RSS and readers are not ready for confidential information

We have a lot of conversation about RSS feeds and their usage for confidential information, such as balances, and bill payments and other information, that toady is behind security, firewalls, and authentication.

I see RSS feeds as no different than emails.  Many times in a Google search, I have encountered an RSS feed, when I assumed I was clicking through to a web page.  There is such thing as authenticated feeds, but as far as I know, those are not secure.

NetBanker points out BillQ which uses feeds for communication to customers.

And there is enormous potential for feeds in everyday banking which primarily involves simple information queries: What’s my balance? Did my check clear? Was my mortgage paid?

Source: NetBanker 2.0: billQ uses account-specific RSS feeds for bill payment notices

As a final point, authenticated feeds are not accepted today by web based readers, such as Yahoo and Google.

I am not expecting Banks to be doing this until we see security, and authentication solved in a customer friendly way for RSS.  This is one area where business is actually ahead of the technology for a change.

Final note;  what we could see as an interim measure, and I would fully support this, is RSS as a notification, inviting the customer to log into online banking to see the content.

 

2 thoughts on “RSS and readers are not ready for confidential information

  1. It depends on what kind of information you push through the feed, I think. Obviously you can’t put account numbers or anything else identifiable in there, but if it’s just a timestamp and a transaction type description (and maybe an amount) that might be ok.

    You could also push the same alerts that banks push through email/SMS, like notification that a transaction of amount > x has occured, or that a new bill has arrived.

    Honestly, I think the bigger issue for banks will be how to handle the volume that comes along with RSS. You’d have to let people update their readers every 30 minutes at least (otherwise you lose the alert function), so potentially you have millions of people hitting your web and app servers every 30 minutes and, depending on your back end, hitting your data mart or your legacy system as well. For now the low number of RSS users would offset some of that volume, but once it becomes mainstream, that’s a lot for banks — who aren’t exactly on Google when it comes handing to web traffic — to handle.

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