Vodafone to offer transcoded banking services?
Reading a report in the Mobile Business Magazine, it seems that Vodafone are to offer Banking through their “Vodafone Internet On Your Mobile” as discussed in a previous blog .
Al Russell, Head of Vodafone Internet On Your Mobile said: “With the launch of the Vodafone Internet On Your Mobile we want to give customers access to all the services they see as essential, in the palm of their hand. Banking is one of the most important services that our customers use and by partnering with the Monilink network we can ensure that all of our customers are able to access their bank accounts on the move, whenever they wish.”
If Vodafone ate to be using their new transcoding solution to transcode the banking service, this will open a serious security flaw. Transcoding solutions need to be able to read the request, responses and content in order to perform the transcode. Stripping out the tags and unnesesary content items. As a result, the secure connection between the bank and the device is terminated at the transcoding proxy. This means, if the transcoder is compromised, all bank details can be obtained.
This will be a serious flaw in Vodafones strategy if true, and consequences will be following suit
Leave a Reply