Overview

Lloyds Banking Group is the UK’s leading provider of current accounts, savings, personal loans, credit cards and mortgages. It has over 30 million customers, with 15 million online banking users and 8 million active mobile users. A sizable minority of the bank’s customers are now mobile only, highlighting the bank’s drive to prioritize a “mobile-first” strategy and the increasing popularity of mobile banking.

The bank’s vision is to provide simpler, streamlined customer interactions across online and mobile. This has been brought to life in its mobile app, which allows customers to perform virtually all the same functions as on a desktop, providing choice, flexibility and convenience. The average online customer app login rate is now twice per day, in comparison to once via the browser, showcasing the success of the mobile app to drive customer loyalty and retention.

The level of trust that Lloyds and ThreatMetrix have built within the app’s security core means that customers can now use it as a means for authenticating transactions in other channels.

“ThreatMetrix is a massive part of our security framework, particularly in terms of Device ID. This has really helped us grow our mobile banking business and puts us in a great market position today.”

Ryan Gosling, Mobile Banking Manager, Lloyds Banking Group

Business Problem

Digital transformation is at the heart of the UK’s current banking ecosystem; particularly as European banks stand on the precipice of one of the largest revolutions in the digital payments landscape with PSD2. Lloyds is at the forefront of this transformation, prioritizing a mobile-first strategy that is visionary for providing a full-service mobile banking app that customers can access without friction, wherever and whenever they choose.

Lloyds sees this as the linchpin of its PSD2 strategy; continuing to offer customers the best possible online experience for all their banking needs, even as new payment providers enter the market. This relies on accurate authentication of returning customers within a friction-free login process.

“We see the Mobile banking app as integral to retaining customers in the new open banking landscape of PSD2: if we continue to prioritize that slick customer experience, along with the full-service product offering, we will continue to grow our Mobile customer base.”

Ryan Gosling, Mobile Banking Manager, Lloyds Banking Group

End-to-End Mobile App Security Powered by Global Shared Intelligence

The ThreatMetrix Mobile SDK, in tandem with intelligence from the ThreatMetrix Digital Identity Network, helped build a currency of trust within the Lloyds mobile app, accurately authenticating returning customers in real time, with no associated friction:

  • ThreatMetrix Mobile is a lightweight software development kit (SDK) for Google Android and Apple iOS mobile devices, supporting complete authentication and fraud protection for the mobile channel. This includes: application integrity evaluation, advanced persistent device identification, malware detection, location services, jailbreak and root detection technologies, anomaly and device spoofing detection and dynamic configuration and updates. Key features for Lloyds include:
    • Location Services
      Latitude and longitude information is gathered from GPS hardware and IP addresses are compared with physical locations to detect the use of proxies and VPNs. Existing application permission levels are leveraged to avoid user inconvenience.
    • Anomaly and Device Spoofing Detection
      Detects device emulation, tampering, root/jailbreak cloaking, and other anomalies that may indicate fraud. Automatically detects device and data spoofing by analyzing the network traffic packet signatures originating from the device.
  • The ThreatMetrix Digital Identity Network collects and processes global shared intelligence from millions of daily consumer interactions including logins, payments, and new account applications. Using this information, ThreatMetrix creates a unique digital identity for each user by analyzing the myriad connections between devices, locations, and anonymized personal information. Behavior that deviates from this trusted digital identity can be accurately identified in real time, supporting frictionless authentication for trusted users.

“The product developments within the ThreatMetrix Mobile SDK are going to help put us in a good place with regard to detecting malware, jailbroken and rooted devices and strong device ID for PSD2. It aligns really well with our strategy for shoring up the security of app registrations.”

Ryan Gosling, Mobile Banking Manager, Lloyds Banking Group

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