Mobile phone apps are more popular than ever with a rapidly expanding user base each year. They have literally made everything come to the fingertips of the users and there’s a significant demand for mobile apps for just about everything, generating great competition and pressure among app developers around the world.

BFSI (Banking, Financial Service and Insurance) organizations have remained a primary target of cybercriminals over the last several years. Given the amount of sensitive data that the BFSI sector has to deal with, they become an obvious goldmine for hackers and that is why they have to prioritise cybersecurity above all else. As a matter of fact, more than 70% of fintech companies cited information security as their top concern in the Sixth Annual Bank Survey.

The unexpected and rapid switch from the global workforce to the WFH setup caused by the coronavirus pandemic has prompted companies around the world to make extensive infrastructure adjustments to support employees working exclusively from home. According to the new IDC forecast, the number of mobile workers in the US will steadily increase from 78.5 million in 2020 to 93.5 million in 2024 over the next four years.

IDOR is a broken access control vulnerability where invalidated user input can be used to perform unauthorized access to application functions. IDOR can result in sensitive information disclosure, information tampering etc. This issue was previously part of OWASP top 10 2007, later it was merged with OWASP top 10 A5 Broken Access control vulnerability.

Mobile application security testing (MAST) covers a wide range of topics, including authentication, authorization, data security, session management, and vulnerabilities for hacking. The mobile AST market is made up of buyers and sellers of products that identify vulnerabilities and apps used with mobile platforms during or post-development.

Cybersecurity incidents aren’t rare for businesses now. In fact, in the first 6 months of 2021, around 1767 data breach incidents rocked the business world and exposed more than 18 billion records. And one of the hardest-hit industry verticals from threatening cyber-attacks is the financial industry.

Neo banks are fighting an uphill battle. Not just because they have to convince consumers to choose them over long-established institutions, but also because legislators often lack the understanding of technology as well as the eagerness to give them a fair chance. From strict AML laws and KYC processes to fraudsters and criminals looking to take advantage, neo bank security is a major concern.

Who would hate the quick and easily applicable way to create application software? How is it even possible? Doesn't application development demand countless planning, design, testing, and most crucial thing, codes? Well, there was a time when it was required, but now, the low-code development approach helps enterprises build an app with little to no code. Sounds fantastic, right? The low-code development expedites business results and empowers them by speeding up the development of new applications.

Stats suggest that 43% of cyber attacks target small businesses and 60% of these attacks are encountered within the first 6 months of setting up a business. While the horrors of cyber attacks are known to everyone, getting such a fatal blow right when you are starting, can send your startup on a trip to Bermuda Triangle! However, proper planning and having a reliable security strategy can help you bring back from the place of no return!