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Digital Banking and UEM: Building a robust security for online banking system

12 min read
Digital Banking and UEM: Building a robust security for online banking system

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Securing devices for digital banking using Hexnode

The banking industry has been around for decades and has played a crucial role in a country’s economic growth. However, in recent years, the industry has undergone significant changes due to the emergence of new technologies, and among all the innovations, mobility has had the most substantial impact. Mobility in banking refers to the use of mobile technology to assist organizations in meeting consumer expectations, increasing staff productivity, and reducing the cost of manual tasks.

The introduction of mobility in banking has led to the rise of digital banking, where customers can access and manage their accounts through their mobile devices. The increasing number of internet users, shift from traditional banking to digital banking, and adoption of cloud platforms and online payment systems drive the growth of digital banking. This growth also changes customer behavior and habits and how new marketing campaigns are developed. Additionally, the incorporation of artificial intelligence and machine learning, as well as an increase of sophisticated banking services and corporate investors, are expected to drive market growth further.

However, digital banking also comes with its challenges, such as security and regulatory issues, lack of awareness and doubt, partnership models, complex integration, platform scalability, and device management. To address these challenges, many banks are using unified endpoint management (UEM) software. UEM offers a single console for deploying, managing, and securing business endpoints and applications, as well as malware identification and clean-up on infected devices. This allows IT and security departments to have access to assets and end-users through a single management dashboard.

Hexnode is a UEM software that offers features such as bulk hands-free enrollment, integration with directory services, separate work and personal space, and reporting and analytics capabilities. In summary, mobility in banking has greatly changed the banking industry by introducing digital banking which allows customers to access and manage their accounts through their mobile devices. But digital banking also comes with its challenges, and banks are using UEM software to address those challenges and improve security.

The report highlights:

  1. The banking industry
  2. Emergence of Digital Banking
  3. Challenges of digital banking
  4. Securing Digital Banking with UEM
  5. Hexnode UEM in digital banking