Affiliation:
1. Universiti Teknologi Malaysia, Malaysia
2. King Fahd University of Petroleum and Minerals, Saudi Arabia
Abstract
The rise of financial technology (fintech) has revolutionized the landscape of financial services, offering innovative solutions that streamline transactions, enhance accessibility, and transform traditional banking processes. However, amidst the rapid expansion of fintech, the issue of data security emerges as a paramount concern. This chapter explores the disruptive impact of fintech on traditional financial systems and the profound implications for data security in the digital age. By analyzing the technological advancements driving fintech innovation and the evolving regulatory landscape, this chapter examines the challenges and opportunities in safeguarding sensitive financial data. This chapter also identifies key vulnerabilities and threats to data security within fintech ecosystems and proposes strategic approaches to mitigate risks and strengthen cybersecurity measures. In sum, this chapter contributes to the ongoing dialogue surrounding the intersection of financial innovation, technology, and cybersecurity in the contemporary digital economy.