A new Entrust mobile study reveals the need for effective security solutions in mobile phones is greater than ever. According to the data, most mobile applications have a limited functionality when it comes to overall security.
In recent years many organizations, businesses and financial institutions have been adopting mobile apps to streamline online transactions and offer more services to their customers.
The study found that application security was a top concern, regardless of whether or not the organization had deployed any transactional mobile applications in the past. More than 50% of organizations that had not deployed such applications ranked this as one of their top three concerns, and more than 40% of those that had actually deployed applications still ranked it as a key concern. The results show that organizations do recognize the sensitivity of security and how posing threats can impact users.
Additional study findings showed that nearly 80% of organizations offer online transactions through their Web site, however many do not yet offer this same capability to mobile users. For those that do, only 31% of the online services and capabilities are available via the mobile platform.
Researchers say that layering security with these mobile applications will be reinforced as transaction-based platforms that are equal to the functionality of their PC-based Web counterparts are released.