During the turbulent period which rocked global stock markets last week, technology analysts reported that smartphone apps were one of reasons behind glitches on financial websites.

Kendra Thompson, an Accenture managing director, said that most financial systems were not built to handle requests from the rapidly increasing number of financial apps on mobile devices which users often use to check balances or watch market indexes.

The problem is further compounded when users repeatedly refresh the website in instances of access issues. Chief strategist for financial services at Akamai Technologies Inc. even called the adoption of mobile finance apps as the top risk factor that brokers and investment firms face since consumers can now log in with just a thumbprint.

Source: Reuters

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