Global Foreign Exchange Bank Chooses Appdome to Secure its FX Trading App

Grupo Financiero Monex Incorporates the Appdome Mobile Security Suite into its Foreign Exchange App to Secure Transactions and Protect Against Mobile Threats

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Appdome

Dec 09, 2020, 09:00 ET

SAN FRANCISCO, Dec. 9, 2020 /PRNewswire/ -- Appdome, a no-code mobile security and solutions platform, today announced that Grupo Financiero Monex, a global foreign exchange bank with headquarters in Mexico City, is using Appdome's platform to secure its foreign exchange (FX) trading mobile app, Monex Móvil.

Seeing an increasing threat to mobile apps, and to mobile banking apps in particular, the Monex information security (infosec) team, on the direction of the CIO, made several proactive recommendations to strengthen the security of the Monex Móvil app. Appdome and its Mexico City-based partner, Incident Response Team SA de CV Shield Force, worked with the Monex infosec team during an extensive proof of concept period. The Appdome Mobile Security Suite satisfied all Monex' security requirements and passed multiple penetration tests with flying colors.

Monex secured Monex Móvil with the all-in-one Mobile App Security Suite in just minutes with no coding required. The suite includes:

ONEShield™ by Appdome: Protects against app tampering and debugging
TOTALCode™Obfuscation: Obfuscates the binary code to protect against reverse engineering
TOTALData™Encryption: Protects application data, strings and metadata with AES-256 encryption
Jailbreak/Root Prevention: Prevents rooting / jailbreak attempts and stops the app from running on untrusted or banned devices
Man-in-the-Middle Prevention: Creates and validates the authenticity of trusted communication sessions initiated by the app to prevent data leakage, man-in-the-middle attacks and other breaches
Mobile Privacy: Provides data loss prevention by adding copy/paste protection, keylogger prevention, disabling screen sharing and other measures.

"Monex Grupo Financiero has always made it a priority to offer the highest level of security to our clients in the financial services and products we offer," said Luis De la Vega, CIO at Monex. "That is why we have decided to partner with Appdome, so that we can ensure that all of our transactions meet the highest standards of quality and security demanded by the market."

"Mobile banking apps have the highest trust levels among mobile apps, according to Appdome's COVID-19 Mobile Consumer Survey. But that trust can easily be broken if the app suffers a breach," said Tom Tovar, Co-creator and CEO at Appdome. "We're seeing tremendous traction with global financial services companies who, like Monex, are taking proactive action to secure their mobile apps and protect the people and business who rely on their apps. We are honored that Monex chose Appdome to defend its mobile business. They are one of the many organizations in Mexico choosing Appdome to secure their apps and maintain the trust they have built with their customers."

About Appdome

Appdome's mission is to protect the mobile economy and the people who use mobile apps in their lives and at work. Appdome's industry defining no-code mobile security and solutions platform uses a patented, artificial-intelligence coding technology to power a self-serve, user-friendly service that anyone can use to build new mobile security, mobile threat, mobile fraud and enterprise authentication, access, UEM/MDM/MAM and more into any Android and iOS app instantly. There are over 25,000 unique combinations of mobile features, kits, vendors, standards, SDKs and APIs available on Appdome. Over 200+ leading financial, healthcare, government, and m-commerce providers use Appdome to consistently deliver richer and safer mobile experiences to millions of mobile end users, eliminating complex development and accelerating mobile app lifecycles. For more information, visit www.appdome.com

SOURCE Appdome