The rise of new technologies and platforms and the threat of malicious hackers are causing extraordinary cybersecurity challenges to Fintech firms.
These businesses have to protect themselves against cyber-attacks while safeguarding sensitive personal and financial data of customers.
Firesand has recently completed cyber security assessments for companies in the Fintech sector, helping to maintain their security and integrity.
Chris Blake, Director, and Principal Data Protection & Privacy Consultant, said: “Businesses in the Fintech sector can be open to cyber attacks like data breaches, ransomware attacks, and phishing attempts. If hackers get unauthorised access to sensitive information they can cause great disruption and damage a firm’s reputation.”
The work carried out included vulnerability scanning and penetration testing to check for flaws in the software, the infrastructure, and the processes used. By investing in these robust measures they can avoid potential financial loss, reduced customer trust, and damaged reputation.
Chris added: “It’s a regulatory requirement for financial institutions to undertake cyber security assessments. They have to be able to prove they have a secure system to meet compliance standards. And staying ahead of emerging threats protects the business and customers from future attacks.”
If you are a company in the Fintech sector contact us to find out how we can keep your business secure.