Chase is a major contender to the financial market founded in 1799, they are one of the USA "four big banks". Like many banks around the nation, Chase is one of those leading the technology front. Chase allow's banking customers to set up text message alerts to their cell phone. However, there is a down side, Chase does not verify the customers phone number entered until it may be too late.
Just today we have several reports of people receiving text message alerts that do not own those accounts, or worse yet have never even had a Chase account.
The possibility of a major security breach due to this lack of confirming that their customer is actually tied to this, could become a major issue, if not addressed. Similar financial giants run several checks to confirm a number or email address belongs to their customers including but not limited to credit questionnaires, dialed codes, and in person verification.