Fintech peer to peer landing is one of the most growing business in nowdays. Fintech has been changing the patern of traditional bank transaction from digital transaction in to more flexible financial transaction.With this benefit, fintech also raised more security issue to the sensitive information, such us data privacy.
As more services go online, data ubiquity, and consequently data security, are proving to be a major challenge for fintech.
So what should fintech companies do to best protect themselves and their customers. Certainly they must implement the best practice information security management system standard such us ISO 27001 as a minimum requirement.
This is as preventive action on anticipating things that could go wrong and then putting in place robust, effective measures to prevent, or at least greatly mitigate them from having serious problems in the areas of cybersecurity, data security, and privacy protections.
Security in all of its aspects has to be the top priority within the fintech community in order to properly safeguard institutional and consumer data. In addition, every fintech company, no matter its size, has a solemn responsibility to do what’s needed to protect the overall financial services industry infrastructure, especially because many financial transactions take place across an interconnected global data communications enterprise, which increases overall vulnerability