Data Defense: Examining Fintech’s Security and Privacy Strategies

This article aims to investigate the problem of security and privacy in the fintech business, since the use of digital technologies has increased in last few years. In this context, we conducted a survey of fintech companies to understand how they are addressing the security and privacy issue and what are the potential risks and benefits for consumers. According to the results, fintech companies are exploiting a range of technical, regulatory, and compliance measures to ensure the security and privacy of financial data, such as encryption, access controls, and data governance policies. However, we attempted to pinpoint open issues as well as prospective research directions. In such settings, there is a need to better understand the efficiency of different privacy and security measures, as well as the potential risks and advantages for customers while they are using fintech services. This article recommends that future research broaden its scope and delve further into the security and privacy issues of specific types of fintech services.