5 Critical Strategies for Mobile Banking Security
To the best of their ability, banks need to ensure that their services are available and secured within any mobile phone configuration. Because absolute security is nearly impossible to attain in the mobile world, banks’ back-end systems have to be prepared to detect anomalies and fraudulent activity in the event that a front-end channel has been compromised.
By Ivan Schneider
The increasing use of mobile financial services has been accompanied by increased risk. According to Javelin Strategy’s 2012 Identity Fraud Report, smartphone owners are one-third more likely to have been victims of identity fraud in the past year. Here are five considerations that go into building a truly comprehensive approach to mobile security.
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Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio