Business Wire

Verimatrix: Survey of Mobile Banking Security Experts Reveals Questionable Practices

Share

Regulatory News:

Verimatrix, (Euronext Paris: VMX), the leader in powering the modern connected world with people-centered security, today announced the release of its commissioned ISMG report titled, “The State of Mobile Banking App Security.” The full report is available for download at www.verimatrix.com/ebooks/state-of-mobile-security.

Featuring responses from 150 financial services security professionals throughout the United States, Canada and EMEA, the report’s survey illustrates a notable disconnect between the importance placed on mobile apps and the attention it receives from the highest-level security professionals. Although 82 percent of respondents said securing the mobile channel was important or very important, just over half of CISOs report evaluating, influencing or deciding on mobile security.

More than 60 percent of respondents said they were confident about the level of security on their mobile apps, yet they admitted they outsourced mobile app development 50% of the time, or purchased a white label solution 19% of the time, meaning the chain of responsibility for app security is less verifiable than might be expected in the sector. A surprising 39% of respondents don't run vulnerability analysis and penetration tests on mobile channels.

In addition to tracking executive-level involvement and outsourcing trends, the report discusses the challenges surrounding developing and securing the mobile channel. It highlights banking security teams’ greatest concerns related to mobile banking as well as what types of mobile attacks are most prevalent and how today’s banking security executives are mitigating the risk.

“It’s clear that security professionals within the financial services sector understand just how critical mobile apps are to their business, but this must translate into more executive-level involvement when creating a strategy to protect their apps that ingest and deliver highly sensitive data,” said Asaf Ashkenazi, Chief Operating Officer at Verimatrix. “We’re pleased to sponsor this ISMG report that shows that words are one thing, deeds are quite another. Taking ownership of mobile app security early on is the key to secure users and save corporate reputations.”

A summary of top findings includes:

  • 82% of respondents consider securing the mobile channel to be important or very important for their financial institution
  • 69% perceive the mobile channel to be critical or very critical to their financial institution
  • 53% of CISOs are involved in evaluating, influencing or deciding on mobile security
  • Nearly 70% perceive the mobile channel to be critical or very critical for their financial institution
  • 60% are confident about the level of security on their mobile apps, and only 8% of those are extremely confident
  • Nearly 33% are worried or very worried about application/API hacks

About ISMG
Information Security Media Group (ISMG) is the world’s largest media organization devoted solely to information security and risk management. Each of our 28 media properties provides education, research and news that is specifically tailored to key vertical sectors including banking, healthcare and the public sector; geographies from North America to Southeast Asia; and topics such as data breach prevention, cyber risk assessment and fraud. Our annual global summit series connects senior security professionals with industry thought leaders to find actionable solutions for pressing cybersecurity challenges. Visit www.ismg.io.

About Verimatrix
Verimatrix (Euronext Paris: VMX) helps power the modern connected world with security made for people. We protect digital content, applications, and devices with intuitive, people-centered and frictionless security. Leading brands turn to Verimatrix to secure everything from premium movies and live streaming sports, to sensitive financial and healthcare data, to mission-critical mobile applications. We enable the trusted connections our customers depend on to deliver compelling content and experiences to millions of consumers around the world. Verimatrix helps partners get to market faster, scale easily, protect valuable revenue streams, and win new business. To learn more, visit www.verimatrix.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Verimatrix Investor Contact:
Richard Vacher Detournière
General Manager & Chief Financial Officer
+33 (0)4 42 905 905
finance@verimatrix.com

Verimatrix Media Contact:
Matthew Zintel
+1 281 444 1590
matthew.zintel@zintelpr.com

About Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Hisense's European Sales Revenue Surges to 113%, Successfully Strengthen European Competitive Position and Profitability14.6.2021 13:00:00 CEST | Press release

Hisense, the official sponsor of UEFA EURO 2020, celebrates the official kick-off of EURO 2020 in Italy. Football, as one of the top events in Europe, creates a chance for Hisense to build emotional connections with European consumers. Ever since the sponsorship of UEFA EURO 2016, through supporting sport event and technology innovation, Hisense gains many recognitions and praises from European consumers; its brand awareness increased by 6%. In 2021, Hisense’s sales revenue in the European market grew by 113% year-on-year, with more than 355% and 185% growth in key markets such as Poland and France. Hisense is dedicated to developing and producing cutting-edge technology, adopting localization strategy to ensure different markets' consumer needs and product experience. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210614005257/en/ Fans can find Hisense Logo on EURO 2020 Festival Tower (Photo: Business Wire) Localization man

Moody’s Highlights Its Commitment to Sustainability Leadership14.6.2021 13:00:00 CEST | Press release

Today Moody’s Corporation (NYSE:MCO) released its inaugural Stakeholder Sustainability and Diversity, Equity and Inclusion (DE&I) reports, which highlight its ongoing commitment to sustainability leadership by placing sustainability considerations at the core of its global business and operations. The 2020 Stakeholder Sustainability Report details Moody’s focus on sustainability and its progress toward incorporating environmental, social and governance (ESG) considerations across its products and corporate operations. Moody’s DE&I Report details new goals established to enhance diverse representation across its global workforce and highlights programs and partnerships created to advance DE&I in its workplace, communities and the wider business community. “Sustainability is an integral part of who we are and how we operate at Moody’s,” said Robert Fauber, President and Chief Executive Officer. “Our Stakeholder Sustainability and DE&I reports detail the many ways in which we are committe

