Client Profile
A leading financial services company providing online banking and digital payment solutions needed to ensure its web and mobile applications were secure from cyber threats. Given the nature of their business, the company handled sensitive customer financial data, making security a top priority.
Challenges Faced
Before undergoing Application Penetration Testing (App Pentesting), the company identified several concerns:
- Potential vulnerabilities in their web and mobile applications that could lead to data breaches.
- Lack of proactive security testing, exposing the company to risks such as SQL injection, XSS, and authentication bypass attacks.
- Compliane concerns with regulatory frameworks such as PCI DSS, GDPR, and NIST that required regular security testing.
- Growing cyber threats targeting financial institutions, including credential stuffing and API abuse.
Our Approach
To strengthen the company’s application security, we conducted a comprehensive penetration testing engagement, identifying vulnerabilities and providing remediation strategies.
Scoping & Threat Modeling
Before starting the penetration test, we worked closely with the client to:
- Define the scope of testing (web and mobile applications, APIs, authentication mechanisms, and third-party integrations).
- Identify threat models specific to financial applications, such as unauthorized transactions and account takeovers.
- Determine testing methodologies (Black Box, Gray Box, and White Box testing).
Security Testing Execution
Using industry-standard frameworks such as OWASP Top 10 and NIST SP 800-115, we performed an in-depth application penetration test, which included:
- Reconnaissance & Information Gathering – Mapping the application structure, identifying exposed endpoints, and collecting intelligence on potential attack vectors.
- Automated & Manual Testing – Using tools like Burp Suite, OWASP ZAP, and Kali Linux to identify vulnerabilities and validate findings manually.
- Authentication & Authorization Testing – Checking for weak authentication mechanisms, privilege escalation issues, and improper session management.
- API Security Testing – Assessing API endpoints for Broken Object-Level Authorization (BOLA), Insecure Direct Object References (IDOR), and rate-limiting issues.
- Input Validation & Injection Attacks – Testing for SQL injection, cross-site scripting (XSS), and command injection vulnerabilities.
- Business Logic Testing – Identifying flaws in transaction workflows that could be exploited by attackers.
- Mobile App Security Assessment – Evaluating data storage security, reverse engineering risks, and insecure API calls on iOS and Android apps.
Findings & Risk Assessment
Following the penetration test, we compiled a detailed report highlighting:
- Critical, High, Medium, and Low-risk vulnerabilities along with their potential business impact.
- Proof-of-Concept (PoC) exploits demonstrating how attackers could exploit weaknesses.
- A prioritized remediation roadmap to help the company fix vulnerabilities efficiently.
Remediation Support & Re-Testing
To ensure all security flaws were mitigated, we provided:
- Hands-on remediation guidance, helping developers patch vulnerabilities securely.
- Secure coding best practices to prevent recurring security issues.
- Re-testing of critical vulnerabilities to validate that all fixes were effective.
Compliance & Continuous Security
After completing the penetration test, the company achieved:
- Stronger security posture with proactive vulnerability detection and remediation.
- Compliance readiness for PCI DSS, GDPR, and other regulatory standards.
- Reduced risk of financial fraud and data breaches, safeguarding customer information.
- Enhanced trust and reputation, reassuring customers and stakeholders of their commitment to security.
Results Achieved
Within six weeks, the company successfully:
- Eliminated critical vulnerabilities, including authentication bypass and insecure API endpoints.
- Strengthened its web and mobile applications against cyber threats.
- Integrated security best practices into its software development lifecycle (SDLC).
- Established a regular penetration testing cycle, ensuring ongoing security improvements.
Conclusion
By leveraging our Application Penetration Testing expertise, we helped the financial services company proactively identify vulnerabilities, enhance security controls, and achieve compliance with industry regulations. Our structured approach, from threat modeling to remediation, ensured the company was well-prepared against cyber threats.
Need Application Penetration Testing?
If you’re looking to secure your applications and identify vulnerabilities before attackers do, reach out to us today for a customized penetration testing engagement.
COE Security LLC
COE Security is a leading cybersecurity services provider, offering comprehensive solutions to address the evolving threat landscape. We have a proven track record of helping organizations of all sizes mitigate risks, strengthen defenses, and recover from cyberattacks. Our team of experienced cybersecurity professionals possesses deep expertise in the latest technologies and best practices, enabling us to deliver tailored solutions that meet your unique security needs.
We offer a wide range of services, including:
Security Services
- Application Penetration Testing – Assessing the security of applications by simulating real-world attacks to identify vulnerabilities.
- Mobile Application Penetration Testing – Evaluating the security of mobile applications on Android and iOS to detect potential risks.
- Web Application Penetration Testing – Identifying and mitigating security flaws in web applications to prevent cyber threats.
- Thick Client Penetration Testing – Testing desktop applications to uncover security gaps that could be exploited by attackers.
- API Penetration Testing – Ensuring the security of APIs by detecting vulnerabilities that could lead to unauthorized access or data leaks.
- Network Penetration Testing – Evaluating network infrastructure for weaknesses that hackers could exploit to gain access.
- Hardware Penetration Testing – Identifying security flaws in hardware components that could compromise overall system security.
- Operational Technology Security Testing – Protecting critical industrial control systems from cyber threats and potential disruptions.
- Cloud Penetration Testing – Assessing cloud environments for vulnerabilities to ensure the security of cloud-based assets.
- AWS Penetration Testing – Conducting security assessments for AWS environments to detect and mitigate risks.
- GCP Penetration Testing – Evaluating security risks in Google Cloud Platform (GCP) to safeguard cloud assets and infrastructure.
- Azure Penetration Testing – Identifying vulnerabilities in Microsoft Azure cloud environments to prevent unauthorized access.
- Alibaba Penetration Testing – Ensuring the security of Alibaba Cloud infrastructures against evolving cyber threats.
- AI & LLM Penetration Testing – Assessing security risks in artificial intelligence (AI) and large language model (LLM) applications.
- Red Teaming – Simulating advanced attack scenarios to test an organization’s cyber resilience against real-world threats.
- Social Engineering Service – Identifying human-related security weaknesses through phishing, impersonation, and other social engineering tactics.
- Product Penetration Testing – Evaluating security vulnerabilities in software and hardware products before deployment.
- IoT Security – Securing connected devices to prevent them from becoming entry points for attackers.
- DevSecOps & Secure Software Development – Embedding security into the software development lifecycle.