Article:

Securing Mobile Apps and Why It’s Critical for Businesses

 

Mobile devices continue to become indispensable, with the average smartphone user spending around 88% of their day interacting with apps. This surge in mobile usage highlights an escalating need for businesses to ensure their apps are secure, as the stakes of app security have never been higher. From retail businesses to e-commerce platforms, mobile apps handle sensitive user data and provide access to essential business systems. The consequences of a breach can be devastating, both for businesses and their users. 

 

Why Protecting Mobile Apps is Critical 

In 2023, a significant data breach exposed the personal information of over 37 million users due to a vulnerability in a mobile app’s backend API. Attackers were able to exploit this weakness to gain access to names, phone numbers, billing addresses, and other sensitive details. This breach, originating from the app’s communication interface, highlighted the critical need for securing mobile app infrastructure. 

 

As mobile apps become the primary touchpoint for businesses and users, securing them is more critical. Breaches in mobile app systems can occur through overlooked vulnerabilities like APIs, which facilitate communication between the app and its servers. These weaknesses can lead to massive data exposure, resulting in loss of trust, financial penalties, and long-term damage to a company’s reputation. As mobile apps handle increasing volumes of sensitive user data, robust security measures, including API protection, encryption, and strong authentication protocols, are important to secure user information and maintain trust in a competitive market. 

 

Industry Trends in App Security 

Recent trends show that threats against mobile apps are evolving. Malware is becoming more sophisticated, with cybercriminals using advanced techniques like reverse engineering and code tampering to exploit vulnerabilities. According to a report by Gartner, mobile malware attacks have increased by 50% over the past two years. Additionally, phishing attacks through mobile apps are on the rise, particularly against financial services and online marketplaces. 

 

Businesses are also facing growing regulatory scrutiny, with frameworks like GDPR enforcing strict data protection requirements. Compliance with these regulations is essential not only to avoid fines but also to maintain user trust. As the regulatory environment becomes stricter, app security solutions need to address these evolving standards proactively. 

 

V-OS App Shield: A Future-Ready Solution 

To address these threats, V-Key’s V-OS App Shield provides a powerful, no-code and easy-to-implement solution for securing mobile apps. This no-code protection service wraps a security layer around the app without requiring any changes to its underlying functionality. It ensures that your app is secure without the need for complex integration or source code modification. 

 

Three Simple Steps to Protect Your App: 

  1. Upload Your App: You simply upload the app to the V-OS App Shield platform, and choose the protection setting and threat response. 
  2. Deploy the Protection: Once uploaded, V-OS App Shield deploys multi-layered security features, including encryption and anti-tampering technologies, blocking malware and securing sensitive data. 
  3. Download your Protected APK: Once protection is applied, download your secured app.  

 

Real-World Application: The Retail Sector 

In the retail industry, mobile apps are critical for online shopping, customer loyalty programs, and transactions. These apps handle substantial amounts of personal and payment data, making them attractive targets for cyberattacks. Retailers and other businesses should consider implementing V-OS App Shield to bolster their app security. This no-code solution provides robust end-to-end encryption, which can protect customer information from unauthorized access and data breaches while ensuring the app’s performance remains unaffected. 

 

Why V-OS App Shield Stands Out 

Unlike other solutions, V-OS App Shield offers a cloud-based service that is certified by third-party labs using globally recognized security standards such as FIPS 140-2 and Common Criteria. The solution provides multiple layers of protection, including encryption of sensitive data like security tokens and API keys. SOC 2 compliance ensures the service meets industry best practices for security and reliability. 

With V-OS App Shield, businesses can focus on their core functionalities while trusting that their apps are protected against threats. As app security becomes more critical in the face of sophisticated attacks and regulatory pressures, adopting a solution like V-OS App Shield ensures that your mobile app is future-proofed. 

 

Article
Beyond OTPs: The Shift to Passwordless Authentication in Banking

The Bangko Sentral ng Pilipinas (BSP) is considering phasing out one-time passwords (OTPs) for digital banking transactions, citing the growing vulnerabilities of this method. BSP Deputy Governor Elmore Capule emphasized that the agency is exploring stronger security measures to make digital banking more resilient, with biometric authentication and other advanced technologies being evaluated as secure alternatives to OTPs.

Article
V-Key Continues to Expand in Australia to Strengthen Digital Identity and Authentication

V-Key strengthens its presence in Australia by participating in the FIDO Alliance events in Melbourne, reinforcing its commitment to digital identity and authentication. With discussions on passkeys, step-up authentication, and regulatory updates, V-Key highlighted how V-Key ID enhances security and trust. As digital transformation accelerates in Australia, V-Key continues to support enterprises in financial services, payment gateways, and government with innovative mobile security solutions. Expanding its local team, V-Key is dedicated to enabling seamless and secure digital interactions through advanced authentication technologies.

Article
Why Passwordless Authentication is the Future of Security

Managing passwords can be challenging. They can be difficult to remember, and often, people reuse them across multiple sites, which makes them a target for cybercriminals. In fact, according to the 2023 Verizon Data Breach Investigations Report (DBIR), over 50% of data breaches are linked to stolen or compromised credentials. This exposes sensitive data, whether it’s banking details, emails, or personal information, to potential risks. 

