Norwegian security specialist Promon has announced that its customer base has now surpassed 11 million customers worldwide.
The security specialists, who have set about delivering true app security and mitigating against increased risk in mobile banking apps, has built up the large customer base over six years, since its launch in 2009. The firm launched its flagship app security product PromonShield in the UK in 2014, and now plans to overhaul security in the UK banking sector.
Promon’s technology centres on the idea of self-defending apps built or linked into an application or application runtime environment, capable of controlling application execution and detecting and preventing real-time attacks. The software is a proactive solution designed to stop malware attacks before they do any harm, without changing the customer experience, even on devices that have been compromised or when vulnerabilities are caused by the user.
Gordon Young, UK Sales Director at Promon, said: “There is no product available on the market that can both detect and prevent against mobile breaches in the same way that we can and our huge growth is testament to this fact. Almost the entire number of mobile banking apps are lacking vital security and are therefore highly vulnerable to attacks which unless addressed properly now, will lead to a loss of confidence in UK mobile banking.
“Given the uptake of mobile banking apps for both day-to-day use and larger transactions, bank customers should be very concerned. Banks cannot afford to stand by and watch the continued rise of banking cyber fraud and must embrace the idea of self-defending apps.”