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Cybersecurity extended for

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.

300x

more likely to be targeted by cyberattacks1

$5.97M

average cost of a data breach in financial services in 20222

71%

of all data breaches are financially motivated3

  1. Boston Consulting Group’s ‘Global Wealth: Reigniting Radical Growth’ report
  2. CSI 2023 Banking Priorities Executive Report
  3. 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?

A smartphone that is experiencing a mobile screen overlay attack.

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.

A diagram illustrating how On-Device Fraud (ODF) happens.

On Device Fraud (ODF)

Malware that exploits Android's MediaProjection service (enables screen sharing) and Accessibility Service (to perform device actions remotely).

A diagram showing how a man-in-the-middle attack operates.

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.

A screenshot showing how AI can be used on the Verimatrix XTD platform to predict cyber threats.

Verimatrix recognised as a sample vendor in the Gartner© Hype CircleTM for Application Security”

Gartner logo (white)

Awards & Accolades

2024 Cybersecurity Excellence Award
Verimatrix XTD Wins Gold TITAN Business Award for Cybersecurity
Verimatrix XTD Wins Gold TITAN Business Award for Cybersecurity

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

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Trusted and Recognized

By industry analysts, associations, and peers

Trusted and Recognized

By industry analysts, associations, and peers

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