Globally, 5.19 billion people use mobile phones, and 90 percent of their time is spent on apps. Mobile apps play a huge role in the economy. They are major revenue generators for many companies. However, many apps contain sensitive data or intellectual property. This makes them valuable to hackers.
There are proven ways to include security within the iterative mobile application development process. A combination of the right knowledge and tools can help mobile app development and security teams apply the security best-practices across every iteration in their development lifecycle.
These threats can result in financial losses, reputational damages, customer data loss, IP theft and more.
According to Verizon’s 2020 Mobile Security Index, 43 percent of organizations sacrificed mobile security in the past year. Those that neglected mobile app development security were twice as likely to experience a compromise.
Because this is a highly competitive space, teams often prioritize speed of mobile development over app security. A full 63% said they prioritized speed of deployment over security.
This can leave iOS and Android applications vulnerable to malicious actors.
Guardsquare research shows that less than 50% of financial apps are using proper mobile application security. Learn what our data uncovered.Learn More