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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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