline phone banking is also safer than using an iPhone or Smart Phone.
It looks like I’ll be closing my SBS accounts…
Are we future Credit Union customers? Possibly, provided that the Credit Unions do not adopt mainstream banking practices that link all banking transactions thru Israel & Mossad Unit 8200…
We’ll see… and look for cash to disappear around 2031.
Ah… the soft approach to digital passports.
A mobile phone is in no way more secure than a properly configured desktop.
The banks want to know not only what you spend your money on but where you go, who you associate with, when you get home and what other patterns their algorithm can determine about you.
The masses will drink this shit milkshake up and think .it’s champagne.
Vote with your wallet
Boycott SBS
SBS will lose customers
Locally-owned banks combined: SBS Bank, Kiwibank, and TSB together represent just 7.4% of the country’s total banking assets
SBS is the smallest of the three
LEAVE NOW
I left SBS twenty years ago.
‘A more secure experience’ at this point an erroneous claim not backed up by any tangible worthwhile evidence.
SBS (formerly Sopra Banking Software, the global banking software vendor)
Spending analysis via a mobile app.
Appears to be more about modernizing the foundation to be AI-ready rather than deploying AI themselves.
They’re a vendor embedding AI into the software that 1,500+ banks already run on.
So if you embrace it or dodge what is coming anyway?
At this point in time, it looks like I’ll be closing my SBS accounts and will seek out a Credit Union that is not planning to use customer Digital ID’s and is App-free on the Smart Phones & iPhones.
Using a phone which is transmitting data over the 5G (and soon-to-be 6G…) airwaves where they can be intercepted and hacked, as opposed to fiber-optic desktops that are much, much harder to hack or spy on is tantamount to running parallel to Digital ID’s that maintain a ‘Social Credit’ score.
Bad shit…!
A land-based fiber-optic phone is the better way to go; a tap detector can tell you if you have a third party listening in, whereas a WiFi / mobile phone cannot!
If you find a good Credit Union – please let us all know thanks