In the world of technology, there is nothing that remains untouched of the technology and the emerging trend in technology has no ends. When every sector is upgrading with the help of technology, the Financial world is not exceptional. Financial services are using technology to make changes in the traditional way of banking, investment, finance, payment methods, and insurance.
What is FinTech App?
FinTech is a combination of Financial Technology. Financial technology or Fintech describes the new technology that financial services are using to improve and automate the delivery of their financial services. Many financial services are using the app to deliver their services right to their customer that technology is called a Fintech app.
Reason to make Fintech App Secure
For many years, we all have trust in the financial services of our country because they have a trustful impact on the people and their money, property papers, ornaments, and many other documents. But nowadays, financial organizations are giving their services digitally, fast, and just one click away to reduce the human effort. But there is a high risk of cyber attacks and phishing that why it is becoming necessary to make a secure Fintech app.
Ways to build a secure Fintech App
As per the security report, every 98 out of 100 dignified fintech apps are confronting the phishing and cyber-attacks. To overcome these attacks there are some ways for the finTech apps that make these apps more secure for the users.
For making any app secure it is very important to have a strong infrastructure of the app. Therefore it is imperative for the developers to design a fintech app that has a robust infrastructure. If the app is going to run on a public cloud platform, choose a trustworthy and established cloud where your data will be safe.
Build a secure code
The initial stage of developing a secure app should be mandatory. The term secure means to secure the important data that is stored in the cloud or in the users’ device. And here the secure code plays an important role as it helps to create a secure environment in the app for the users. Therefore it is worthy to write secure code for the app and try not to leave any loop that can cause data leakage.
Maintain daily workflow
When it is about security, it is important to maintain the regular workflow for a record. As per Kaspersky, “ more than half of the security breaches are caused by the human’. So here are some points you can do
- Regular backups of codes, data, files, and security attempts.
- Learn the ways how to handle the emergency situation
- Prevent data breaches
- Obtain ISO 27001 certification for high standard security.
- Use corporate hardware within the app development infrastructure.
Web server is the current target for the external attacks. Web visitors often change their signs from the unprotected HTTPS SSL certificate so the external attacker can easily get the valuable data from the malicious source. VPN is another source of the attack that introduces the setup to grant access to any device using the public key. So the webserver security is the worth step to block the attack efforts.
Payment Blocking System
This method helps to identify the dubious and suspicious activity of the user is helps to understand the normal function of the users. Developers should use the AI and ML in the fintech app, so the app can detect the abnormal user’s behavior like sending the lump sum amount to the unknown location. For this Fintech app should have a payment blocking system to prevent the user from such attacks. This feature will make sure to block the payment promptly and notify the user.
Use Encryption Technology
When we talk about financial services, data protection is a hot and crucial topic. Prevent data from hacking or leakage is very important for the product and the business reputation. For preventing the data from leakage the one technique can be beneficial that is encryption technology. Make sure to develop a better data encryption key while keeping the security in mind.
Hire the Right Team
For developing a secure fintech app it is very important to give it a professional and experienced touch from an experienced development team and employing them will make sure your app is secure from the development phase. Thanks to all the hardworking and rocking developers who make plausible to develop a highly secured fintech app. So if you are looking for the app development company to build a highly secured fintech app for your company, feel free to contact India’s leading and dignified fintech app development company and leave all the issues of app security on us.
Till then, stay safe, stay at home, wash your hands, and be happy
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