Our data shows that less than 50% of the more than 3,000 financial apps on the Android marketplace are using proper mobile application security.
The result? Financial services institutions leave themselves open to reverse engineering, IP theft, fraudulent app clones, and sensitive data loss, among other negative outcomes.
Guardsquare’s security solutions help mitigate these issues, further proven by our EMVCo Certification as a Software Protection Tool (SPT) in five categories:
Through the certification process, Guardsquare demonstrated its position as an industry-leading mobile application security provider. With Guardsquare, banks and financial institutions can ensure their mobile apps are protected against a variety of cyber threats, like reverse engineering and tampering, that can cause brand damage and financial loss. This, in turn, can give the financial services organization’s customers confidence that their financial data, including mobile payment information, is in good hands.
Contactless payment applications play a central role in payments, making mobile app security and compliance a requirement for every stakeholder involved.
EMVCo is a global technical body that manages and evolves EMV Specifications and supporting testing programs.
Collectively owned by American Express, Discover, JCB, Mastercard, UnionPay and Visa, EMVCo ensures card-based payment products work together seamlessly and securely worldwide through a standardized payment structure. This includes creating global interoperability to combat card fraud while enabling innovation in the payments industry.
Organizations that select an EMVCo Certified software protection tool benefit from the peace-of-mind that their mobile payment apps can stand up against real-world attacks. In fact, as part of the EMVCO certification process, all security tools are tested against state-of-the-art attack methods, including both static and dynamic analysis.
Additionally, when implementing an EMVCo certified software protection tool, it increases the chance that an organization or developer can reduce the timeline to become a certified Software-Based Mobile Payment program (SBMP). Doing so illustrates to the industry, and your customers, that your organization’s software-based mobile payment components or solutions ensure sufficient security to safeguard against both known and novel attacks.