COMPLIANCE COMPLEXITY
Maintaining compliance with stringent regulations like PCI DSS and strong customer authentication.
The Tier 1 bank is a major financial institution with a significant presence in the UK. They are committed to providing secure and innovative banking solutions to their customers. The primary contacts at the Tier 1 bank were the security architecture team within the mobile and digital business unit, responsible for ensuring the security of their mobile applications and digital services.
PROBLEM
The Tier 1 bank needed to protect their mobile applications and maintain secure communication with backend systems while complying with stringent regulatory requirements and preventing fraud
SOLUTION
Cryptomathic provided a comprehensive security solution that included robust protection for mobile applications, secure communication protocols, and compliance with regulatory standards
RESULTS
Enhanced security, improved regulatory compliance, reduced fraud, and scalable solutions for future growth.
THE CUSTOMER VIEW
"Cryptomathic's expertise in cryptography and their comprehensive security solutions have been instrumental in transforming our mobile application security. Their support and partnership have allowed us to meet regulatory requirements and protect our customers' data effectively."
In today's digital age, mobile banking is a critical service for financial institutions. Ensuring the security of mobile applications is paramount to protect customer data, prevent fraud, and comply with regulatory standards. Banks that can provide secure and reliable mobile banking services gain a competitive edge and build trust with their customers.
As a Tier 1 bank, it is paramount for them to provide secure and innovative banking solutions without disruption. As the bank expanded its digital services, it focused on maintaining high-security standards and complying with regulations such as PCI DSS and strong customer authentication.
COMPLIANCE COMPLEXITY
Maintaining compliance with stringent regulations like PCI DSS and strong customer authentication.
FRAUD DETECTION
Implementing robust measures to prevent fraud and protect customer data.
SCALABILITY AND SECURITY
The need for a technology partner that could provide scalable and secure solutions.
ROOT DETECTION
Safeguarding their apps by preventing them from running on rooted devices to avoid security breaches.
Cryptomathic was selected for its expertise in mobile application security, with its Mobile App Security Core (MASC) providing an unmatched combination of flexibility, scalability, and robust cryptographic protections.
Key Factors Driving the Selection of Cryptomathic:
CRYPTOGRAPHIC EXPERTISE: With over three decades of experience, we are pioneers in the field, possessing extensive knowledge in cryptography and security.
PROFESSIONAL SERVICES AND TRUSTED ADVISORS: Providing exceptional support and acting as an integral part of the Tier 1 bank's team, offering reliable advice and services.
COMPREHENSIVE SOLUTION: Completely satisfies the bank's stringent security and compliance requirements.
"Cryptomathic's comprehensive security solutions have allowed us to enhance our mobile application security and meet regulatory requirements effectively. Their support and expertise have been invaluable."
Through its partnership with Cryptomathic, the Tier 1 bank realized several strategic outcomes:
PREPAREDNESS FOR FUTURE COMPLIANCE
Met regulatory requirements and achieved strong customer authentication.
ENHANCED SECURITY
Improved protection for their mobile applications and secure communication with backend systems.
OPERATIONAL EFFICIENCY
Gain insights into mobile app activities (hooking, hacking, spying) to detect, report, and analyze potential fraud, maintaining robust customer data protection.
SCALABILITY
Ability to scale the solution across a wide range of devices and support new OS versions.
TRUSTED PARTNERSHIP
Ongoing support and trusted advice from Cryptomathic.
Cryptomathic’s comprehensive cryptographic and security solutions have been pivotal in the Tier 1 bank's digital transformation, particularly in enhancing mobile application security. By providing a secure foundation, maintaining regulatory compliance, and supporting scalable solutions, Cryptomathic has enabled the Tier 1 bank to protect their customers' data and maintain the highest standards of security.. Together, Cryptomathic and the Tier 1 bank are setting a new standard for secure mobile banking services.
"Given the security and compliance scope that Cryptomathic takes on, we fully trust their solutions to protect our customers' data and support our digital growth."