PSD2: Creating a Secure Execution Environment for Mobile Banking Apps

The revised Payment Services Directive, also known as PSD2, pays a lot of attention to the security of mobile banking apps, mobile payment apps, mobile wallets, and other apps that offer payment functionality. The most important requirements related to mobile app security are present in Article 9 of the final Regulatory Technical Standards (RTS) on Strong Customer Authentication (SCA) and… Read more


swipe

The following article, authored by Giovanni Verhaeghe, Director Market and Product Strategy, VASCO, first appeared 2/4/2018 in the Financial IT.net blog. Mobile banking apps and the devices they run on are increasingly at risk for compromise by cybercriminals. New, sophisticated methods of attack have rendered the classic username-password scheme outright obsolete. Even the more secure but still basic two-factor authentication… Read more


Face ID

Face ID is fast becoming a differentiator for organizations that want to provide a frictionless mobile experience. While biometric authentication remains the exception and not yet the rule, the analyst community strongly believes digital businesses, especially banks, need to pay attention. For example, in the recent Hype Cycle for Digital Banking Transformation, 2017, Gartner recommends that digital businesses develop world-class… Read more


Behavioral Biometrics: Improving Security and the Customer Experience

Before the Internet, customers who wanted to transact with their bank had only one option – a visit to their local branch for a face-to-face transaction. Now, in the mobile age, customers expect their banks to provide secure and easy access to the full suite of banking services via their mobile device. New channel, new challenges This demand for mobile… Read more


The debate over the relative importance of mobile banking was settled long ago. Mobile banking is already the number one channel for many customers of financial institutions, it is being used by about half of those with a banking relationship, it has grown to become the number two preferred channel overall and will soon become number one, and there is… Read more


Touch ID

Biometrics – specifically the use of fingerprints, iris scans and facial recognition as a means of authentication – increasingly has become an accepted part of daily life. Several governments, including the United States, Canada and United Kingdom, have adopted biometrics, as the technology continues to improve. In 2013, Apple introduced Touch ID, a fingerprint scanning technology embedded in the company’s… Read more


Gen Y as the Next Threat Vector

As each new generation becomes more technologically advanced, banks and other service providers need to respond quickly to new expectations, and nowhere is this more apparent than with the generation we often call Gen Y, or the Millennial Generation. Gen Y has raised the bar when it comes to adoption of new technology, and the speed at which we must… Read more


How to enable high-value banking services on mobile

With the potential to create everything from new revenue opportunities, to increased customer acquisition to cost savings, mobile is changing the landscape of banking as we know it. The rollout of foundational mobile services is already yielding tremendous success, and as banks consider implementing more advanced, high-value mobile services, one of the biggest blockers remains the security of their mobile… Read more


Consumer Security Is No Longer One-Size-Fits-All

In the wake of recent high-profile breaches of personal information, a few things have become apparent to consumers as well as information security professionals. Retailers may be just as susceptible to information theft as financial institutions — the impact to consumers is just as damaging, and there is something severely lacking in the way information is transmitted and secured across… Read more