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7 Biggest Security Mistakes in FinTech That Can Easily Be Avoided

It’s not just the giants that face cyber-crime. Everyone is familiar with the recent hacks into J.P. Morgan, Target, the US IRS, and Defense Departments. What is not so publicized, is the smaller organizations that get hacked on a regular basis – medical practices, small retailers, and even local and regional FinTech companies

Criminals are looking for anything from bank card numbers, to customer personal information data, and even – in the case of JP Morgan – emails.

Startups are particularly vulnerable, because security measures may not yet be fully baked when companies open their doors for business.

Yet, this should never be the case with a FinTech startup – the consequences of falling victim to cybercrime include total loss of trust on the part of customers/consumers, loss of business to the point of failure, and legal and financial consequences from which it will never recover. The highest level of FinTech cybersecurity must be in place before the doors open.

While FinTech founders are savvy in many financial sectors, most do not have the expertise in how to build a perfectly secure FinTech application. This post should offer you the essential insights and c ...

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