Strengthen Your Mobile Application Security to Ensure Business Growth

• By Ray Parker
• 23-01-2020
• Mobile Apps

Mobile applications are reshaping all industries and top players need to quickly adopt the latest mobile app trends in order to succeed. Cybercriminals are targeting mobile devices more than ever before. According to research, more than 80% of Americans own smartphones and they use devices for all financial transactions, including banking, shopping, etc.

Researchers have estimated that more than 2 billion people worldwide use smartphones, tablets, smartwatches, etc. for banking services. Thus, it is important for a business to invest in the right banking app testing company to achieve business growth.

Importance of Security in Mobile Apps

It is not just the banking and financial services industry (BSFI) that has experienced rapid growth in the mobile channel. Other industries like retail, hospitality, etc. are also exchanging huge sums of money through mobile applications. Cybercriminals are always in search of loopholes to gain access to banking accounts or misuse personal information.

Analysts say that the number of mobile malware attacks and mobile account takeover doubles each year. So it becomes important for firms to secure their systems and mobile applications from malicious hackers.

Mobile users assume that all applications they download from third-party stores are safe and secure. Although, official app stores filter out a large percentage of malware, yet they are not completely safe. Security-conscious consumers compromise their own mobile devices by assuming that all available apps are safe. If a firm’s mobile app has vulnerabilities or their personal information is compromised due to security issues in the mobile app, the business may have to bear the consequences.

As more consumers are affected by fraud or identity theft, it can damage a firm’s reputation and may face regulatory fines. But the good side is that security incidents with respect to mobile app or devices can be avoided by hiring a mobile app testing company to implement the best practices.

Strengthening Mobile Application Security

Businesses can focus on basic factors to reduce the risk of fraud, malware, and other types of malicious attacks on mobile devices. Firms and mobile app developers create apps that must begin with implementing a mobile app security program. This program consists of embedding security into design requirements, providing secure code training and resources to an app designer, and conducting security testing throughout the Software Development Life Cycle (SDLC). But the rising attacks on mobile devices call for more viable solutions.

They use mobile app shielding technologies that consist of a collection of technologies integrated into the mobile app’s code to protect it against any cyberattack. In case a user’s device is affected by malware, app shielding detects it and prevents malicious code from running. It enables mobile apps to protect the apps in untrusted device environments.

Firms hire app development companies to protect their mobile apps against attacks, and also safeguard their customers, improve user experience and grow business revenue. The increasing number of mobile devices makes it important for all, especially businesses, to be more careful about their app security.