Adoption of FinTech APIs, cloud computing, and growth of the digital economy is also increasing cyber threat - there is a demand for new technology to tackle KYC, AML and fraud issues for payments and capital markets transactions. Blockchain technology provides demonstrated encryption that goes beyond traditional 'defensive' cyber security that semantic analysis and AI provides. How else will the security of financial systems be transformed by Blockchain technology?
Cyber Security: Is Blockchain the Answer?
Cyber security has long been a serious matter for financial institutions and corporates alike, but fintech and the digital era make cyber security more of an issue. Delivery of products and services through digital channels means that more systems are available to scrutiny by malefactors.