Smartphones will come with data protection features built into their software in years to come, experts predict.
With more smartphone users relying on their mobile phones to access their bank accounts and store personal information, keeping data safe and secure from third parties will become increasingly difficult.
It is also important to remember that although current instances of malware doing damage to smartphone owners are minimal, the candid access that modern smartphones have to sensitive data of all kinds makes them attractive targets to criminals and identity thieves.
Authentication for mobile banking transactions could now require fingerprint recognition and this would certainly help to create a more secure system for remote access to financial services.
The main problem facing smartphone owners who have their phones stolen is that even if they block their SIM card, the thief could still download their data from the phone's internal memory.
The solution to this problem will be security software built into the smartphone which can be implemented remotely once it is stolen, initiating a complete memory wipe and rendering the stolen mobile harmless.
iPhone owners can already take advantage of the Find My Phone app, which can be used to trace the location of a stolen or lost iPhone online, displaying where it has finally ended up on Google Maps.