JT Keating, VP of Strategy
Mobile banking has revolutionized the way the world banks. This revolution has resulted in, massive investments in mobile app development. While this improves the customer experience dramatically, it brings to light the fact that mobile devices are highly vulnerable.
Mobile devices are constantly being attacked through unsecured or unknown networks, phishing attempts, mobile malware and device attacks, all aimed at compromising the device and, in the case of banking, increasing the likelihood of fraud. “A bank’s mobile app exists in a dangerous environment—where it practically has a bulls-eye painted on it,” points out JT Keating, VP of Strategy at Zimperium.
Today, banks need to accomplish two key goals around mobile banking. Primarily, banks should deliver mobile banking applications that are easy-to-use, customer-friendly, provide robust protection for both the user and the bank, and are free of security or privacy concerns. Secondly, the apps should remain secure even while functioning in unsecure networks or environments. “Delivering mobile security is our forte. A key component of that is mobile applications and we help our customers build the most secure apps possible,” says Keating.
Through its developer-focused solution, zIAP, a software development kit (SDK) solution, Zimperium provides app developers with machine learning-based, automated, and integrated app security. “Mobile application developers can embed the zIAP SDK in their apps in less than 10 minutes to deliver enterprise class and scale leveraging the patented z9 mobile security engine,” explains Keating.
A bank’s mobile app exists in a dangerous environment
One of Zimperium’s clients, a major banking firm, implemented Zimperium’s zIAP to protect their mobile apps on customers’ devices while also reducing fraud. In the first month, zIAP detected more than 900,000 threats in over half a million devices. The bank reported that zIAP gave them the visibility to prevent potential fraud of over $1billion.
“With security embedded in their mobile apps, banks can focus on innovations that will delight customers, increase customer loyalty, and unleash the full potential of mobile banking,” says Keating.
Besides safeguarding a bank’s apps and its customers, banks and other enterprises can deploy Zimperium zIPS—a mobile intrusion prevention system application—on their employees’ mobile devices to provide them with machine learning-based, on-device protection. Once deployed, zIPS begins protecting the mobile device against any network, app, device, and phishing-based attacks even in instances where the device is not connected to a network.
As the threat landscape continues to evolve with new techniques and attack vectors, Zimperium will continue to provide zero-day protection to mobile devices and fortify security against all possible mobile threats.