Integrated Framework for Information Security in Mobile Banking Service Based on Smart Phone

Since Apple launched the iPhone service in November 2009 in Korea, smartphone banking users are increasing dramatically, forcing lenders to develop new products to deal with such demand. The bank of korea took the lead in jointing together to create a mobile banking application that each bank can adapt for its own use. In providing smartphone services, it is of critical importance to take the proper security measures, because these services, while offering excellent mobility and convenience, can be easily exposed to various infringement threats. This paper proposes a security framework that should be taken into account by the joint smartphone-based mobile banking development project. The purpose of this paper lies in recognizing the value of smartphones as well as the security threats that are exposed when smartphones are introduced, and provides countermeasures against those threats, so that an integrated information security framework for reliable smartphone-based mobile financial services can be prepared, by explicitly presenting the difference between personal computers and smartphones from the perspective of security.