Nubank will have a mode to restrict out-of-home app usage

On Thursday, October 13, the digital bank Nubank launched a security tool that allows users to limit the value of transactions through the app when they are away from home.

Called “street mode”, the mechanism allows the definition of a secure Wi-Fi network and restricts the use of the application.

The bank states that the action adds “a series of protections from the consequences of criminal actions.”

In addition to setting a secure Wi-Fi network, the mode enables the user to set a maximum amount for TED, Pix, or payment slip transactions at another address.

“The tool helps in the protection from the action of criminals who try to make banking transactions in case of access to your app,” the statement said.

According to Nubank, testing will begin in the coming days for a portion of customers and “will serve as the basis for the wider rollout in the future.”

“Innovation is in Nubank’s DNA. Our challenge is to provide peace of mind to customers by avoiding and solving their pains, always staying one step ahead.

“In the face of today’s public safety issues, prevention is more important than ever.

“Street Mode is an innovative, intuitive, and simple feature, and another layer of protection on the very robust system we already have,” says Cristina Junqueira, co-founder and CEO of Nubank in Brazil.

HOW STREET MODE WORKS

To use the new tool, you must enter the “security” field in the Nubank app, click “security mode,” and follow the instructions to set a maximum value of transactions and then a secure Wi-Fi network to perform them.

The setting can only be done once. Whenever you disconnect from the secure Wi-Fi, “street mode” will be enabled again without setting it up again.

If the set limit is exceeded while using the application, facial recognition authentication with proof of life will be required for authorization.

To modify the limits, it is necessary to go back to the initial configuration and redo the procedure with facial recognition.

With information from Poder360

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