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How to Build a Perfectly Secure Fintech Application

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Nataliia Bubniuk
How to Build a Perfectly Secure Fintech Application

While financial services technology is certainly disrupting traditional banks, investment firms, and even insurance companies, there is something that traditional institutions have more capacity in than fintech companies – trust.

People have always trusted that their money, valuables, and their information are safe within a brick and mortar bank. Translating that to a fully digital operation is a big leap.

Nothing will kill a fintech initiative faster than a security breach. Already, there are examples of fintech and fintech-related startups that have exploded because of cyber attacks or failures in compliance. And, the interesting thing about these cyber-attacks is that they have not been highly sophisticated – they have occurred through social engineering (psychological manipulation of people for secure information) or by exploiting some basic security weakness.

Security in fintech has to be a top priority. And if you are considering the development of a fintech application, you have to bump this up to the top.

Getting that security and trust will involve understanding the fundamentals of security as you develop a fintech startup or app, mitigating the risks, and then demonstrating your successful security as a business asset.

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Nataliia Bubniuk
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