Are financial apps facing security risks? Unlock HMS Core security detection service solution

In the era of digital economy, financial apps have become an important carrier for people to manage wealth, buy securities and stocks, and handle various banking businesses. Technology drives the transformation and upgrading of the financial industry, but at the same time as innovation and development, the types and scenarios of security risks faced by financial apps continue to increase. How to better avoid security risks? Xiaobian gives financial app developers a few tips to help you build efficient and agile application security capabilities.

Common security risk scenarios of financial apps

Financial apps generally involve the user's key identity information and property security, such as name, contact information, address, and asset and financial status. This makes financial apps easy to be targeted by criminals, and faces many security risks such as identity forgery and data leakage.

1. The equipment running on the financial app may have system environment risks. For example, a customer buys a rooted second-hand mobile phone, inadvertently installs a third-party root software, etc. If the third-party software on the device obtains the root authority, it is equivalent to mastering the highest control of the mobile phone, putting other applications and services on the device at risk. Hackers can access financial apps on devices through third-party root software, and then obtain sensitive information such as files and data stored in apps through illegal means.

2. Financial Apps may face the risk of abnormal network environment. The same mobile device will switch between 4G networks, home Wi-Fi, public area Wi-Fi, etc. in different network environments. The open Wi-Fi in some public areas such as shopping malls and restaurants has weak security and can be connected without a password. Hackers will use these vulnerable networks to intercept messages transmitted by users, logins being entered, transaction payment passwords, etc., resulting in multiple losses for users and companies behind financial apps.

All in all, if the security risks of financial apps are exploited, it will not only lead to leakage of users' personal information and damage to funds, but also affect the digital information assets of the apps themselves, resulting in negative public opinion.

The regulatory situation facing financial apps is gradually becoming stricter

In September 2021, the central bank issued the "Notice on Issuing Financial Industry Standards to Strengthen the Security Management of Mobile Financial Client Application Software" (hereinafter referred to as the "Notice"). In response to the security issues of mobile financial apps, the notice regulates management from five aspects: improving security protection capabilities, strengthening personal financial information protection, improving risk monitoring capabilities, improving complaint handling mechanisms, and strengthening industry self-discipline management. As the main body of responsibility, financial app developers need to take into account the severe tests faced by the external environment, and also take into account the strengthening of their own technical quality to resist numerous security risks.

HMS Core security detection service has cooperated with multiple financial apps

HMS Core safety detection service (Safety Detect) uses technology to empower financial industry entities and business systems such as online banking, mobile banking, and direct banking, improve the safety and risk control capabilities of financial apps in multiple directions, and enhance the app’s ability to control equipment systems, network environments, counterfeiting, etc. Ability to identify and deal with risks such as applications and phishing websites. At present, it has been applied in many countries and regions at home and abroad.

The HMS Core security detection service provides developers with multi-dimensional security services, and builds security capabilities for financial apps based on device environment, device signature, device image matching, and continuous behavior analysis. It has the advantages of low development and operation cost, time-saving and labor-saving. The specific capabilities and application scenarios are shown in the following table:

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