The world's leading financial institutions are adopting “Mobile First” strategies to leverage the game-changing platform that has revolutionized banking and become the customer’s channel of choice. But while mobile presents enticing business opportunities, it also stretches the boundaries of the threat landscape, dramatically expanding the attack surface and becoming an increasing threat to the mobile banking revolution.
Applications are a favorite target. In fact, research suggests that 80% of successful breaches target the application layer. And with the explosive growth of the mobile channel and user demand for anytime/anywhere access to mobile services, mobile apps are stretching the boundaries of security, and putting them squarely in the crosshairs of malicious attacks.
Consider that 60% of mobile malware specifically targets financial information on mobile devices, and that 95% of the tested apps has at least one vulnerability. With the right solutions in place, mobile banking security is a challenge that every bank can overcome.