Entersekt Offers Guidance on Securing the Mobile Channel Amidst FBI Cautions
Entersekt, a global specialist in digital security solutions, today released its updated guidance for financial institutions, Securing the Mobile Banking Channel, a white paper. This follows the FBI warning that an increase in attacks on banking applications by cybercriminals and fraudsters is likely, as consumers stuck at home during the COVID-19 pandemic rely more heavily on these platforms. And with recent research pointing to a marked distrust in banking communications among banking customers in the United Kingdom, it has never been as important for financial institutions to get the security of the mobile channel right.
“Current solutions to digital fraud have failed to alleviate consumer uneasiness around mobile banking security and have had a negative impact on the user experience,” said Christian Ali, SVP product, Entersekt. “Meanwhile, mobile malware is evolving fast, threatening to make the situation worse. If banks want to protect their customers from account takeover fraud and secure their futures in a disrupted marketplace, they must intelligently reengineer user and transaction authentication on the mobile channel as the first, crucial step on that path.”
Entersekt’s free-to-access whitepaper outlines the opportunities presented by mobile, as well as the new set of threats that arise from it, including the explosive rise of mobile malware, vulnerabilities stemming from poor app design and configuration, weaknesses in mobile device ID, as well as flawed authentication. Importantly, it also addresses the necessary balance of regulatory-compliant security and ease-of-use. In other words, how financial institutions can solve the security and user experience equation.
It then lays out the best practices to secure the mobile channel in order for organizations to take full control over their security. These include:
- Avoiding reliance on SMS, OTPs, and native device security
- Harnessing the power of public-key infrastructure on mobile phones
- Building a second, secure channel for user transaction and authentication
- Taking a layered approach to boost security for high-value, high-risk transactions
- Involving customers in securing their transactions
Download Securing the mobile banking channelhere.
Entersekt is an innovator of mobile-first fintech solutions. Financial services providers and other enterprises rely on its patented mobile identity system to provide both security and the best in convenient new digital experiences to their customers, irrespective of the service channel. Whether pursuing compliance through strong authentication and state-of-the-art app security or looking to meet consumer demand for on-the-go information sharing and payment capabilities, Entersekt’s clients always enjoy a competitive advantage. For more information on Entersekt, visit www.entersekt.com.
Heather Thompson, SVP marketing and communications
021 815 2800
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Amazon Project Zero Launches in Seven New Countries11.8.2020 06:00:00 CEST | Press release
Today, Amazon (NASDAQ: AMZN) announced the expansion of Project Zero to seven new countries - Australia, Brazil, Netherlands, Saudi Arabia, Singapore, Turkey, and the UAE - making it available in 17 countries where Amazon has a store. Project Zero combines Amazon’s advanced technology, machine learning, and innovation with the sophisticated knowledge that brands have of their own intellectual property so we can together drive counterfeits to zero. Launched in 2019, Project Zero builds on Amazon’s long-standing work and investments to ensure that customers always receive authentic goods when shopping on Amazon. Over 10,000 brands – from large, global brands to emerging entrepreneurs including Arduino, BMW, ChessCentral, LifeProof, OtterBox, Salvatore Ferragamo, and Veet – have already enrolled in Project Zero. “Amazon is committed to protecting our customers and the brands we collaborate with worldwide,” said Dharmesh Mehta, Vice President of Worldwide Customer Trust and Partner Support
FINEOS Acquires Limelight Health11.8.2020 02:07:00 CEST | Press release
FINEOS Corporation (ASX:FCL), the global market leader in core systems for life, accident and health insurance, has entered into an agreement to acquire Limelight Health, a leading North American provider of quoting, rating and underwriting solutions for group and voluntary employee benefits, for $75M US. The union will provide an end-to-end SaaS core product suite from quote, rate and underwrite through to billing, policy administration, absence and claims management for the global life, accident, and health industry. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200810005814/en/ Michael Kelly, CEO of FINEOS, said: “We’re delighted to welcome the Limelight Health team and their clients to FINEOS, and we look forward to accelerating our combined growth for the benefit of all of our clients, people and partners. This acquisition delivers more product options for our clients as they accelerate their digital transformations an
