The European Group leader in Private Banking has online-only services, primarily mobile, that generate around 42 million login actions per month. At that time, it was experiencing an increase in malware attacks and account takeovers, causing fraud-related losses and operational costs due to customer support and manual incident analysis. The Client was very concerned about potential reputational damage to the mobile app since it was affected by Overlay Malware and SMS-grabbing attacks. These malevolent procedures let fraudsters steal customer identities and log into their accounts. The only active protection to the mobile app was a very rudimental security check. Application blocks for common security anomalies like jailbreak and rooting were implemented, but they were causing complaints about app performances. Also, the Client promoted to its customers an awareness campaign about phishing and credentials management. Still, the approach generated a lot of e-mails, user impatience, and little training results. Finally, the Bank was interested in reducing manual review of user requests by the fraud department and offering additional consumer functionalities while providing the highest mobile security standards.
Discover how we helped them implement a real-time solution continuously monitoring the security posture of mobile devices while interacting with the service itself.
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