How secure are U.S. financial mobile apps?

Reports

How secure are U.S. financial mobile apps?

More than 70% of U.S. financial services apps have at least one serious vulnerability

Our new report analyzes 100 mobile apps from U.S. financial services organizations using an array of testing techniques based on OWASP mobile app security guidelines.

What did the audit find? While the world rapidly shifts to digital channels and innovative technologies like mobile contactless payments, financial mobile application security has not kept pace.  

For example:

  • 71% of tested U.S. financial services apps have at least one high level security vulnerability
  • The vast majority of financial services apps (82%) have mishandled/weak encryption
  • 62% of Android apps and 32% of iOS apps are vulnerable to cryptographic key extraction
  • Approximately 34% of tested Android apps and 16% of iOS apps failed to adequately protect the transport layer 
  • Nearly 70% of the high-level threats discovered could have been mitigated using in-app protection

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