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Coop Pank increases security by adding automatic notifications for mobile banking

In the new version of its mobile banking software, Coop Pank has implemented notifications which allow transactions on your account to be monitored in real time on your mobile screen, which helps prevent bank fraud.

Head of daily banking at Coop Pank, Teet Kerem, explained that the notifications give a convenient opportunity to keep track of the transactions on the account and enhance security as any changes on the account can be immediately seen on the mobile screen. Unfortunately, phishing letter scams are becoming more and more frequent in all banks, but if you respond promptly, they can be prevented, or their consequences can be minimised. If you notice any suspicious transactions, you can freeze the bank card through the app right away and contact the bank as soon as possible,” Kerem recommended.

Since October Coop Pank uses the updated version of its mobile banking app. Its users can now subscribe to on-screen notifications about the amounts deposited to and withdrawn from the account. “In the last quarter, the number of regular users of Coop Pank’s mobile application increased by nearly 20% and is approaching 14,000.  “We are constantly working for further usability improvement so that clients are provided with easy and convenient access to necessary services right on the mobile screen,” Kerem added.

To subscribe to transaction notifications, the user needs to download the new version of Coop Pank’s mobile application or update the previously installed app. Notifications are turned off by default, and to allow them, one needs to open the settings (…) menu in the top right corner of the app and turn them on. The user of mobile banking can choose whether to receive notifications about withdrawals only or the deposits as well. You also have to specify the minimum amount of deposits or withdrawals for them to be reported in notifications. In addition to bank transfers, you can monitor card payments and cash withdrawals. The notification will be displayed in the language specified by the user (Estonian, Russian or English). Clicking on the notification will take user to the app home page to see the latest transactions.

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