Security testing is a vital yet challenging task for organizations, especially financial institutions such as banks, that deal with the sensitive data of numerous individuals. That’s why they are at a higher risk of data breach and cybersecurity attack.
However, with the induction of modern banking methods, such as mobile banking, the threats are much increased because mobile applications from unknown sources and the public Wi-Fi connection make mobiles highly insecure.
But, using mobile application enables simplified and faster banking, therefore resisting the technology could leave you far behind your competitors. So, what’s the solution?
Nothing could provide a complete guarantee against increasing cyber threats, but the recently introduced automate mobile app security testing could help you keep up the development pace along with adequate security.
What is Automate Mobile App Security Testing?
Mobile application security testing helps to assure that there isn’t any security lack in the software, which poses a privacy risk and can, cause data loss.
The automate mobile app security testing kickoff numerous attacks to an app to identify the probable security threats, compliance gaps, and vulnerabilities that could be a gateway for illegal access. With such working, the detection of security threat to private information in the mobile app is made possible.
These testing tools are a modern day facility that directly connects to the continuous integration systems. They access apps on real devices and bring accurate baseline test results when demanded.
Reasons Banks Should Adopt Automate Mobile Security App
Banking applications are among the most sensitive and complicated applications in present era software development. With the numerous financial transactions and deals every day, there is no room for vulnerability, and that’s what making organizations move towards security tools.
Also, mobile apps have opened up new ways of exploitation for hackers. Such risk is because these applications encompass most of the personal information and financial credentials necessary for banks to make transactions simpler.
However, if there are tools, methods, and successful use cases, and you neglect them, then you may be contributing to a technical loss for your organization. But are all these security tools legitimate and authentic?
Some of the automate mobile application security testing use IPsec or TLS VPN gateway for the data protection between buyer and supplier networks, and for data protection within the supplier network. VPN connection provides encryption and high-level security to data through secure tunneling process.
Therefore, it is also recommended to check the security testing application’s features once you decide to select one for your bank after reading the key reasons to consider automate mobile security app.
Increased Cybersecurity Risks Especially For Economic Centers
Either it is a phishing attack, social engineering attack, DNS Hijacking, Ransomware or any of the cybersecurity breaches; the significant purpose behind it is to gain monetary benefit.
Getting access to the bank accounts of individuals is the best way to get financial data and to gain the utmost benefit. Therefore, a financial institution could be the favorite target of a hacker.
The security for banks and mobile apps are frequently increasing, but the hiring of an assessment or security team for this purpose is expensive and can be time consuming. Besides, an automated mobile testing app makes sure that the underlying security measures are in place, especially when there is a sudden attack, and there are no prior security measures.
Critical Process of Security Testing
For a complex banking system, it is quite complicated to run a thorough security test from scratch. It also needs sufficient time, efficiency and resources. However, it is a critical part of an organization and requires proper consideration.
Fortunately, the security testing via automated mobile apps is gratifying when an appropriate and authentic tool is selected from among many. With the continuous integration technique, these apps allow testing even when the application is in stages of development.
Informs You of the Corresponding Industry Security Compliances
You can fall victim to a security breach losing a significant amount of your sensitive data. However, the penalty charges for compromised customer data could hurt more.
The increased strictness over cybersecurity laws has intensified the risk and pressure on organizations especially banks. Taking the examples of countries like USA and Singapore would show how a security breach could cost millions of dollar penalty. Also, the amount could get sky high when an organization when a security audit shows the unavailability of appropriate security measures.
Here also, the automated mobile app could minimize the risk of security attack and penalty by including the top industry security compliances.
Needs Merely Any Change To Existing Security Strategy
Most banks are averse when it comes to changing or updating their existing technology and replacing it with the most modern one. Such behavior is mainly because sufficient time and energy are required to carry out the whole process.
However, a good automate mobile app security testing tool lets you keep their solutions right on the top of the current one. You can also create your own automated tool, but it may require an ample amount of investment. Yet, the free automate mobile app could provide the appropriate security via proper expertise.
Boost Your Marketing Pace
Last but not least, automate mobile app security testing could have a dramatic effect on the marketing time of your organization.
Because of unstopped security process during development and production, a banking team could better concentrate on core business competencies. Therefore, an app could be transferred to the app store promptly. Banks can also lead amongst the competitors as there are chances that your competitor uses a conventional security method instead of automate mobile security testing tool.
About the Author:
Zehra Ali is a Tech Reporter and Journalist with 2 years of experience in infosec industry. She writes on topics related to cybersecurity, IoT, AI, Big Data and other privacy matters on various platforms. She is also the Editor at PrivacySniffs.
- Hakin9 is a monthly magazine dedicated to hacking and cybersecurity. In every edition, we try to focus on different approaches to show various techniques - defensive and offensive. This knowledge will help you understand how most popular attacks are performed and how to protect your data from them. Our tutorials, case studies and online courses will prepare you for the upcoming, potential threats in the cyber security world. We collaborate with many individuals and universities and public institutions, but also with companies such as Xento Systems, CATO Networks, EY, CIPHER Intelligence LAB, redBorder, TSG, and others.
- Blog2022.12.13What are the Common Security Weaknesses of Cloud Based Networks?
- Blog2022.10.12Vulnerability management with Wazuh open source XDR
- Blog2022.08.29Deception Technologies: Improving Incident Detection and Response by Alex Vakulov
- Blog2022.08.25Exploring the Heightened Importance of Cybersecurity in Mobile App Development by Jeff Kalwerisky
This article on mobile apps security testing is a great read, thanks for putting it together. In fact, I find your thoughts on marketing pace very interesting.
I’m happy I found another amazing cyber security blogger.
More grease to your elbow… :)