Article
Protect Your Business All Year with V-Key ID and FIDO2

Lunar New Year is a time for celebration for many people around the world, but it’s also a good opportunity for scammers who are always trying to entice victims to grab the next cheap online shopping deal. A common technique that scammers use is to lure a victim into installing a malware app that can then be used to phish user’s credentials, capture SMS OTPs, or even remotely control the phone to perform banking transactions. 

Article
V-Key’s 2024 Journey in Advancing Digital Security and Empowering Seamless Digital Experiences

As we reflect on 2024, V-Key is proud of the milestones we’ve achieved and the innovations we’ve introduced in the field of digital identity and mobile security. This year, we have remained steadfast in our mission to protect digital experiences and empower businesses with advanced solutions. From key industry events to groundbreaking technological advancements, we’ve continually strived to meet the evolving needs across various sectors.  

Article
5 Simple and Effective Ways to Secure Your Mobile App with V-OS App Shield

For businesses, especially those handling sensitive data or financial transactions, ensuring app security is no longer optional. The risk is real: attacks on mobile apps can lead to reputational damage, regulatory fines, and the loss of user trust.  

V-OS App Shield is a reliable solution designed to safeguard mobile applications. Beyond the basics of security, it offers a cost-effective approach that combines robust protection with ease of use. Here are 5 ways V-OS App Shield can enhance your mobile app security and deliver real-world benefits. 

Article
Introducing V-OS App Shield: Connect, Deploy and Protect your App in Minutes

Mobile applications are key to daily business operations, customer engagement, and overall functionality. According to Google, the average smartphone user interacting with nearly 10 apps daily and spending about 88% of their time on mobile, the need for strong mobile app protection has never been more pressing. Introducing V-OS App Shield, a revolutionary solution designed to secure your mobile apps fast and easy.

Article
V-Key partners with Bridge Alliance to build a Safer Digital Ecosystem

V-Key, renowned for its advanced security solutions has proudly joined Bridge Alliance as their technology Partner,  solidifying their commitment to innovation and excellence in mobile security. This partnership opens doors to explore new avenues for enhancing authentication experiences and mitigating cybersecurity risks.

Article
Making 2FA/MFA robust against smishing and related attacks

2FA/MFA was introduced to make it harder for attackers, by requiring two or more proofs of identity – also known as authentication factors. These can take many forms, but can be boiled down to: something you know (e.g., a password), something you have (e.g., a cryptographic key), or something you are (e.g., a biometric ID that is unique to you) [1].

However, 2FA/MFA is not a universal panacea that can be picked off a shelf and thrown in to solve any and all challenges presented by attackers.

Article
How do we determine the effectiveness of mobile apps’ security systems?

With the spate of remote working regime due to Coronavirus pandemic, the reliance and growth for video conferencing platform has been exponentially escalated. However, most mobile apps today are nowhere near as secure as we would like them to be.

Article
Is the detection of jailbroken/rooted phone sufficient against threats?

Functions that detect jailbroken/rooted devices are most commonly added to transactional mobile applications, serving as the most basic defense against threats. However, this is nothing but a drop in a bucket.

Article
Why Existing Mobile Software Protections are Insufficient

Recognizing that existing mobile software protections are insufficient against today’s cyber threat landscape, we take a closer look at the main types of software protections in the market.

Article
V-OS Protection against CPU vulnerabilities

Virtually every computing device in the world is made unsafe by the latest disclosures on Central Processing Unit (CPU) vulnerabilities. Find out how the virtual secure element technology is protecting millions of mobile application users against such vulnerabilities.

Article
V-OS Protection against Android Plugin malware

There has been a recent surge in Android malware abusing Android Plugin Frameworks for malicious behavior. DroidPlugin, Parallel Space and VirtualApp are several plugin frameworks that have been abused by malware in recent months to spread Android malware.

Article
Three steps to fight the Mobile Security status quo

Have financial institutions accepted a status quo that sacrifices user experience for increased security? With mobile digital identity quickly becoming central to an entire suite of online services, those who challenge the status quo will set themselves up to prosper and grow. Read more to find out three oft-ignored areas of research.

Article
Cryptography in V-OS

V-OS is the world’s first virtual secure element. Cryptography plays a dual-role in these; to secure and manage the secrets kept within V-OS, and to provide a lightweight yet comprehensive cryptographic library.

Article
Building V-OS with HSM

V-OS is the world’s first virtual secure element, a software solution with security built into the firmware code. These include secret cryptographic parameters and data, which need to be randomly generated and securely persisted, and are then transformed into code and data files.

Article
How does a Virtual Smart card protect a customer if they lose or change their mobile phone?

From banks to government agencies, many organisations are intrigued by and exploring software security solutions such as mobile tokens and mobile identity systems for individual identification, authorisation and authentication.

Article
Is software-based Biometrics Authentication the solution to ASEAN’s regulatory challenges?

Banks in Southeast Asia should look towards software-based biometrics as the way forward to navigate the regulatory differences in the region and secure their customers’ transactions.

Article
Infographic: The next frontier in Banking transformation

As technology evolves, banks and financial institutions have no choice but to innovate. However, when it comes to security, many still rely on traditional, costly methods.

Article
Mobile Security that works for everyone

Safe, convenient and simple.

Article
The next wave of Finance: Singapore’s growing Fintech market

With global cumulative investment in financial technology (fintech) forecast to exceed US$150 billion in three to five years, economies around the world are vying to attract fintech innovators and cash in on this growing industry.