There are two main reasons why companies implement security
There are two main reasons to understand the importance of mobile application security. said Dr. Christian Schläger from Build38 and was supported on this statement by Prof. Stéphane Grenade, Director of IDAI “Institute of International and European Business Law”. Both made their speech at the Cairo “Mobile Application Security Summit” at the Nile Ritz Carlton on the 3rd March 2022. The first and hard reason is by an external threat or hacker and the other reason is regulations. Both reasons are currently adding up in the MEA region.
Dr. Christian Schläger and Prof. Stéphane Grenade in the Mobile Application Summit 2022
On the one side, hackers have become more aware of the digitization in the region and are targeting online banks, FinTechs, and insurance. On the other side the Central Bank of Egypt Cyber Security Framework that had been published only weeks ago makes Mobile Application Security mandatory. This unique position in the MEA region needs solution providers like Build38.
The MEA team led by Moataz Rafaat invited over 50 participants from more than 20 banks and fintech companies in the region. They joined the “Mobile Application Security Summit” to listen to Prof. Stéphane on his lessons on Data Privacy as well as to two panels on the challenges of cyber security in mobile business and mobile application compliance.
Moataz Rafaat giving his speech in the Mobile Application Summit
Panelists included the CISO of Faisal Islamic Bank Ahmed Gad, the Head of the Digital Factory Bahaa Farouk from Bank Misr, and Hossam Zaytoun Head of Digital Factory of Banque De Caire.
Build38 CEO Dr. Christian Schläger and Head of Products Torsten Leibner explained the trends in the industry, the attacks and attack vectors on the app world, and how Build38’s Trusted Application Kit with its Mobile Application Firewall secures perfectly mobile business, reaches compliance with the CBE Cyber Security framework, and enables a faster digitalization of Financial Service Providers.
“The Mobile Application Firewall – a solution invented and designed by Build38 – is the answer to the rising threat levels and the compliance requirements of modern App Security Regulation” explains Dr. Schläger. “Regardless of the technical channel you reach your customers with – app, web, kiosk – we ensure that you only process business from true entities, from real customers. This tremendous reduction of the attack surface means less fraud, less load on the backend, less work for SOC and service teams, and less work for developers, using our SaaS solution.” Torsten Leibner adds.
Build38 team members with the Banque Misr Team in the Mobile Application Summit
Build38 has been active in the MEA region since 2021
You can reach out to the Build38 MEA team anytime via our webform!