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Key Lessons from 2011 What Have We Learnt?. Different Development Philosophies Banks Focus on Security and Interoperability Lots of documentation, Minimal Change Restricts innovation ? Mobile Application Developers Fast to market, regular addition of new features
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Key Lessons from 2011 What Have We Learnt? • Different Development Philosophies Banks • Focus on Security and Interoperability • Lots of documentation, Minimal Change • Restricts innovation ? Mobile Application Developers • Fast to market, regular addition of new features • “Rapid Development” (minimal documentation) • Opportunity for errors? We will fix them in later releases Please Copy and Distribute
Key Lessons from 2011 Risk – Products are Insecure What a card looks like to a Square credit card reader Please Copy and Distribute
Key Lessons from 2011 Perceived Value of Data on Phone • What is the Value of the Data on Your Smartphone • iPhone sales in Lagos • Same Connector used to Charge and Back Up Data • Juice Jacking (DefCon 2011) • Mobile charging point that doesn’t just charge your mobile device but instead takes advantage of automatic sync capabilities Please Copy and Distribute
Key Lessons from 2011 Malicious Applications • Mobile Malware • Applications that seek to retrieve credentials or fake transactions • Principally Key-Loggers or Trojans • QR Codes have been used to spread Malware • Increase MNO’s Customer Service Costs • Smart Tags Deliver the Same Functionality • Sales of Mobile Anti- Virus Software is Minimal Please Copy and Distribute