Financial Services
Shield your assets with ironclad financial services cybersecurity
Financial institutions are under attack.
Financial institutions are an attractive target for attackers because they move money. Yet despite investing billions of dollars in security, financial institutions continue to be vulnerable to cyberattacks. The challenge has only intensified with the digital transformation in the financial services industry, which has opened new doors, largely driven by popular mobile apps in fintech, insurtech, and cryptocurrency.
Financial institutions are
300x
more likely to be targeted by cyberattacks1
129%
increase in targeting banking apps with overlay attacks2
71%
of all data breaches are financially motivated3
- Boston Consulting Group’s ‘Global Wealth: Reigniting Radical Growth’ report
- Threat Fabric website
- Verizon 2021 DBIR Master’s Guide
Securing financial services with XTD
Financial institutions are a prime target for cyberattacks, with over 60% of global financial institutions being hit by a variety of cyberattacks in 2022 alone. Read about what vulnerabilities hackers are taking advantage of and the cybersecurity solutions which can plug gaps to prevent such attacks.
What types of attacks are deployed on financial apps?
Mobile Screen Overlay Attack
A cyberattack on mobile users whereby attackers trigger an active window over a legitimate app. Many banks are being actively targeted on the dark web for this type of threat.
On Device Fraud (ODF)
Malware that exploits Android's MediaProjection service (enables screen sharing) and Accessibility Service (to perform device actions remotely).
MITM (Man-In-The-Middle) Attack Using ARP Poisoning
Attacker hijacks communication flows between an app and an enterprise gateway, allowing them to intercept/modify communications that passes between the app and the server.
App security is now a boardroom concern.
Financial services customers expect to conduct business via apps, and they expect security and data privacy. However, most mobile apps have weak protection, making them an easy target for cybercriminals.
Many new types of cyberattacks occur through mobile apps such as the highly dangerous mobile screen overlay attack, putting consumers and financial institutions at risk of losing billions each year – making app security a boardroom problem versus a mere app development challenge.
A tested and proven leader.
Verimatrix XTD is the leader in mobile app cybersecurity. We offer a cloud-cybersecurity solution for financial service firms that predicts, prevents, detects, and responds to threats against mobile apps, and we help customers monitor the extended endpoint of connected devices. As the leader in Extended Threat Defense for financial institutions, Verimatrix safeguards today’s top brands, ensuring they meet their financial regulatory compliance requirements and enhancing their threat defense capabilities.
Verimatrix recognised as a sample vendor in the Gartner© Hype CircleTM for Application Security”
2023 Gold Award Winner
Security
Brand Growth
Verimatrix XTD is truly unique.
What makes our product so revolutionary? Verimatrix XTD analyzes data to predict attacks on financial institutions and provides robust app protection before attacks can happen, expanding your ability to monitor an ever widening attack surface.
Key features:
Beautiful UX
Agentless, zero code
Monitors unmanaged devices
CI/CD friendly
SIEM integrated
Threat hunting service
Get a demo now.
Deploy our cloud-native XTD platform in minutes to protect your apps.
