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Traditional banking applications are still the leading target for hackers, with over 1,100 compromised apps accounting for 61% of all targets. Emerging fintech and trading apps make up the remaining 39%. It is crucial to prioritize mobile application security in the banking sector. #mobilefirstsecurity #mobilesecurity #applicationsecurity #appsec #bankingsecurity #bankingsector #vulnerabilities https://lnkd.in/eQpMTXrP

Biometric authentication technologies are at the forefront of reducing fraud in banking apps. https://hubs.li/Q02xXlWM0 By using unique biological data, banks can effectively prevent unauthorized access and fraudulent activities. Tech founders should leverage these advancements to protect their users and enhance app security. #Fintech #FraudPrevention #Biometrics #Security #TechFounders

Biometrics in Banking: How Fingerprint and Retina Scans are Reinventing Financial Security 🌟 Exciting Announcement 🌟 🔒 Reinvent Financial Security with Biometrics in Banking! 🔒 In today's digital world, protecting the security of banking systems is vital. Traditional methods like passwords and PINs are no longer enough against cyber threats. That's why financial institutions are turning to biometrics, like fingerprint and retina scans, to enhance security and create a seamless user experience for customers. 🤝 Discover how biometrics are transforming the banking industry in our latest blog post! 💡 We explore the benefits and challenges of using fingerprint and retina scans to verify identities and ensure financial safety. 🚀 Read the full article here: [Biometrics in Banking: How Fingerprint and Retina Scans are Reinventing Financial Security](https://ift.tt/9mDc57x) 📚 Stay ahead of the game and help shape the future of banking security! 💪🏦💻 #biometrics #banking #financialsecurity #fingerprintscans #retinascans #digitalera #innovation #blogpost https://ift.tt/9mDc57x

📱Over recent years, the adoption of mobile banking has led to significant and transformative changes within the global financial services industry. In the post pandemic era there has been a ~70% increase in customers using digital banking channels, propelling the global mobile banking market from $692.5 million in 2021 to an anticipated $1.3 billion by 2028. However, as the use of these channels increases, so does the number of fraud related incidents. Since 2020, about one in every 20 fraud attacks is associated with a mobile banking app.📈 In our latest blog, Navpreet Parmar outlines the best practices Financial Institutions must adopt in order to strengthen their security measures and position themselves strongly against potential risks, including: ➡️  Understanding your mobile banking application and its limitations ➡️  Forming partnerships with the right technology vendors ➡️  Having security and fraud management teams in place 💡 Read the full blog and the crucial strategies to adopt here: https://lnkd.in/ezxFUB6x #MobileBanking #Cybersecurity #Fintech #SecurityStrategies

Excited to announce the release of this years Zimperium Mobile Banking Heists Report that takes a deep look at the expanding threat landscape of threats/risks targeting the apps and devices utilized within the Banking/Finance industry. This is a call to action as the threats continue to impact a disproportionate number of banking customers. How is your mobile security strategy fairing? Download this report today! Zimperium #MTD #MobileThreatDefense #MobileSecurity #CloudSecurity #FinTechSecurity #bankfraud #cyberawareness #ThreatReport

Biometrics, including fingerprint, facial, and voice recognition, are being increasingly used for banking security, with data showing that 44% of Americans prefer them over passwords.  Biometrics can offer a more convenient and secure banking experience, especially as 75% of people don’t adhere to password best practices and 4% often repeat weak passwords. Biometrics can also aid in regulatory compliance with Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations. 🌎 The rise in breaches and phishing scams, as well as the emergence of AI-generated deepfakes, continues to push industries towards innovative authentication methods. Banks must strike a balance between providing top-notch security and a convenient user experience, says Quintin Stephen of Giesecke+Devrient (G+D). +  What do your customers want from their payment card, digital apps 💳 📱 ? G+D is here to help, let's schedule a brief virtual coffee. Source: https://lnkd.in/d2UY6ujw #banking #Giesecke+Devrient #payments #consumerpreferences #fraud #biometrics #security

Biometrics in Banking: How Fingerprint and Retina Scans are Reinventing Financial Security Biometrics in Banking: How Fingerprint and Retina Scans are Reinventing Financial Security In today’s digital age, where financial transactions are increasingly conducted online, ensuring the security of banking systems has become a top priority for financial institutions. Traditional methods of authentication, such as passwords and PINs, are no longer sufficient to protect against sophisticated cyber […] https://lnkd.in/dpBewGiS

💳 Since 2014, the percentage of the global adult population able to send or receive digital payments has surged from 35% to approximately 65%. With this expansion has also come heightened security concerns. 🛡️ Biometric security has emerged as a powerful solution in the fight against fraud, leveraging unique physiological or behavioral characteristics to fortify banking authentication processes. 🔒 At IDgo, we're pioneering this transformation, empowering financial institutions a simple way to enhance security, streamline operations, and foster trust among customers. 💼 By integrating biometric authentication seamlessly into digital banking services, we're helping credit unions and banks stay ahead of cyber threats and ensure regulatory compliance. Together, we're building a future of banking that is not only secure but also seamlessly interconnected. #BiometricAuthentication #FraudPrevention #CreditUnions

Just completed reading the Mobile Banking Heists Report for 2023. It is a must-read for all people who work in mobile security and those in finance as well. Official Link: https://lnkd.in/g8nKFySc The report – conducted by Zimperium comes with an extensive analysis of the mobile banking apps threat landscape as it evolves day in and day out. This stresses the financial fraud increasing rate and the imminent requirement of adequate financial protection. undefined - 29 malware strains targeting more than 1,800 banking mobile apps - Banking trojans attack a fifth of smartphones in 187 countries. - Out of 94 breaches, 69% of them are financially driven, with mobile banking being a prime target. - 61 countries are dealing with evolving tech-savvy threats. The report engages with the new banking malware families, their property, and their outcome on companies owners and consumers. Furthermore, it shows #technologies that are currently under development or are being used in some attacks such as #MaaS, automated transfer systems, telephone-oriented, or even screen-sharing abuse. When #mobilebanking is growing fast, it is necessary to figure out the anatomy of mobile banking malware and to stay ahead of those who are developing new types of threats. This report is a guide for mobile security and product officials so that they will know how to design appropriate mobile app #security strategies. I recommend reading the 2023 Mobile Banking Heist Report for an in-depth awareness of the changing environment of the threat and security and safety of mobile banking apps. MEHDI S. Zvonimir Filjak David Jimenez Maireles Sam Boboev Igor Babych Maximilian Salomon Saleh ALhammad Prasanna Lohar #MobileBanking #Cybersecurity #FinancialFraud #MalwareThreats #Zimperium #MobileSecurity #BankingTrojans

Biometrics in Banking: How Fingerprint and Retina Scans are Reinventing Financial Security Biometrics in Banking: How Fingerprint and Retina Scans are Reinventing Financial Security In today’s digital age, where financial transactions are increasingly conducted online, ensuring the security of banking systems has become a top priority for financial institutions. Traditional methods of authentication, such as passwords and PINs, are no longer sufficient to protect against sophisticated cyber […] https://lnkd.in/dpBewGiS