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Why should security professionals pay attention to the rise of fintech?

Nayela Deeba | May 22, 2017
Chia Hock Lai, President, Singapore Fintech Association, highlights the areas in fintech that have critical implications on cybersecurity, at the Computerworld Singapore Security Summit 2017.

Blockchain is usually said to be able to improve the security of data sharing. However, it also requires careful attention to issues such as where and how private keys are stored and used, mechanisms for establishing and modifying how distributed systems obtain consensus as well, as how to recover potential losses if hit by cyberattacks.  

To prevent these attacks from taking place, Chia advised financial services institutions to consider security at the early stage, look at deploying predictive security tools, and keep up with latest technology used in the financial domain.

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Other stories from the Computerworld Security Summit Series 2017:

 

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