When we talk about Approov API Threat Protection, we usually talk about it in the context of ensuring that only genuine instances of your own mobile app can use your API to access your backend servers. However, there is another use case which occurs commonly in our customer base - ensuring that only your SDK can use your API where you distribute your SDK to your customers. Here also, Approov is highly effective.
Mobile applications play an increasingly important role in our lives -- and the current global lockdown due to the COVID-19 situation has led to a surge in the download of financial technology or fintech apps. According to research by the deVere Group, the coronavirus pandemic has fuelled a massive 72% rise in the use of fintech apps in Europe. But while this spike in adoption and usage provides encouraging news for the fintech industry, these mobile apps present a real threat, with hackers looking for new ways to bypass software defences, or to exploit security vulnerabilities.
The Android app store contains numerous Cloner Apps. These are an increasingly popular category that allow you to have multiple accounts associated with an app, such as a social media or messaging app. Our analysis shows that such apps introduce some really concerning potential security isolation risks that you should be aware of so that you can decide if you want to enable features to block the use of such cloner apps with your own app.
In the world of banking, security has always been important and the recent breach at Tesco Bank is a timely reminder. With an increased appetite for regulation in the banking sector and in the realms of data protection it is becoming ever more important for responsible companies to take action to tighten up their defences against the constant threat of data theft and fraud. Regulation is becoming a powerful lever to encourage banks to have robust mechanisms in place to protect their customers. The EU's General Data Protection Regulation (GDPR) raises the possibility of heavy fines if you fail to take steps.