The Wild West of Mobile Banking Security
“I don’t bank on my phone” cries out our VP for Finance, “it’s not secure!” We must be at another industry event then – it’s a statement he regularly makes.
We’ve always believed that Mobile Banking was a wild west when it comes to security; but we wanted to test that belief with some real data. To better understand the current state of security within the mobile bank industry, UL and Inside Secure undertook joint research to give a snapshot of the industry today.
Applications were selected by a criteria designed to give an even split across geographies, and between challenger and established banks. These applications were then given to the security labs within UL and Inside Secure. The labs used automated tools and expert static analysis to score the applications.