Mint, the popular personal finance site that was just acquired by Intuit, just released a major update to its iPhone application (iTunes link). While Mint's iPhone app was always quite good, this new version brings a number of new features to the app that make it more useful and, most importantly, more secure. The new features include the ability to edit transactions on the phone, mobile access to Mint's newly enhanced budgeting features, and the app can now also receive push alerts which can be customized on the service's website.

One new aspect of the app that users will definitely appreciate is the extra layer of security that Mint has now added. Users can now specify a passcode that will keep others from opening the app even if they have access to the phone. In addition, the application now automatically exits whenever a user receives a call or text message.

Hide Your Data Behind a Passcode

Overall, this update brings Mint's iPhone app in line with the company's regular web service. Having access to the budgeting features is a nice addition, as is the ability to edit transactions right on the phone. The most important update, however, is the added layer of security that the application-level passcode now brings. Carrying access to all this financial data around on a phone will definitely make a lot of potential users feel queasy about using the app. This extra level of protection, however, should give users enough peace of mind to give the app another try.