Velodyne Lidar Introduces Next-Generation Velabit™ Sensor14.6.2021 12:48:00 CEST | Press release

Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today introduced the next generation of its Velabit™ sensor, which addresses the cost, safety, and design challenges of autonomous solutions while delivering state-of-the-art performance. Equipped with Velodyne's breakthrough proprietary micro-lidar array architecture (MLA), the Velabit delivers on what Velodyne customers asked for - an ultra-wide field of view (FoV) and higher resolution. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210614005080/en/ Velodyne Lidar introduced the next generation of its Velabit™ sensor, which addresses the cost, safety, and design challenges of autonomous solutions while delivering state-of-the-art performance. (Photo: Velodyne Lidar) The solid-state Velabit sensor now has a simultaneously achievable maximum horizontal FoV of 90° and maximum vertical FOV of 70°, approximately three times more points per second than the previous model. The next gene

Thales and Google Expand Partnership to Support Enhanced Privacy and Confidentiality Capabilities for Google Workspace14.6.2021 12:00:00 CEST | Press release

Thales today announced that its CipherTrust Manager and SafeNet Trusted Access have been integrated with Google Workspace Client-side encryption (beta coming soon), a new privacy and confidentiality offering for Google Workspace users. Providing enhanced key management capabilities and identity protection, customers can benefit from improved regulatory compliance and data ownership by allowing them to maintain ownership of keys used to encrypt Google Workspace documents. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210614005060/en/ © Thales With many countries developing strict data security regulations, such as GDPR and Schrems II in Europe, CCPA in NORAM and NDB in APAC, the regulatory landscape is becoming increasingly complex for organisations to navigate. What’s more, with three-quarters (74%) of global organisations planning to keep part of their workforce remote after the pandemic, there is an increasing need for a

Celltrion announces positive top-line results from global Phase III trial of regdanvimab (CT-P59), an anti-COVID-19 monoclonal antibody treatment14.6.2021 10:15:00 CEST | Press release

Celltrion Group today announced top-line efficacy and safety data from the global Phase III clinical trial, demonstrating that anti-COVID-19 monoclonal antibody treatment candidate, regdanvimab (CT-P59), met all primary and key secondary endpoints in patients with mild- to- moderate symptoms of COVID-19 (n=1,315). Results showed that CT-P59 significantly reduced the risk of hospitalisation or death by 72% for patients at high- risk of progressing to severe COVID-19 up to Day 28, compared to placebo, meeting the primary efficacy endpoint [3.1 vs. 11.1 %, p-value< 0.0001]. CT-P59 also significantly reduced the risk of hospitalisation or death by 70% in all patients, meeting the first key secondary endpoint [2.4 vs. 8.0 %, p-value< 0.0001]. The trial also met the other key secondary endpoints, including faster and persistent reduction in symptom duration. Patients treated with CT-P59 (40mg/kg) recovered at least 4.7 days earlier than those in the placebo-treated patients [median 9.3 vs. m

Immersive Labs Raises $75m to Accelerate Data Platform for Analyzing and Unlocking Cyber Skills Across Large Organizations14.6.2021 10:00:00 CEST | Press release

Immersive Labs, the company empowering organizations to measure and improve cybersecurity skills across technical and non-technical teams, today announced it has closed $75m in Series C funding led by new investors Insight Partners alongside Menlo Ventures, Citi Ventures and existing investor Goldman Sachs Asset Management. The investment will accelerate delivery of a progressive new Cyber Workforce Optimization platform. With cyber risk no longer confined to technical specialists, expert skills are now required across the entire organization. From crisis management with executives to secure software development amongst engineers and ensuring compliance in legal teams, the platform will use data insights to understand where skills are required and inject role-specific training. It will also enable board-level metrics and benchmarking. Immersive Labs, which has now received $123m in venture funding, currently counts organizations such as HSBC, Vodafone and the NHS as customers. Growing

NexStreaming releases NexPlayer for Nintendo Switch™14.6.2021 09:00:00 CEST | Press release

NexStreaming announced the latest addition to their Player SDK family, the Nintendo Switch SDK, becoming the first player to enable video streaming for the popular video game devices. NexPlayer and Nintendo have joined forces to port the popular NexPlayer SDK into Nintendo Switch, making possible HLS and DASH streaming inside Nintendo Switch apps. OTT providers will be able to offer their Live & VOD video services to almost 80 million users worldwide and gaming publishers will be able to include exciting video contents inside their Nintendo Switch games. NexPlayer for Nintendo Switch comes with the same premium support as NexPlayer SDK and is very easy to integrate into any application. Carlos Lucas, CEO of NexStreaming said, “Our role in the industry is to enable the most advanced video services for the largest number of devices. Adding Nintendo Switch to our list of supported platforms is aligned with this strategy. Nintendo´s support has been key for this achievement. We hope our cu