Application Protection for Financial Services
Arxan helps Financial Services Providers by:
- Preventing the modification of applications including the insertion of malicious code
- Preventing unauthorized access to applications
- Determining whether the environment in which mobile apps are running is safe
- Preventing cryptographic key exposure for Host Card Emulation (HCE)
- Preventing cryptographic key exposure for APIs authentication
Watch the video to learn more about Arxan’s Application Protection for Financial Services:
Arxan protects a broad range of financial services applications and use-cases:
|Apps for your Customers (B2C)|
|Apps for your Employees (B2E)|
Internal Staff and
A protected application reduces your risk of:
- Confidential Data Theft
- Unauthorized Access and Fraud
- Brand and Trust Damage
- Revenue Loss and Piracy
- Intellectual Property Theft
- User Experience Compromise
The Security Landscape within Financial Services
Digital banking on the rise
Key industry players in the financial services ecosystem – including financial institutions, retailers, operators, merchants and cards issuers – are re-defining the financial services landscape in the form of new products and services.
To keep pace with innovation, mobile app developers must deploy critical code – such as jailbreak/route detection, security certificates, sensitive intellectual property, etc. – into “the wild,” to reside in distributed and untrustworthy environments without application protection for digital banking or payment apps.
New Threat Vectors Emerge With Mobile Computing
Hackers can then easily leverage available third party tools to completely disable and compromise mobile app integrity to gain unauthorized access to source code, then tamper with the app to enable fraud, advanced malware attacks, or stealing intellectual property or privileged data, all of which results in revenue and brand losses for the financial institution. The lack of any kind of protection for digital payments also weakens consumer trust in those financial institutions.
Although code review and other traditional application security processes help limit exposure posed by vulnerabilities, financial apps such as mobile payment or banking apps are still very easily abused via reverse-engineering or tampering attacks. Worse, open-source platforms, such as Android, whose code is fully exposed, are at greater risk. Regardless of platform, jail-broken mobile devices can result in hackers gaining root access to mobile applications in order to analyze security logic, insert malware, trojanize apps, subvert authentication or access controls or steal intellectual property, such as algorithms or keys.