Improving transaction security for financial institutions
by Andreas Baumhof - CTO at ThreatMetrix - Monday, 23 June 2014.
More Focus on Security. Financial institutions should never force themselves to choose between security and usability. In today’s mobile environment, banks need to reorient their philosophies, making both security and usability top-level priorities in their mobile strategies.

User Education. Many mobile security threats can be avoided through basic device security practices. By educating users about the importance of mobile anti-virus/malware solutions and the dangers of giving untrusted individuals access to devices, financial institutions can significantly reduce incidents of fraudulent activity.

The popularity of mobile transactions makes the mobile channel an attractive target for cyber criminals. By implementing better mobile security practices now, banks and financial institutions can significantly reduce risk and create a security environment that generates business advantage.

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