April 15, 2019

min read

Lookout & Trustonic: Enhanced Mobile Security for Banking Applications

Lookout Application Defense and Trustonic Trusted Execution Environment provides customers with protection from cyberthreats targeting banking, payment and other critical mobile transactions

Mobile banking apps are increasingly becoming the primary channel for customers to manage their finances, transfer funds, deposit checks, pay bills, etc. Unfortunately, this trend has not gone unnoticed by cyber criminals, who have upped the ante on targeting mobile app users. Hackers are targeting mobile devices to steal login credentials and sensitive transaction data by taking advantage of malicious apps, banking trojans and phishing attacks to compromise customer accounts and commit fraud.

How Lookout and Trustonic address mobile banking security challenges

This strategic partnership provides unique market-leading capabilities designed to address the above challenges. Lookout App Defense solution provides comprehensive visibility and advanced mobile security protection against the spectrum of mobile risk. Lookout App Defense solution consists of iOS and Android SDK that can be embedded into customer-facing applications for friction-less deployment and leverages the Lookout Security Cloud used to protect over 170 million devices and 70 million applications worldwide.

The Trustonic Trusted Execution Environment (TEE) that is embedded in over 1.7 billion mobile devices provides hardware/software protection to enable secure trusted operations. Trustonic TEE can protect biometric keys, user credentials, and sensitive transactions on the device enclave to protect confidential information and is certified to FIPS 140-2.

The Lookout and Trustonic partnership becomes the ideal solution for companies looking to comply with the Payment Services Directive 2 (PSD2).  PSD2 requires financial services organizations to contribute to a more secure ecosystem by ensuring increased security and efficiency of the payments ecosystem. A major part of this process is ensuring greater security around mobile banking apps, which people now regularly use to manage their money.

The combined Lookout and Trustonic solution provides mobile device security, secure storage and secure transactions required for mobile POS solution.This partnership will focus on key industry verticals that require advanced mobile security including mobile financial services for mobile banking, payments and point-of-sale.  

To learn more about Lookout App defense, click here.

For additional information on Trustonic.