IFF Reports Second Quarter 2020 Results; Increases Quarterly Dividend10.8.2020 22:05:00 CEST | Press release
International Flavors & Fragrances Inc. (NYSE: IFF) (Euronext Paris: IFF) (TASE: IFF) reported financial results for the second quarter ended June 30, 2020. Management Commentary "Throughout the COVID-19 pandemic, we have continued to serve the needs of our customers and our communities around the world,” said Andreas Fibig, IFF Chairman and CEO. “Our unwavering dedication and commitment through this challenging set of circumstances are indicative of the passion and perseverance of our employees and the resiliency of our business. "The second quarter coincided with peak COVID-19 regulatory actions to date around the world – presenting both opportunities and challenges for our business. We are fortunate that a large portion of our business is in end-markets such as packaged food, beverage, hygiene and disinfection products, all of which have performed well. As we communicated in early June, the categories most exposed to COVID-19 restrictions – Fine Fragrance and Food Service – did expe
CyberArk Named a Leader in Gartner 2020 Magic Quadrant for Privileged Access Management10.8.2020 17:09:00 CEST | Press release
CyberArk (NASDAQ:CYBR), today announced it was named a Leader in the Gartner 2020 Magic Quadrant for Privileged Access Management1, positioned both highest in ability to execute and furthest in completeness of vision for the second time in a row. CyberArk delivers the most comprehensive solution for protecting privileged accounts, credentials and secrets associated with humans, applications and machines across cloud and hybrid environments. As the global leader in privileged access management, CyberArk enables organizations of all sizes to reduce risk, improve operational efficiency and securely adopt modern technologies and infrastructure, including cloud, DevOps and process automation, to transform their business. “This report reinforces that the privileged access management market continues to mature with accelerated adoption,” said Marianne Budnik, CMO, CyberArk. “With privileged access management as its foundation, CyberArk’s Identity Security strategy delivers innovative solution
Silicon Mitus Starts Mass-Producing Automotive OLED PMIC10.8.2020 16:00:00 CEST | Press release
Silicon Mitus, Inc. (Silicon Mitus), an advanced specialist in Power Management Integrated Circuit (PMIC), announced that it has completed the development of automotive OLED PMIC and starts supplying the new products in the global automotive market. Silicon Mitus develops and supplies OLED PMIC with a Korean OLED display manufacturer, which are applied to OLED displays, smartphones, tablets, and laptop computers. Through the addition of the new automotive OLED PMIC, the company is expanding the scope of its business. The automotive OLED PMIC, which Silicon Mitus has started mass-production, is certified with AEC Q100, a standard for automotive semiconductor reliability assessment. Silicon Mitus supplies the OLED PMIC for Virtual Mirror that consists of a camera and an OLED screen to German automakers through global module manufacturers. It also supplies the product for Center Information Display (CID), a screen showing vehicle information inside an automobile, to Japanese automakers. O
Prumo, bp and Siemens Enter Into Partnership With SPIC on Energy Projects in Brazil10.8.2020 15:00:00 CEST | Press release
Prumo, a private Brazilian company controlled by EIG Global Energy Partners, bp and Siemens signed a binding agreement with SPIC Brasil. Under the agreement, SPIC will initially acquire 33% of the GNA I and GNA II LNG-to-power projects, located in Port of Açu, Rio de Janeiro. SPIC has also entered into an agreement to participate in the future expansion projects GNA III and GNA IV, which are expected to be fueled by a combination of LNG and domestic gas from Brazil’s vast pre-salt reserves. The closing of the agreement, scheduled for the fourth quarter of 2020, is subject to the fulfillment of certain conditions precedent usual to this type of transaction, among others. GNA I and GNA II is the largest gas-to-power project in Latin America, with 3 GW of installed capacity — enough to supply energy for up to 14 million households. The complex also includes an LNG terminal with a total capacity of 21 million m3/ day. GNA I, which has an installed capacity of 1.3 GW, is expected to commenc
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom