Banking Security & Fraud Prevention

Securing Mobile Banking Applications & Access to Mobile Banking Channel

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Most customers have their mobile devices within reach all the time and these are fast becoming the device of choice for personal and business interactions. In addition to the potential for innovative banking services such as digital payments, mobile banking is gaining momentum as a strategic delivery channel in addition to online banking and traditional branch network.

While fraud risks remain top issue for financial institutions looking to tap into the opportunities presented by mobility, the platform offers additional security benefits to combat fraud incidents including real-time fraud alerts with push notifications, geolocation (GPS) tracking, device-unique IDs tied to authorized user accounts and biometric access security. Vendors like VASCO Data Security are leveraging these attributes in secure mobile banking applications and risk-based authentication solutions.

Our mobile banking services and security solutions are built on VASCO renowned DIGIPASS authentication solutions to address threats to mobile application integrity from malwares and familiar threats such as mobile phishing and man-in-the-middle attacks. Our solutions include:

  • Secure online banking with ease of use and customers’ convenience offered by a wide selection of tokens to suit every need and available in various form factors - hardware, software, mobile app, blue-tooth enabled tokens, smart card readers etc.
  • Convenient two-factor authentication with applications deployed on user’s mobile devices.
  • Built-in mobile device security for detecting device vulnerability to malwares and other attacks that may compromise customer’s transactions.
  • Risk-based scoring for banking transactions with various parameters such as geolocation data and unique device-fingerprints to combat fraud.
  • Mobile hardening SDK (DigiPass for APPS) to secure existing mobile banking application with natively integrated one-time password (OTP) and e-signature capabilities.
  • Professional services options for app customization & branding, customer activation, optional publication on app stores (Apple & Google) and integration with VASCO 2FA backend infrastructure.