Want branchless banking? Live in the developing world? Oops

Although billed as a more secure option to cash, branchless banking apps are dangerously insecure, according to the team of five.

After carrying out an automated analysis of all 46 known Android mobile money apps across the 246 known mobile money sites, an exercise that "fails to provide reliable insights", the researchers turned towards a "comprehensive manual teardown of the registration, login, and transaction procedures of a diverse 15 per cent of these apps".

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Mo(bile) Money, Mo(bile) Problems: Analysis of Branchless Banking Applications in the Developing World