FinTech

How safe is your data?

19 March 2018 | Deshaun Hancock | , , ,

You may have heard the term ‘FinTech’ flying around, but what actually is it? Financial Technologies, also known as FinTech, are computer programs and other technologies used to support or enable banking and financial services [1]. The Finance Global Summit, held in London, provides a space for innovators, institutions, investors, regulators, policymakers and startups to come together and discuss the progress and direction of financial technology. 

These advancements in technology have revolutionised how we conduct our financial activities. For a lot of us, one of the main benefits it offers is convenience. From logging into the banking app on your phone to send that £10 you owe a friend, to tapping your card at the checkout to save the effort of putting your pin in. Some argue that we have become too reliant on technology and, in turn, lazy whilst others celebrate these forward thinking procedures.

Now, here’s the big question… within all these new changes, how safe is your personal data? Are you conscious of all the websites and databases that hold your personal information? Whilst financial technology has disrupted traditional methods of banking and made these services more accessible to a wider range of people, it has also made our personal information more exposed to the risk of being compromised.

Walkgrove offers a variety of comprehensive courses covering financial compliance and data related subjects, including identity theft. For more information please get in touch.

 

 [1] https://en.oxforddictionaries.com/definition/fintech