The Urgent Need for Banks to Protect Mobile Banking with App Security
From emulator attacks to malware, SIM-swapping, and phishing, mobile banking attacks are at an all-time high. In fact, the last year saw a 25% increase in malware between Q1 2020 and Q1 2021, and 36 billion records stolen by attackers. With more data being taken, more customers banking on their mobile, and lower barriers to entry for attackers, financial institutions urgently need to adopt advanced app security to protect both customers and their brand. In this video interview, Greg Hancell, Director of Data Strategy – Product Management at OneSpan, discusses what financial institutions can do to help protect customers, their devices and transactions. He recommends removing static passwords, applying advanced application security and malware detection, and ensuring that banks use strong customer authentication.