preprints.org > computer science and mathematics > computer science > doi: 10.20944/preprints202401.2194.v1

Preprint Review Version 1 Preserved in Portico This version is not peer-reviewed

Version 1 : Received: 31 January 2024 / Approved: 31 January 2024 / Online: 31 January 2024 (09:43:05 CET)
Version 2 : Received: 11 April 2024 / Approved: 11 April 2024 / Online: 11 April 2024 (10:40:33 CEST)

With the fintech industry growing at an unprecedented rate, it is critical to protect cybersecurity and ensure data privacy. The research presented here offers a thorough examination of the challenges faced by financial technology companies, highlighting the growing risks posed by malware, phishing, and network vulnerabilities. As essential components of a proactive defense plan, the report promotes strong cybersecurity measures like frequent security assessments, encryption, and stringent access controls. The findings highlight how important it is for fintech companies to give cybersecurity equal importance with open and honest data privacy policies in order to win over customers. In order to protect the industry from cybersecurity risks regulatory compliance, intrusion detection systems, and collaborative information sharing are considered essential components. The article advises businesses to include cybersecurity and data privacy into their core business operations and customer relations, highlighting the critical role these factors play in sustaining success in the rapidly evolving fintech industry.

Fintech; Cybersecurity; Data Privacy; Information Security; Regulatory Compliance

Computer Science and Mathematics, Computer Science

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