The Bankwatch

Tracking the consumer evolution of financial services

KeyPoint CU introduces account access via Facebook

In what I believe is a first, KeyPoint Credit Union, based in Silicon Valley introduces a new mobile service via FaceBook.  In effect, this uses FB as a single sign on vehicle.

Finextra: KeyPoint CU introduces account access via Facebook

KeyPoint CU – which serves technology companies including Apple and Google – is the first financial institution to launch account access via Facebook.

The application provides customers with secure, one-click access to online bank account information. The CU says all account information data is encrypted with a minimum of 128 bits and no user data is stored on the Facebook servers.

While I applaud the concept, sign on is as good as the weakest link, and FaceBook’s log in would be easily phished.  Time for caution on this until its better understood, or at least till I better understand.

Written by Colin Henderson

November 15, 2007 at 22:52

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