In this article, we will discuss cybersecurity in fintech — why it is important and how to implement it.
In this article
- Cybersecurity in Fintech — Why Is It Important?
- How to Ensure Cybersecurity in Fintech?
- Top FAQs on Cybersecurity in Fintech
Cybersecurity in Fintech — Why Is It Important?
Finance technology has gained a lot of popularity in recent years given the easy accessibility and flexibility it adds to the financial operations for common users. According to Allied Market Research, the global fintech technology market will be worth $698.48 billion in 2030.
The advancement in technological infrastructure and flexible regulatory laws as compared to those for the traditional banking systems are the main reasons. However, cyber threats remain a great concern for fintech software solutions.
Leniency in regulatory laws often results in the poor or incomplete implementation of security procedures by the fintech service providers. As a result, the fintech industry is often targeted by cybercriminals through various kinds of attacks, including malware, denial of …