Version 1
: Received: 22 September 2024 / Approved: 23 September 2024 / Online: 23 September 2024 (12:29:42 CEST)
How to cite:
Tiwari, S. Regulation Cybersecurity in Financial Technology: Insight into Challenges, Compliance, and Best Practices. Preprints2024, 2024091761. https://doi.org/10.20944/preprints202409.1761.v1
Tiwari, S. Regulation Cybersecurity in Financial Technology: Insight into Challenges, Compliance, and Best Practices. Preprints 2024, 2024091761. https://doi.org/10.20944/preprints202409.1761.v1
Tiwari, S. Regulation Cybersecurity in Financial Technology: Insight into Challenges, Compliance, and Best Practices. Preprints2024, 2024091761. https://doi.org/10.20944/preprints202409.1761.v1
APA Style
Tiwari, S. (2024). Regulation Cybersecurity in Financial Technology: Insight into Challenges, Compliance, and Best Practices. Preprints. https://doi.org/10.20944/preprints202409.1761.v1
Chicago/Turabian Style
Tiwari, S. 2024 "Regulation Cybersecurity in Financial Technology: Insight into Challenges, Compliance, and Best Practices" Preprints. https://doi.org/10.20944/preprints202409.1761.v1
Abstract
While the financial technology (FinTech) sector has revolutionized conventional banking services with technology-driven solutions, it also faces considerable cybersecurity hurdles to guard against data protection and sustain the overall financial performance. The main purpose of this paper is to identify the key cybersecurity challenges encountered by FinTech companies, such as data confidentiality concerns, complex cyber-attacks, difficulties with regulatory compliance and third-party risks or technological innovations. This also assesses the regulatory responses to those challenges, such as data privacy regulations, macroprudential regimes, industry-specific guidance and international regulatory cooperation. Through this analysis, the paper attempts to synthesize current state of cybersecurity domain within FinTech and provides suggestions for strengthening data shelter and financial stability by implementing best practices with regulatory strategies.
Keywords
FinTech Security; Cybersecurity Challenges; Regulatory Compliance; Data Protection; Financial Stability; Cyber Threats; Regulatory Frameworks; Data Breaches
Subject
Business, Economics and Management, Finance
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
