The state of mobile finance app security in 2021

Dramatic changes last year drove organizations and consumers to change the way they conduct all types of financial business. With offline interactions curtailed by the COVID-19 pandemic, use of finance mobile apps and other digital channels skyrocketed across the globe.

The rapidly evolving threat landscape makes it critical for financial institutions to prioritize their mobile application security. Fintech firms realize this on some level. A Verizon survey found that 92% of financial services companies say organizations need to take mobile security more seriously. Yet 43% knowingly sacrificed mobile security to meet a deadline or productivity target6—despite a slew of new or updated security regulations set to hit in 2021.

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