Valletta.Software: We Do Care’s Post

This year, we saved assets with a net value of ~$150m for a young fintech startup in the UK. They were wise in trusting the defense of their mobile app to professionals. One may compare the peanut cost of a proper security audit with the risk of losing literally everything. Check the link for further information. #MobileSecurity #OWASP #Fintech #Banking #Ecommerce

Security Considerations in Open Banking and APIs. Open banking and APIs bring immense potential, but also necessitate robust security measures. Financial institutions leveraging open banking APIs must prioritize data security and implement strong authentication protocols to protect sensitive customer information. Collaboration between banks, third-party developers, and regulators is crucial to establish secure open banking frameworks that mitigate cybersecurity risks and ensure consumer trust. #Cybersecurity #OpenBankingSecurity

Security Considerations in Open Banking and APIs. Open banking and APIs bring immense potential, but also necessitate robust security measures. Financial institutions leveraging open banking APIs must prioritize data security and implement strong authentication protocols to protect sensitive customer information. Collaboration between banks, third-party developers, and regulators is crucial to establish secure open banking frameworks that mitigate cybersecurity risks and ensure consumer trust. #Cybersecurity #OpenBankingSecurity

From online banking, personal finance management and mobile banking… our banks are never more than a fingerprint or face scan away. While the growth of the fintech sector has boosted universal accessibility of financial products, its growth has made it a prime target for cyberattacks. Ian Stacey, Group Head of Information Security at leading financial services firm Novuna shares with The European Financial Review how the company is taking a proactive approach to elevate the human element, à la multi-factor authentication and detective controls. Find out how Splunk is working with Novuna to consolidate threat intelligence and analytics to supercharge resilience within fintech: [🔗 https://splk.it/3XycDVE] #Cybersecurity #SplunkSecurity

🔍 Navigating the New Open Banking Landscape: The Impact of CFPB Rule Changes The CFPB's recent rule changes have introduced a new challenge for the banking sector - ensuring compliance with updated API standards as part of the open banking framework. As financial institutions and fintech companies adapt to these changes, maintaining robust cybersecurity practices and seamless API integration are critical for success. In this evolving financial ecosystem, how can organizations best prepare to meet these compliance requirements while continuing to innovate and deliver exceptional customer experiences? Read the full article to explore the implications of these changes and the strategies for overcoming them. 🔗 [Read More Here](https://lnkd.in/gzgRMjQw) #OpenBanking #APIs #Fintech #Compliance #Cybersecurity #CFPB #FinancialServices #Innovation #BankingIndustry Listen To a Detailed Summary Here: https://lnkd.in/gDSJAqzH

As I look into how banking platforms are changing, I realize some of the risks they impose. One big risk is with BaaS, where banks share their services through APIs. These APIs can be vulnerable to attacks. Banks and fintech companies need to make sure these platforms are secure- they need to find a balance between being innovative and maintaining safety. This means focusing on cybersecurity and making sure these systems can handle any problems that come up. Ensuring top-notch security might sound like an uphill task, but it's crucial for consumers and their financial security. #API #baas #banking

𝐇𝐨𝐰 𝐭𝐨 𝐎𝐯𝐞𝐫𝐜𝐨𝐦𝐞 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 𝐈𝐬𝐬𝐮𝐞𝐬 𝐢𝐧 𝐌𝐨𝐛𝐢𝐥𝐞 𝐁𝐚𝐧𝐤𝐢𝐧𝐠? 📱🔒 In today's digital era, mobile banking is incredibly convenient but comes with its own set of security challenges.🌐💡 Discover effective strategies to protect your financial data and ensure secure transactions in our latest blog!🛡️📊 #mobilebanking #cybersecurity #fintech #dataprotection #securebanking #techtrends #bankingsecurity #techblog #appdevelopment #mobilebankingsecurity

Innovation in Digital Banking: Strengthening Security Measures 🔒Digital banking has transformed how we manage our finances, but it’s crucial to ensure that innovation goes hand-in-hand with security.Here are some cutting-edge security measures being implemented: Behavioral Biometrics: Identifying users based on their unique behavior patterns like typing speed or the way they hold their phone.AI-Powered Fraud Detection: Machine learning models that get smarter over time, detecting and preventing fraud more effectively. Tokenization: Replacing sensitive information with unique tokens that are useless if stolen.What other security measures would you like to see in digital banking? Share your thoughts!#DigitalTransformation #BankingInnovation #CyberSecurity #FraudPrevention

The digital finance landscape has transformed how we manage money. Online banking, contactless payments, and fintech apps offer convenience, but they also create new security challenges. Surfshark, known for its VPN service, now offers a comprehensive cybersecurity package designed to protect users' financial activities. Find out more below! #VPN #Cybersecurity #DigitalFinance

🚨Urgent Need for Robust Security in Mobile Fintech🚨 Recent security incidents highlight the increasing vulnerability of mobile fintech systems and the pressing need for advanced security solutions like HyperRing. - Mobile banking fraud surged from 47% in 2022 to 61% in 2023, with over 1 million cases of fraudulent account openings. - Large data breaches, like Apple's 2.6 billion compromised records, emphasize the need for scalable security. - Costly incidents, like Google's $350 million settlement, underscore the high economic impact of insufficient security. The evolving threats require proactive investment in comprehensive security frameworks. HyperRing offers a tailored approach to safeguard digital ecosystems and foster trust in mobile finance, which introduces varying levels of protection corresponding to the value of the transactions. Stay tuned for more details on the HyperRing mobile fintech solution. #HyperRing #MobileFintech #Cybersecurity