Mobile security (or mobile device security) safeguard smartphones, tablets, laptops and other portable computing devices from external threats. The system has the capability to protect mobile networks from vulnerabilities associated with wireless computing
Securing mobile devices has become important in recent years as the number of devices in operation and their purpose have expanded drastically. The problem can be traced within the enterprise as the ongoing trend toward IT consumerization has resulted in more employee-owned devices which are connected to the corporate network. Smartphones collect and compile a large amount of personal information. The access to such data must be controlled to protect the privacy of the user and the intellectual property of the company.
Security counter measures are being developed and applied to smartphones, to ensure safe circulation of information to end users. Companies providing mobile security ensure the safety of private information through the development of operating systems, software layers and downloadable mobile apps.
Despite such high-level securities and safe-guarding options,hackers can engineer passwords from users, leaving consumers and enterprises vulnerable to identity theft, bank fraud, fraudulent purchases and data theft.
To address such issues, four major wireless carriers – Verizon Communications Inc. (VZ - Free Report) , AT&T Inc. (T - Free Report) , Sprint Corp. (S - Free Report) and T-Mobile US Inc. (TMUS - Free Report) – are teaming to provide a new method of mobile security solution through the creation of the Mobile Authentication Taskforce. All the above-mentioned companies currently carry a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The wireless operators have decided to combine their respective technologies and resources to develop an advanced, mobile authentication solution. This solution is expected to help reduce mobile identity risks by analyzing data and activity patterns on a mobile network using network-based device authentication, geo-location and SIM card recognition. They intend to use this information to predict the identity of the user. In simpler words, they are aiming to improve the already existing two-factor authentication (2FA) security with some add-ons.
This mobile authentication solution will be offered to consumers and enterprises in 2018.
With rapid technological innovation and invention of new products and services the provision of mobile security solution marks a strategic business move. In such a scenario, it will be interesting to see how these wireless carriers work together to achieve their targeted security standards.
By taking an open approach to the solution, the taskforce aims to work with the app developer community, industry organizations and third parties to make this vision a reality. Providing customers with an effortless, safe experience is in the best interest of the public and the industry.
Notably, it is very rare for these four domestic wireless companies to join hands for a common purpose. The U.S. wireless industry has always witnessed cut-throat pricing competition. This has compelled these companies to extend their unlimited data plan war to the prepaid and postpaid market as well.
It’s a positive sign that the major wireless players are concerned about consumer security and personal data, which justifies their consumer-friendly approach. We await to see what the future unfolds.
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