Cybercriminals continually advance their attack techniques, posing a constant threat to fintech systems.
Compliance with complex regulatory requirements is another challenge, especially when operating across multiple jurisdictions.
Third-party risks, such as vulnerabilities in partner systems, scalability while maintaining security & the balance between user experience & robust security measures further compound the challenges.
Overcoming these challenges requires a holistic approach involving advanced technologies, robust policies, ongoing employee education & proactive risk management.
To ensure the security & resilience of fintech enterprises, it is essential to stay ahead of evolving cyber threats. Compliance with regulations across different jurisdictions presents a challenge, as does managing risks associated with Third-party partnerships.
Balancing scalability & agility while maintaining strong security measures is crucial. Neumetric, a cybersecurity services and products company, can help Fintech organisations become secure by implementing the tools and technologies required to make it compliant with various cybersecurity standards and regulations.
Extensive experience in providing solutions for your Cybersecurity, Compliance, Governance, Risk & Privacy objectives!
Ensuring a robust Security Posture & Regulatory Compliance across various Frameworks & diverse Industries.
Implementing & monitoring extensive Control Frameworks tailored to your business needs…
Adopting ISO 27001 gives the fintech sector a competitive edge and fosters confidence with partners, stakeholders and clients. A methodical approach to handling sensitive information, risk assessment and the deployment of suitable security controls are key elements of ISO 27001 for fintech organisations. ISO 27001 provides a framework to reduce the risks associated with cyber threats and data breaches.
Become ISO 27001 Certified >
Compliance with PCI DSS standards helps fintech companies establish robust security controls for handling payment card data, reducing the risk of data breaches and fraudulent activities. By implementing PCI DSS requirements, such as secure network architectures, strong access controls, encryption and regular security assessments, fintech organisations can effectively protect cardholder data and build a secure payment environment.
Become PCI DSS Certified >
EU GDPR ensures the protection of users’ sensitive and personal data, promoting trust and confidentiality. GDPR compliance encourages transparency and accountability, requiring fintech providers to inform users about their data processing activities and obtain their consent. This empowers users by giving them more control over their personal information and enhances their overall privacy rights.
Become EU GDPR Compliant >
As a provider of cyber security products and services, Neumetric helps organisations improve their information security and establish a safe environment for their activities.
We will review your current policies, procedures, and system architecture to ensure that they are compliant with the requirements of the Standard or Regulation you choose.
We will train your team on how to manage a compliant infrastructure and comply with all audit requirements during audits by external parties such as customers or regulators.
We will create and update policies and Procedures that are not yet implemented in your Organisation to ensure that they are compliant with the requirements of Standard or Regulation you choose.
We conduct an annual Risk Assessment to determine the current state of your IT infrastructure and recommend improvements to it. We will conduct a gap analysis between the existing policies, procedures, and system architecture with the requirements of Standard or Regulation you choose.
Cybersecurity in fintech refers to the measures & practices implemented to protect the integrity, confidentiality & availability of digital systems, networks & data within the financial technology industry. It involves safeguarding sensitive financial data, securing online transactions, mitigating cyber threats & ensuring compliance with industry-specific regulations & standards.
Cybersecurity plays a pivotal role in finance by protecting financial institutions, transactions & data from cyber threats. It helps prevent unauthorised access, data breaches, fraud & other malicious activities that could lead to financial losses, reputational damage & regulatory non-compliance. Robust cybersecurity measures in finance include securing banking systems, networks, payment gateways & customer information, as well as implementing risk assessment frameworks, incident response plans & employee training programs.
Cybersecurity is of paramount importance in fintech due to several reasons. First, fintech companies handle vast amounts of sensitive financial data, including personal information & payment details. Protecting this data from cybercriminals is crucial to prevent fraud, identity theft & financial losses. Second, regulatory compliance is a critical aspect of the fintech industry & effective cybersecurity measures are necessary to meet legal & industry-specific requirements. Third, cybersecurity ensures the continuity of financial services by mitigating risks & preventing disruptions caused by cyber threats. Finally, cybersecurity builds trust among customers, investors & partners, who rely on the industry to safeguard their financial information & transactions.
Fintech cybersecurity faces various risks, including:
Addressing these risks requires a comprehensive cybersecurity strategy encompassing strong technical safeguards, regular security assessments, user education, incident response plans & a proactive approach to risk management.
