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BY INDUSTRY [MOBILE BANKING APPS]

A comprehensive security solution for banking apps

Build38’s Mobile App Security Platform offers a unique and all-encompassing solution tailored specifically to the needs of banking apps. In contrast to conventional solutions that primarily concentrate on safeguarding mobile endpoints, Build38 adopts a holistic approach, ensuring the security of not only the mobile app but also its communications and back-end APIs.

The security and compliance challenges faced by banking apps

Mobile banking apps have revolutionized personal finance management by offering users a secure and convenient way to access a wide range of banking services on their smartphones. These apps allow users to check their account balances, transfer money, and pay bills from virtually anywhere, making round-the-clock financial management possible.

The intensely competitive mobile banking app market sees both newcomers and traditional banks striving to provide customers with exceptional financial experiences, driving innovation and evolution in the industry. However, the popularity and financial significance of banking apps also make them prime targets for hackers seeking quick financial gain or data theft. 

Mobile banking apps are a prime target for hackers

Hackers exploit vulnerabilities in apps to gain unauthorized access, manipulate transactions, or steal sensitive user data.

Data and security standards are constantly evolving

Lawmakers recognize the importance of mobile banks in the modern economy and are establishing strict and constantly evolving data and security standards to safeguard customers’ financial information.

KYC, AML and PSD2 are priority product specs

Compliance with regulations such as Know Your Customer (KYC), Anti-Money Laundering (AML), and the Payment Services Directive 2 (PSD2) is now a legal requirement for mobile banks to ensure data protection and privacy.

Cryptographic keys a target for attacks

Cryptographic keys, vital for securing mobile banking apps, are especially vulnerable to extraction via techniques like reverse engineering and side channel attacks.

Device vulnerabilities and backend APIs increase your threat surface

Mobile device vulnerabilities and unauthorized access to backend APIs pose specific threats to the security of mobile banking apps.

Integrating security into development creates new challenges

Integrating security into the development process, managing high penetration testing costs, and navigating the diverse landscape of security software options further compound the challenges faced by banking apps in ensuring robust security measures.

How Build38 protects mobile banking apps better

Build38’s Mobile App Security Platform offers a comprehensive solution tailored specifically to the needs of banking apps, ensuring the security of mobile endpoints, communications, and back-end APIs. By adopting a holistic approach, Build38 provides end-to-end protection, incorporating advanced in-app self-protection features such as data encryption, secure PIN pads, and robust cryptography to thwart attempts to extract cryptographic keys. Our compatibility with over 99% of smartphones worldwide ensures a seamless customer experience, while our flexible No Code, Low Code, and Master Code integration options accommodate different development constraints, allowing security measures to be integrated seamlessly into the development process.

With Build38, banking apps benefit from advanced security features such as autonomous termination of breached apps, and active hardening capabilities that enhance app security remotely . The platform’s powerful Threat Intelligence portal enables robust monitoring and response to security threats, empowering security, compliance, and fraud management teams with real-time visibility and actionable insights. Additionally, Build38 streamlines compliance processes by making it easier to adhere to stringent regulatory requirements, including PSD2, KYC, BSA/AML, FFIEC, MPoC, and GDPR, ensuring banking apps can protect their users’ security and trust in an increasingly mobile-centric banking landscape.

Why businesses 
choose Build38

Businesses worldwide trust Build38 with their mobile app security. Don’t just take our word for it—listen to what our customers have to say.

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