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Cybersecurity: the IT challenges facing online financial services

Among the thematic areas covered by SeguridadExpo 2025 is cybersecurity, a latent challenge for organisations operating on the internet and in the digital era.

Publicada: Monday 3 de February del 2025
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Technological innovation applied to online financial services, also known as fintech (a term derived from the combination of the words ‘Finance’ and ‘Technology’), refers to activities that link technological development with the supply and provision of financial products and services. However, this expansion has not been without risk. Fintechs are a frequent target of cyber-attacks due to the large amount of sensitive data they handle, making them an attractive target for cybercriminals. Against this backdrop, it is vital that fintech companies adopt effective cybersecurity measures to protect their information and that of their customers. The most common threats faced by these companies include phishing attacks, application vulnerabilities and bugs in application programming interfaces (APIs). These attacks can have consequences such as data theft or service disruption. As the sector grows and becomes more widespread, the need for a robust security infrastructure becomes increasingly urgent. Fintech companies, especially start-ups, often lack robust cybersecurity policies at their inception. This can lead to a more flexible approach to product development, but also to insufficient protection against threats. It is therefore essential that they implement preventive measures from the outset by ensuring an adequate security infrastructure. Recommended strategies to improve cyber security include the use of firewalls, intrusion detection systems and data encryption. These tools are essential to protect fintech systems from malicious attacks. In addition, conducting regular security audits helps to identify vulnerabilities and strengthen system defences before attacks materialise. Ongoing staff cybersecurity training also plays a key role in preventing attacks. Employees must be sensitised and trained to recognise and avoid potential threats, thereby reducing the risks that could be exploited by attackers. Finally, fintechs should adopt advanced technologies to detect anomalous patterns and effectively prevent cyber-attacks. In addition, partnering with reputable financial institutions and complying with higher security standards is crucial to ensure data protection and strengthen customer trust. SeguridadExpo 2025 will address these and many other security topics from 1-3 October at Metropolitan Santiago.

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Security with more than 25 years of experience
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