In recent times, the rise of online banking has become shrouded in controversy and uncertainty. As a number of the leading global institutions have experienced highly publicised technological breakdowns, so too consumers have begun to lose faith in the online banking model and the security that it supposedly offers.
Most recently, the Bank of America experienced significant issues when its online banking website crashed last Friday. With consumers unable to access their accounts, budget for the month ahead and pay bills online, thousands took to Twitter to air their frustration and attack the remote banking model. The timing of the crash…