January 28, 2016
Cybersecurity is one of the most relevant and sensitive topics across FinTech sectors. Recent stories of data breaches across industries that have occurred with major players have left a bad aftertaste and made users extra cautious about sharing personal information. If previously we used to automatically hit the Accept button with long lines of data points we give access to, now is the time to take an extra minute to actually read what you are giving away.
The most sensitive and important data users are especially cautious giving away is financial data. Credit/debit card information, alternative payment options—our mobile phones have become payment tokens themselves. Endless opportunities are in hands of savvy cybercriminals if they just have our smartphones for a couple of minutes.
Cybersecurity, hence, has become one of the areas where heavy investments are made and no number of dollars will be too high in comparison to the possible outcome of damage.
The European financial industry has already realized the potential of the threat and in December last year, the Internet Co ...