Last week, I wrote about smartphone banking.

But before people became concerned about smartphone banking, there were worries, of course, about the security of online banking. Is it safe to exchange sensitive information with your bank on cyberspace?

Aneth Ng-Lim, Citibank Philippines country corporate affairs officer, wants to assure everyone that online banking is safe and reliable.

“Online banking is safe. Banks adopt a variety of security technology, such as password protection and encryption, to make sure that consumers’ information and accounts are safe,” she says.

She says this is particularly true of Citibank Online, which “is protected with the highest level of encryption to ensure that all account information transmitted over the Internet is secure.” She adds that Citibank Online offers access controls, such as the recently introduced One-Time PIN.

The single-use PIN is delivered to the client’s mobile phone in real time and ensures that nobody but the client is able to access his/her Citibank accounts online.

Lim encourages bank clients to take advantage of the convenience of online transactions. With online banking, she says, people can manage their finances on their own terms, and bank whenever or wherever they want.

“There is no longer a need to drive through traffic and look for parking, just to make it to your bank during branch hours. With online banking, consumers can manage their accounts even when they are on vacation or are simply unable to visit a bank branch. All they need is a computer and Internet connection,” she adds.

Smartphones give clients the option to make transactions through their network or the Internet.

Transactions

Lim lists transactions which can be done online:

Fund transfers. Transfer funds between your accounts or, with Citibank, to accounts of other Citibank depositors.

Payments. Pay a wide range of bills from utilities to insurance premiums. With Citibank, you can set up payment date so the payment will be remitted not on the day you logged on, but on a future date indicated.

Redeem rewards. Online redemption of rewards points allows time to carefully choose the preferred gift.

Incidentally, those who want to know the bank and mobile network offering chances to win an iPad by reloading your phone from your account, which I mentioned last week, they are Bank of the Philippine Islands and Smart. I cannot remember when the promo ends as I cannot find the flyer anymore, but I think it is ongoing until October.

Respect our scientists

I was happy to read recently that Filipino scientists had found scientific merit in the use of the lowly tawa-tawa, which is really more of a weed, in the management of dengue. And I hope Filipinos will listen to our scientists and not allow themselves to be persuaded by the expensive media promotions of multinational drug companies.

I am quite offended by this ad that dismisses almost with contempt the local lagundi as just dahon. Lagundi as a cough remedy is not the prescription of some arbolaryo. It has been tested and proven effective by scientists of the University of the Philippines College of Medicine, particularly Dr. Nelia Maramba, a recipient of The Outstanding Filipino award.

But perhaps the way lagundi is being targeted by foreign competitors is a good thing. This means more and more Filipinos are beginning to see the merit of buying the much cheaper but just as effective (actually even better than some formulations because it is almost completely organic) local pharmaceutical product.

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