Advanced Threat Detection and Mitigation in FinTech Applications
Ajay Benadict Antony Raju · International Journal For Multidisciplinary Research · 2024
Fintech has made finance a comedically convenient, fast and ever-revolving sector because it continues to expand every day as it is being developed. This has opened the flood gates of expected evolved cyber threats in the factors of malware, phishing, inside threats as well as APTs targeting FinTech application for the purpose of violating the security of financial data and transactions. The paper also includes threats that are of high importance to FinTech applications and their detection and countermeasure techniques which are AI, ML and blockchain. For which the formation of the multi-layered security frameworks, the utilization of the different algorithms for anomaly detection, as well as the development of the effective automated response systems becomes the fundamental requisite to enhance the overall resilience of the FinTech platforms. Identity theft flow FinTech Best practices What the paper will do Essentially, the main purpose of this paper is to describe an overall picture of what threats FinTech companies are up against and how one can safeguard digital assets. Such findings indicate that it is high time to shift from a more protective strategy that can readily align itself with the new threat and compliance environment in the FinTech sector.