Why Mobile Will Be More Secure Than Online Banking

Mobile devices have a number of features - some that are built-in and some that are not - that will help make them more secure against fraud than the online channel.
October 26, 2012

As Bank Systems & Technology detailed in our Sept. digital issue, the rise of mobile banking will inevitably lead to a rise in fraudsters' interest in the mobile channel. Malware attacks are already showing up in the mobile space. Fortunately, there are a number of security attributes inherent in modern mobile devices that have the potential to make the mobile channel more secure against fraud than the online channel has been. Sridhar Solour, director of mobility and cloud services at HP, says he is confident that these mobile security features will make life much more difficult for those looking to hack mobile devices for banking information. Solour gave BS&T an overview of some of the security features that mobile devices provide that can repel fraud attacks. He broke those features down into five security attributes of today's mobile devices: context, tactile interface, sensors, cloud and social media.

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