Companies in all industries are making their strategic plans
for 2013.With Q4 in full swing,
planning for the upcoming year can sometimes take second priority leaving
important implementations out of the planning. After interviewing
Jeff Davis, President & CEO, about planning for 2013 he stressed the
importance of having KBA
out of wallet authentication as a part of any businesss fraud prevention
solutions. The discussion of the threats that lie ahead for online businesses
made a natural transition into investigating mobile threats for the new year.
With mobile
banking app use up 74% in 2011 and a predicted 60% of mobile bankers
adapting mobile
wallets in the next year, mobile security is no subject to overlook. In an
interview with Javelin Strategy & Researchs, Tom
Wills, he states, Institutions should control and secure
what they can; and for what they can't control, they should deploy better fraud
analytics, authentication and device identification or finger printing.
While many companies arent quite ready for biometrics like finger printing and
retina scanning, mobile
security is a reality that many businesses may
not realize is affordable and obtainable. This year, EVS launched a mobile
security offering to help protect our clients and their
consumers from mobile fraud. As Wills discusses in his interview, companies
need to assess and understand their mobile banking and payment risks.
Often times, both business and customers can overlook mobile
security risks due to being blinded by the excitement of this new technology.
While its vital to stay ahead of the curve of technology, it is also equally
vital that both parties understand the dangers. Education is the first step to
stopping mobile fraud as more businesses move into the hands of their
customers. As an essential part of any strategic 2013 plans, companies should
assess, understand, and implement resources towards safer mobile business.
[Contributed by EVS Marketing]