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Top 5 Android Application Vulnerabilities In Financial Services Sector

Financial institutions experienced a 238% increase in cyberattacks within the first six months of 2020 alone. The average cost of a data breach in the financial sector in 2021 is $5.72 million.
Following these trends, if your organisation is in the fintech or financial services space, there's an extremely high probability that it will fall victim to a very costly (economical + reputational) cyberattack.
In this study, we chose the top 100 most popular applications on the google play store and performed security assessments on their mobile apps. We provide details on the consequence of these vulnerabilities and mitigation strategies.