How to Create Strong Identity Verification Within Mobile Applications

  • Phone Verification

At the center of all web-based transactions is the process of managing fraud and identity theft. Its essential to balance the inconvenience of user authentication with the risk of being compromised. Theres a fine line in determining when exactly theres enough correct user information to allow the transaction to be processed. Implementing strong mobile security tactics is a difficult task many industries are facing today. Were now in the midst of shifting our focus to protection of mobile devices, not desktop computers, because they are and will remain the platform for the most transactions.

Mobile devices create new challenges to securing Internet services. Although small, touch-screen keyboards make it inconvenient to enter complex passwords most devices offer the remember password feature. This is helpful, except for the fact that mobile devices are easily lost and stolen on a regular basis. Two-factor authentication is a security feature intended to protect access to online bank accounts. Cybercriminals are finding more ways to make it less effective and easier to take advantage of. Many banks offer their customers two-factor authentication, which involves sending an SMS message to the users mobile device with a code thats entered into a web-based form. The code expires in a few minutes and is intended to keep fraudsters out who have the users login credentials.

Most organizations believe that its not safe to rely on SMS-based two-factor authentication anymore. Financial institutions have been slow to keep up and its hurt them in the long run. As mobile banking continues to grow, more applications have security weaknesses. Applications should be revised to include stronger browsers, identification and authentication and even biometrics to ensure users are who they say they are. Without enhancing your organizations fraud prevention solution, you will always be more vulnerable to fraudsters. If you need help planning your fraud prevention strategy, give us a call.

[Contributed by EVS Marketing]