Security for Mobile Financial Applications

Protect customer data and maintain loyalty with state-of-the-art security

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The Problem

Consumers today are moving toward open banking, and they use mobile apps to complete many transactions.

Yet, more than 50% of the world’s mobile financial applications do not use security best practices.

 Easy-to-use, convenient mobile apps can increase customer loyalty and engagement, which is why leading banks, credit card providers, and other financial services companies have developed mobile apps to serve their customers.

Without proper security precautions, mobile apps represent a security risk to banks, mobile payments companies, and other financial institutions. Beyond serious regulatory and financial repercussions, security incidents can also cost consumer trust and loyalty.

The data processed by and stored within mobile financial applications includes some of the most sensitive and regulated information in the world, including:

  • Bank accounts

  • Credit card information

  • Consumer data

  • Investment information

  • Transaction Data

 

The number of people using mobile banking apps globally is expected to reach 2 billion in 2020—nearly 1 in 3 adults.

Source: Juniper Research

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The Solution: Guardsquare

For mobile financial applications, maximum, state-of-the-art security needs to be the top priority. Guardsquare prevents tampering, reverse engineering and fraud against mobile financial apps. It is easy to deploy and has no negative impact on end-users.

 

blue-check Get & stay compliant

Meet regulations and compliance mandates, including PCI-DSS, SOC 2, PSD2, and international banking regulations to up-level your security and privacy practices, protect sensitive customer data, and minimize your overall risk profile.

 
blue-check Protect against the most common mobile risks

Reverse engineering and tampering rank as two of the top 10 most prevalent security risks according to OWASP. Both of these can become virtually impossible when using Guardsquare’s sophisticated application shielding technology.

blue-check Achieve consumer trust and loyalty

Deploy security best practices to both protect your apps and to provide consumers with the peace of mind they need to do business with you.

Protect your mobile app

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According to consumers who use mobile banking, security was ranked as the most in-demand mobile banking feature.

(Source: Business Insider Intelligence)

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  • CODE HARDENING

    How it works:

    Hardening the code at various levels throughout the application protects against static attacks. Multiple layers of obfuscation and encryption make code resistant to both automated and manual analysis. 

    Techniques include obfuscation and encryption, which defend both the app and its valuable data. 

  • RUNTIME APPLICATION SELF-PROTECTION

    How it works:

    RASP mechanisms monitor the integrity of the apps and their environment in real time. When a threat arises, the apps can terminate the hacker’s session, display security notifications to the developer, and more.

    RASP also ensures communication between the mobile app and server is secure.

Our approach

High-risk vulnerabilities were found in 38% of iOS mobile applications and in 43% of Android applications.

Source: (2019 study by Positive Technologies)

One approach, three platforms

DexGuard

ANDROID
  • Code hardening
  • Runtime self-protection
  • Protection of native and cross-platform apps
  • App optimization
Learn more

iXGuard

iOS
  • Code hardening
  • Runtime self-protection
  • Protection of native and cross-platform apps
  • iOS app optimization maintained
Learn more

ThreatCast

ANDROID & iOS
  • Mobile app security console for real-time threat monitoring
  • Get actionable insights
  • Integrate security into the development lifecycle
Learn more