Tag: nfc security

Banking card mobile security tech experiments launched at Lloyds

It may soon be possible for customers of Lloyds Bank to use their contactless card to authorize smartphone transactions.

Customers of Lloyds Bank who have both a contactless debit card and who have an NFC technology enabled device may soon be able to combine the two in order to enhance the mobile security of the banking app so that they can authenticate their identity.

The authentication tech has been nicknamed “tap to bank” and the pilot program involves 125 people.

The participants in the mobile security experiment will replace the current authentication method that uses call to mobile, with a quick tap of the contactless debit card against the smartphone. According to Lloyds Bank, this type of authentication feature could one day be broadened to complete other types of task, as well, such as for the verification of new payments.

It is clear that this new mobile security technology is only at the very beginning of its use by the bank.

Mobile Security - Lloyds BankAccording to Marc Lien, the Lloyds Bank director of innovation and digital development, “With the widespread take up of contactless cards and most new smartphones now having NFC technology, this tap to bank trial is developing enhancements to banking processes that many people could benefit from.”

The bank is also currently working to replace the automated authorization phone calls that are currently used for the confirmation of certain transactions completed over desktop, as well. In that case, the user can verify requests by logging into the mobile banking app.

That process will be available to individuals who are setting up repeat orders, who are establishing new beneficiaries, who will be making an international payment, or who will be resetting their passwords by way of Internet Banking over a laptop or desktop computer.

Lloyds has explained that these new methods of authentication by way of mobile security technology makes the process considerably faster and more convenient than the automated phone call. Its current estimates are that the entire process could now be done in under 20 seconds, when compared to the lengthier method using the automated calls. Mobile banking is becoming increasingly important among the bank’s customers and is more than likely a driving factor behind this experiment.

Mobile security investment made by Alibaba

It has been reported that the online marketplace has spent tens of millions on the LBE Security Master app.

The massive Chinese online shopping marketplace, Alibaba, has reportedly send tens of millions of dollars in funds into the LBE Security Master smartphone and tablet antivirus tool in order to be able to make a stronger presence within that industry.

The LBE Security Master is a HIPS Android app that found its beginning as an online discussion.

HIPS stands for host intrusion prevention system. It is an installed type of package of software that monitors a single host through the use of any of a number of different kinds of methods of detection. It can then identify suspicious activity through the analysis of the events that are occurring in that host. This mobile security app got started as a Meizu forum group discussion.

This mobile security app can be used by smartphones to locate problems in real time.

Mobile Security InvestmentLBE Security Master has managed to create an adaptation of a mobile antivirus engine (the AVL) SDK for smartphones so that a monitor is in place for real time spotting of newly discovered spyware, adware, and malware.

The company has a number of different products within its portfolio, including the LBE Security Master, but also privacy space, one click root, and management of authentication. The latest version of the product also includes a privacy management function feature for near field communication (NFC).

Alibaba and this company reportedly have the intention of rolling out the distribution platform, the Taobao Mobile Helper app, so that they will be able to create a mobile payments product which will be developed as the Alipay Wallet. All of the top local internet companies have come up with their own mobile security services that will provide for that sector. For instance, the Baidu Phone Protector was just launched by Baidu for what appears to be a relatively similar purpose. Alibaba looks to be working to keep on top of this trend so that it will be a part of leading the way instead of falling behind and losing its position in very important areas.