When integrated with mobile banking applications, IBM Security Trusteer Mobile SDK will be able to detect compromised or vulnerable mobile devices, as well as preventing attacks by cybercriminals.
Developed for Apple iOS and Google Android platforms, the security library will also detect and block many kinds of man-in-the-middle attacks.
IBM spokesperson Vaibhav Khandelwal was quoted by the publication as saying: "Federal Bank, like many financial organizations, identifies that even if their mobile banking systems are secure, the compromising weak link in the chain is the endpoint device.
"IBM Security Trusteer Mobile SDK enables any bank, large or small, to secure their customers’ device against financial malware without having to worry about support calls from users who need help to activate or use the software. It just works in the background with no end-user intervention."
Using FedMobile, which is developed on IBM’s MobileFirst Platform, customers can transfer funds and make utility bill payments.
FedMobile will also facilitate other services such as top up/ recharge of mobile phones, payment of school fees, as reported by Communications Today.
Federal Bank IT head Johnson K Jose said: "Going the digital way, mobile was our preferred channel to reach out to our customers.
"Within the mobile ecosystem, we realized that, the customer machines were the point of compromise and these had to be safeguarded to build customers’ confidence. IBM’s Security Trusteer Mobile SDK equipped us to stop these attacks from coming in from unsecured customer device."
Image: Federal Bank selects IBM’s technology to improve mobile banking security. Photo: courtesy of blackzheep / FreeDigitalPhotos.net.
