Summary

A pioneer in sustainable baking sought to upgrade their mobile and internet banking applications to offer enhanced functionality and a superior customer experience. Facing challenges with their previous security vendor due to complex maintenance and insufficient support, the bank partnered with Promon to implement user-friendly and cost-effective security solutions. By deploying Promon's Shield and JavaScript protection, the bank secured their native mobile apps and internet banking website against advanced cyber threats while reducing operational costs.

Company profile

The bank specializes in ethical and sustainable banking practices. Operating in European countries, it finances companies and projects that benefit people and the environment. As a financial institution, it faces stringent regulatory requirements and cybersecurity threats, such as fraud, data breaches, and attacks on digital banking platforms.

The challenge

In the early 2010s, many banks rapidly developed hybrid mobile applications that provided basic functionalities like checking balances and transferring money. These apps were essentially portals to their internet banking platforms and were not fully optimized for mobile use. As customer expectations evolved, native applications with enhanced features were needed to improve user experience and stay competitive.

However, adding more functionalities made these apps attractive targets for cybercriminals, who could exploit vulnerabilities to commit fraud, spoof APIs, and tamper with code. The bank faced several challenges:

  • Ineffective security solutions: Their previous security vendor's solutions were difficult to maintain and lacked adequate support for the fast-changing threat landscape targeting finance.
  • Increased cyber threats: As app functionalities were introduced, new vulnerabilities emerged requiring robust protection.
  • Regulatory compliance: It was crucial for banks to ensure that all security measures met strict financial regulations.
  • Cost constraints: Operating in a tight-margin industry, the bank needed cost-effective solutions that still met stringent regulatory requirements and customer experience expectations.

Promon's solution

Promon worked closely with the bank to implement security solutions that were easier to use, maintain, and more cost-effective:

  1. Promon SHIELD® for mobile app protection: The bank deployed Promon SHIELD to safeguard its native mobile applications against reverse engineering, code tampering, and unauthorized access. This enhanced mobile app security allowed customers to use banking services securely and confidently.
  2. JavaScript protection for Internet banking: As part of its security efforts, the organization applied JavaScript protection to its Internet banking to defend against client-side attacks like code injection and cross-site scripting (XSS). This secures the online banking platform and sensitive customer data and transactions from web-based threats.
  3. Responsive support and easy maintenance: Promon provided straightforward solutions for the bank's technical team to implement and maintain, along with responsive customer support. Reduced operational burdens allowed the bank to focus on delivering a better customer experience without the complexities of difficult-to-manage security tools. Instead, they could stand up application shielding in minutes with Promon SHIELD.

Results

  • Improved security posture: The bank achieved robust protection for both mobile and web applications against advanced cyber threats.
  • Cost efficiency: They realized cost savings due to more affordable solutions and reduced maintenance efforts, which are crucial in an industry with tight margins.
  • Enhanced operational efficiency: Easier-to-use and maintain security measures streamlined the bank's operations.
  • Improved vendor support: Promon's responsive and effective support benefited the bank, leading to a more secure and reliable banking platform.
  • Competitive advantage: By securing its next-generation applications, the bank improved customer experience, reinforcing its competitive edge in offering easy-to-use banking services.