One third of companies use m-banking: Survey

mobilebanking-505_021612014436Over 30 per cent of companies are using mobile banking for corporate bank accounts for any financial transaction, revealed a survey by Kaspersky Lab and B2B International. The report highlights that business representatives are increasingly doing financial transactions with the mobile devices. Around 28 per cent of small and medium companies and 34 per cent of enterprises are using mobile devices for transactions.

The reports says that 63 per cent top managers, 54 per cent ordinary employees and 89 per cent working population make financial transactions through mobile apps. However, this growing trend of using mobile banking is putting companies at risk as mobile cyber threats have become much more widespread in recent years and are dangerous to users as computer-based threats.

Vulnerable to easy hacking, Kaspersky Lab products for mobile devices detected more than 3,00,000 new malicious programme. Of these, the highest growth rates were demonstrated by a Trojan-Banker designed to steal credentials to Internet banking and e-payment systems, as well as credit or debit card data. The share of this type of malware increased from 0.6 per cent in the second quarter of 2015 to 1.5 per cent in the third quarter.

“The trend shows a continual increase in mobile banking usage by corporate banking clients. This trend is certain to continue as corporate and consumer banking clients alike migrate to the convenience of mobile banking. This creates an operational imperative for banks to very carefully consider the security and fraud prevention approaches they need to take in order to adequately ensure secure mobile banking applications, protect confidential customer data, and guard high-value corporate customer transactions. All users of mobile banking services, corporate and consumer, must also be vigilant about their own security and behaviour while also questioning their bank about the measures taken to ensure their safety,” says Ross Hogan, Head of SafeMoney Business Development, Kaspersky Fraud Prevention, Kaspersky Lab.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.