Although mobile apps for business aren’t new, companies have been reluctant to migrate key functions — such as corporate treasury — away from the desktop environment. This is largely due to concerns about security. The good news is this is starting to change, since mobile security is now on par with desktop and can bring great efficiencies and convenience.
With more treasury staff expecting the ability to work outside of the office, the time is right for more companies to offer employees mobile access to their corporate banking portals.
ADVANCED SECURITY, EVOLVING WORKER PREFERENCE
An increasingly secure mobile ecosystem is creating more confidence in mobile access. Mobile has many of the same safeguards as desktop, plus built-in fingerprint and retina logins on many devices, which alleviate the risk of employees using unsafe passwords. Most devices also feature native security features like “app sandboxing,” which prevents apps from accessing each other’s data.
Evolving worker preference is another factor. Treasury employees increasingly want the ability to work untethered from an office desktop, and corporate banking apps can make it possible.
MOBILE SECURITY BEST PRACTICES
- Use business apps only through secure networks, ideally protected by a VPN, and never through public Wi-Fi
- Disable Bluetooth when not in use
- Install soﬅware patches and updates immediately
- Create strong passwords, and use biometric protection whenever possible
- Avoid setting auto-logins, digital password keychains and “remember me” options
- Discourage employees from “jailbreaking,” “rooting” and otherwise disabling their phones’ native security
- Be aware of text message “smishing” attacks, and never click links or open attachments from unfamiliar senders
- Create a process for remotely wiping sensitive data from a lost or stolen device