Software authentication in mobile banking a self-defending future

White paper one 2016

I SOFTWARE AUTHENTICATION IN MOBILE BANKING: A SELF-DEFENDING FUTUREFIVE

THANKS TO EVER-EVOLVING AUTHENTICATION METHODS THAT EXPLOIT THE SOPHISTICATED TECHNOLOGIES OF TODAY’S SMARTPHONES AND MOBILE DEVICES, SOFTWARE AUTHENTICATION CAN PROVIDE HIGH LEVELS OF SECURITY AGAINST THE LATEST MALWARE THREATS

I SOFTWARE AUTHENTICATION IN MOBILE BANKING: A SELF-DEFENDING FUTURENINE

CONCLUSION

The mobile threat landscape is an ever-changing one, and mobile banking can no

longer enjoy the relatively untouched status that it once did. Cyber criminals are

rapidly becoming more savvy when it comes to targeting mobile customers, and

have already experienced a significant degree of success in their early efforts.

With customer demands for a better user experience and higher functionality

driving an increased uptake in software-based authentication, it is essential that

banks take the necessary measures to guard both their customers’ data and their

own reputations from the impact of a serious data breach. It is too big an ask to

monitor the devices of every mobile banking customer to see if they are being

vigilant when it comes to keeping their devices secure. Embracing software to

make mobile banking apps safe from external intrusions represents both a logical

and economical step forward:

banks can avoid involving themselves in the murky world of individual device security, by instead concentrating on developing a cost-effective app which is fully capable of protecting itself.

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