Financial Institutions Are Losing Billions Each Year On Fraud

Financial services customers are no longer willing to wait in line. Whether they are looking up transactions, transferring funds or scanning and writing electronic checks, they expect services to be delivered on their smartphones and devices at almost instantaneous speeds. They also expect data and transactions to be completely private and secure, as assured by regulations such as GLBA in the US and other international laws.

But because there is little protection on mobile devices, attackers are targeting mobile devices to commit fraud. In fact, in a recent RSA report (RSA Quarterly Fraud Report Q4 2018), over 70% of fraud occurred through a mobile browser or mobile app.

“Zimperium has been a great partner on our journey towards mobile device security. Staff has been amazing to work with and the product is very easy to work with, simple to deploy, and provides tremendous value.” 

– VP Security And Risk Management, Global Financial Services Company

Large Bank Deployed Zimperium To Reduce Over $1B In Fraud

One of the largest banks in North America deployed Zimperium’s z9 zIAP to their mobile banking customers. In the first 30 days, they saw over 900,000 threats with many connections to bad Wi-Fi or apps installed from 3 rd party app stores. As a result of the deployment, they believe they are reducing over $1B in fraud and fraudulent transactions. Download the Infographic

“Allows banks to assess users’ device risk for every single mobile banking session in real-time.”

– Group CISO, Global Financial Services Infrastructure Provider

The Zimperium Solution

Zimperium offers financial services firms and their customers the most complete Mobile Threat Defense solution for automatically detecting, reporting and remediating today’s — and tomorrow’s — advanced mobile threats.

  • Detection and prevention: Our zIPS™ app provides continuous self-service mobile threat detection and defense for Android, iOS and Chromebook devices against network-based (or MITM) attacks, rogue application installs, phishing, and OS vulnerabilities.
  • Secure, on-device engine: Our z9™ engine automatically detects and remediates issues on-device rather than requiring an Internet connection, admin privileges or tunneling to a cloud service. This approach keeps private user account data secure on the device without impacting performance.
  • Embedded Runtime App Self-Protection (RASP): Embed cyber security into your banking apps with Zimperium’s zDefend solution. This innovative SDK is completely configurable by developers to detect and remediate threats to a device, including detection of suspicious user behaviors, network attacks and interference from other apps. 

“We selected Zimperium because of its enterprise capabilities and fit with our security and mobility ecosystem, including detailed forensics and the ability to handle our multiple MDMs.”

– VP Of Security, Global Financial Brokerage Firm

“Several signs continue to indicate that mobile security issues are growing in both volume and importance:

  • Nearly one out of five business and industry apps leaks personally identifiable information (PII).
  • Every year, 42 million mobile malware attacks take place.
  • 63% of grayware apps leak the device’s phone number.

Furthermore, enterprises believe mobile malware attacks occur more often than is reported. In a recent Gartner survey, 60% of respondents stated they believe mobile malware incidences are underreported. To the same question for desktop malware incidences, respondents stated they believe only 16% are underreported.”

Market Guide for Mobile Threat Defense. Analyst(s): Dionisio Zumerle | John Girard, 30 October 2018

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