Kern Smith , VP of Global Solutions at Zimperium , explores the growing risks of sideloading in the financial services sector . While sideloading enables organisations to bypass app store restrictions for proprietary applications , it also exposes devices to significant security threats , with cybercriminals increasingly targeting financial firms . Smith highlights the importance of integrating Mobile Threat Defence technology to safeguard sensitive data and protect businesses from cybercrime . he global economy moves quickly and the financial

T services sector has to keep up . The mobile device has been a central part of transformation in an industry where stakeholders have to stay available around the clock and tuned in to economic changes that can happen on the other side of the world at a moment ’ s notice .

Given the amount of money , proprietary information and intellectual property that these kinds of organisations handle , one might think that these devices would be at the centre of any cyber-resilience strategy a financial services firm maintains . Yet , Zimperium ’ s 2024 Global Mobile Threat Report ( GMTR ) shows one particularly grave mobile risk in the sector :

Sideloading . This is by far the largest mobile threat to the sector , accounting for 68 % of the risk against the sector .

It ’ s not clear why this should be such a disproportionately large problem within financial services , but there are some possibilities . Firstly , financial services organisations are often early adopters and pioneers when it comes to IT . Investment in this area gives them a real edge in what are often tight competitions . It ’ s conceivable then , that custom applications such as trading platforms and analytics tools may be present on those devices . On top of that , sideloading may help financial services employ tailored mobile solutions for employees and partners , for which they may want to bypass app store controls which will also allow them www . intelligentfin . tech

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