4 Ways To Improve The Mobile App Security Of Banking Apps

Mobile banking applications have seen a remarkable rise in India post the lockdown phase. People prefer to use the banking application at the swipe of a finger and from the comfort of being wherever they are. Banking processes are simplified with banking mobile applications. However, with the prevalence of mobile banking apps, there is also a rise in the risks associated with the security of critical and confidential data like customer information and financial details.

 

As Digital India embraces the proliferation of mobile devices and increased opportunities for innovation in the mobile ecosystem, there is a surge in online security threats. This necessitates a security system that protects the banks and customer information comprehensively.

 

What can be done to strengthen the banking mobile app security? 

 

Here is an insight into prominent ways to improve the mobile app security for banking apps:

 

Run Time App Monitoring

 

As a banking institution, it isn’t easy to be aware of how people use mobile applications and whether they are used on a secured network. When the Runtime Application Self Protection (RASP) is incorporated into the application, it provides robust protection from all the vulnerabilities that can arise through various sources like unsecured networks, the use of a jailbroken device, the use of Anti-VPN, and proxy networks. With the RASP technology in action, you can be confident that your application is not exposed to any potential exploitation.

 

Comprehensive Application Security

 

Ensuring application security is quintessential for banking mobile apps. We are living in a world where there are more possibilities and more perils as well. Complete application security is essential in preventing hacking, cloning, tampering, injecting malicious code and other exploitations to which your app is exposed to.

 

Protectt.Ai applies a sophisticated security layer that comprises app spoofing, unsecured keyboard detection, hooking frameworks detection, key-logger app detection, and blocking of spyware, riskware, and adware. All these security elements are crucial for mitigating application threats and providing a secure user experience.

 

Fraud Detection & Control

 

As many people prefer to perform banking activities and payment processing through mobile phones and tablets, there is a growing need for fraud-free and safe mobile applications. To maintain steady growth in the banking industry, it is crucial to pay close attention to developing new fraud tactics and utilizing fraud control measures that can protect customer data.

 

Protectt.Ai provides paramount security through functions like SMS forwarders and OTP sharing, key-logger app detection, stealing data through charging cables, screen sharing app, and remote access.

 

In-Time Threat Detection

 

With the advancement in the cyber world, any technology that becomes popular attracts many unwanted threats. Spreading banking malware and Trojans is an extensively used tactic by hackers against financial institutions. With the use of analysis tools, hackers are able to manipulate the banking apps directly in realtime to put malicious code, redirect API calls, get access to user information, and get unauthorized access to user accounts.

 

Banking mobile applications are one technology that necessitates in-time threat detection to prevent colossal threats. As a banking application functions with numerous users, there can be many threats associated with various factors related to the use of the banking application. Protectt.Ai has a live threat detection feature that informs the user if the network is unsafe or if there is any other threat while using the application.

 

Conclusion

 

A mobile banking app is exposed to several bank-side security and user-side vulnerabilities. As cybercrime advances and takes a new shape, it becomes impossible to detect threats quickly without a methodical and consistent banking mobile application security system; this is what Protectt.Ai delivers.

 

Without a doubt, mobile applications and online banking portals have made banking processes convenient for people. Protectt.Ai enables you to embrace technological advancements without the perils associated with them. The best aspect of securing your banking app through Protectt.Ai is that they comply with all the RBI guidelines and security measures for seamless mobile app security. This comprehensive and sustainable mobile application security architecture allows banking institutions to progress with precision and provide complete protection to their users.

 

 

Ujwala

I am a passionate writer. Presentation of information in an interesting way is something I do the best. I write on various topics related to social media, search engine optimization, web hosting, mobile website and marketing and some great interesting stuff.

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