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Retired Member

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Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

DIGITAL BANKING Tips - Tip 8: Mobile Security - How Mobile Phones hacked and Afterwards

15 May 2015  |  9312 views  |  0

As we talked about " What happens if mobile banking user's phone hacked" in the previous Digital Banking Tip, now it is time to go a little deeper in the subject. Mobile security is a concern or should be a concern for everyone, not only digital bankers. Mobile devices became our IDs, probably you heard the famous expression "you are who you hang out with " and most of us  hang out with our mobile devices a lot! 

When the "security" term involved, it triggers in the minds of the many people  an image of extremely intelligent criminals with extremely intelligent tactics - kind of rocket science thing. Although there are some very intelligent fraudsters with very smart tactics, the most common type of attacks are pretty basic and preventable with some simple measures. Usually the weakest link is users, but at the same time media attention is always on high profile attacks rather than daily (business as usual) ordinary common attacks. This creates a false impression that security is very complicated and impossible to manage. This is not true. 

This is the short version of the post. 

Starting from Tip 2 to Tip 30 only short versions of my posts are available at Finextra. From Tip 31, full (long) versions of my posts can be read here.



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