The mobile is shaking the entire financial ecosystem, requiring more convenience for consumers with new use cases and services, including digital banking apps.
Financial institutions have yet to keep up with the necessary security scheme needed to protect these services.
They also need to make sure their security implementations comply with the regulations, such as the EU Payments Services Directive (PSD2) or FFIEC in the U.S.
There’s more.
They are facing increasing cyber-attacks, calling for higher levels of security.
Reports from security specialists confirm years after years that mobile malware is on the rise in numbers and sophistication.
After the wave of infamous SMS malware (like Eurograbber), which forward to hackers the One Time Code received to validate transactions, fraudsters now try to disguise themselves as genuine bank applications to collect card details and online users credentials (HWorm, Houdini).
Field-proven, robust, and flexible authentication solutions are essential for such challenges.
Thales Gemalto Mobile Authentication Suite helps banks address all these challenges.
The Suite:
Gemalto Mobile Protector is a Software Development Kit providing APIs to implement multi-factor authentication and mitigate against malware attacks easily. It offers three layers of authentication:
Banking customers often use their mobile banking applications as the primary channel and switch to the computer or tablet for more complex tasks. Banks can embrace this behavior by making the mobile the central hub for functionality and security.
In other words, Banks can provide a much more fluid experience.
Gemalto Mobile Messenger enables this seamless experience by ensuring that the mobile can be used for authenticating to all channels. Your customers can then use the mobile, tablet, or computer to perform their banking operations, using their mobile phone as their one-stop authentication device.
Gemalto Mobile Messenger includes an advanced Out-of-Band messaging server and mobile SDK to send and receive messages, including authentication requests and transaction verifications, to targeted groups or individuals.
It creates a secure channel between the bank’s information/authentication systems and the mobile app. All communication is encrypted and signed.
Mobile biometric authentication is an approach to multi-factor authentication (MFA) to verify an individual’s identity that uses possession of a mobile device as a first factor and use of that device to verify a unique biometric identifier as a second factor.
