A recent Pew survey found that 32% of U.S. adults use mobile banking, a number that has grown steadily over the past two years, and is forecast to continue growing. This percentage is even higher in emerging-growth countries. A recent survey from Easy Solutions found that 44% of Latin American consumers now leverage mobile devices to perform banking transactions.
Easy Solutions Mobile combines native application malware protection with native integration of advanced strong authentication and mobile endpoint security, to deliver the most comprehensive, proactive security solution for mobile banking. The solution also offers the ability to qualify risk in the mobile banking customer base, providing data intelligence per device that can be leveraged for granular access control based on device risk factors.
"With the growth in mobile banking, cybercriminals are deploying increasingly complex fraud schemes targeting the mobile banking channel," said Daniel Ingevaldson, CTO of Easy Solutions. "Banks and other financial institutions are looking for ways to gain deeper insights into this customer base, in order to establish mobile fraud and risk strategies that address the unique challenges associated with the mobile channel."
Easy Solutions Mobile provides a multi-layered solution to help financial institutions protect their entire user base from mobile fraud, and harness analytics that help improve their mobile security posture across the customer base. Features include:
Intelligence and Analytics
Easy Solutions Mobile collects a broad range of data intelligence from the device--jailbroken/rooted device status, malicious apps, device type, OS, processor and more – to enable risk-scoring based on device profile or behavior. This risk scoring can be leveraged by the mobile banking application to reduce customer friction, require further authentication based on profile, and enable additional functionality. Easy Solutions Mobile provides the institution with the visibility needed to make decisions based on the mobile channel environment. For example, based on institutional policies, financial institutions can allow or reject certain activities performed through the mobile channel due to the secured or unsecured status of that device.
Embeddable Software for Mobile Apps
Embedding Easy Solutions Mobile in any mobile banking application protects the app itself from the expanding landscape of mobile threats, while simultaneously enabling advanced mobile capabilities such as hardware-based device ID, push authentication and notification, and collaborative protection. This eliminates the need for users to download unfamiliar third-party applications, and allows the financial institution to retain control over the complete end-user experience.
Easy Solutions Mobile provides hardware-based device identification that creates persistent device ID to uniquely identify mobile devices. The device ID is recognized by the mobile banking app even after deletion and re-installation of the mobile app.
Push Authentication and Push Transaction Verification
Easy Solutions Mobile provides on-device protection and analytics as a foundation to leverage the mobile channel for a better OOB (out of band) experience. Easy Solutions Mobile includes powerful functionality to enable "push" authentication and transaction verification to tightly integrate the OOB experience to the financial institutions own mobile app, while providing a much better user experience than SMS-based OOB.
Easy Solutions Mobile detects, blocks, alerts and reports in real-time on infected devices and web pages that contain malware and other fraudulent content. It harnesses Easy Solutions' Collaborative Protection, which gathers big data on any malicious process found on one device to provide fraud intelligence for the early detection and deactivation of sites hosting malware and attacks. This helps to reduce fraud and block phishing and pharming attacks across the entire customer population.
Easy Solutions Mobile is part of Easy Solutions' Total Fraud Protection platform, which provides comprehensive fraud protection across all channels, and extended to the end-user. By combining cross-channel risk-scoring, transaction anomaly detection, multi-factor authentication, secure browsing, and detection and take-down services, Easy Solutions blocks criminals at all three phases of the fraud lifecycle - planning, launching, and cashing – while ensuring that authorized users can conduct business.
For more information on Easy Solutions Mobile, visit http://www.easysol.net/newweb/Products/easy_solutions_mobile
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ABOUT EASY SOLUTIONS
Easy Solutions delivers Total Fraud Protection® to over 150 clients, with over 40 million end users. The company's products protect against phishing, pharming, malware, Man-in-the-Middle and Man-in-the-Browser attacks, and deliver multi-factor authentication and transaction anomaly detection. For more information, visit http://www.easysol.net, or follow us on Twitter @goeasysol.