24 November 2017
visit www.avoka.com

Customers Bancorp turns to Trusteer and Malauzai for mobile security

22 July 2014  |  2197 views  |  0 Source: Malauzai Software

Malauzai Software, a provider of mobile banking SmartApps for community financial institutions, has teamed up with Boston-based Trusteer, an IBM company, to provide an integrated solution that is being used by Wyomissing, Pa.-based Customers Bancorp, Inc. to strengthen the security of its mobile banking application.

"Consumers are relying on their mobile devices more and more, which increases the need for these devices to be secured strongly against cyber threats and online fraud"

With the rate of mobile malware on the rise, this solution provides end users with an additional layer of security by integrating Trusteer's Mobile SDK security solution into Malauzai's SmartApps. With Trusteer's Mobile SDK embedded into a SmartApp, the device is scanned to identify a broad range of risks, including:

  • Jailbroken (iOS) and Rooted (Android) devices
  • Missing Operating System (OS) security patches
  • Risky application configurations and permissions
  • Malware infections
  • Unsecured Wi-Fi access

Once the scan is complete, a mobile risk score is determined. Customers Bancorp uses this result to secure mobile banking transactions. Risk data is provided to the mobile banking app and can be used to restrict account functionality based on device risk levels. For example, users can be required to pass stronger step-up authentication. Once users have logged in, the bank can use the risk score to restrict access to specific data or functionality and delay approval of specific transactions.

"One of the biggest hurdles to mobile banking adoption is account holder concern around security," said Warren Taylor, executive vice president of Customers Bancorp. "With more people using their mobile device to manage finances, fraudsters have turned their attention to this channel. The relationship between Trusteer and Malauzai provides our customers with one of the most secure mobile banking solutions available. This offering will help us grow mobile banking adoption and provide our customers with solutions they can't find elsewhere."

"Consumers are relying on their mobile devices more and more, which increases the need for these devices to be secured strongly against cyber threats and online fraud," said Yaron Dycian, Executive VP of Products, Services, and Security at Trusteer, an IBM company. "Malauzai is demonstrating its strong dedication to community banking institutions and their customers by partnering with Trusteer to further enhance the security of SmartApps by enhancing their fraud detection and prevention tools." 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.response.ncr.comvisit www.capgemini.com

Top topics

Most viewed Most shared
Sepa instant payments goes liveSepa instant payments goes live
10821 views comments | 46 tweets | 79 linkedin
ING brings data privacy to blockchain transactionsING brings data privacy to blockchain tran...
9393 views comments | 25 tweets | 37 linkedin
hands typing furiouslyHow Fintech Companies are disrupting the C...
8096 views 0 | 20 tweets | 9 linkedin
Axis Bank uses Ripple to open new payment corridors between the UAE and SingaporeAxis Bank uses Ripple to open new payment...
7854 views comments | 8 tweets | 22 linkedin
HSBC names former Google engineering lead as retail CIOHSBC names former Google engineering lead...
7617 views comments | 10 tweets | 18 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job