TECHNOLOGY
authentication options and zero-trust network environments will play a crucial role in this aspect . “ Cybersecurity solutions will work seamlessly in the background , only alerting them [ organisations ] to a threat when they need to know about it . This approach will empower people to do their best work , without security getting in the way of them doing their jobs or hindering their productivity ,” Sadler adds .
The crux of the matter is that fintech security will be more effective and reliable in ten years , provided that service providers are willing to make the necessary upgrades . would benefit enormously from that level of automated cyber collaboration ,” says Simon Eyre , Chief Information Security Officer of Drawbridge .
Context-aware security is going to be the core idea of fintech security in 10 years . This aspect of security tech ensures that the infrastructure and networks remain secure with minimal user input . Hybrid
The areas where challenges exist Awareness seems to be an area where cybersecurity in fintech needs crucial improvement . While there are sufficient technologies to protect transactions and networks , making these technologies accessible to banks and other finserve institutions is a different matter altogether . Moreover , this aspect of the deal requires additional focus and effort in developing countries , where the banking systems still need a push towards modernity .
“ For too long cybersecurity solutions have focused on protecting the machines in an organisation , and not the people running the machines and handling huge amounts of data . As a result , data breaches caused by human error are at an all time high ,” says Sadler .
More importantly , customers of new-gen finserve technologies require education on identity verification and integrated security in fintech . Therefore , instead of solely focusing on making the best technology , there must be an equal amount of focus on keeping the technologies accessible to the customer base across the globe .
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