Cybersecurity in Fintech

Fintech companies operate in a volatile cyber environment where threats are evolving faster than regulations can keep pace. 78% of financial institutions were affected by a cyberattack last year, with ransomware and fraud among the top threats, Bridewell reports. What’s at stake? Compromised customer data, financial losses and legal penalties.

• Infrastructure vulnerability scans. Rigorous assessment of fintech APIs, cloud ecosystems and transaction networks to identify exploitable vulnerabilities and ensure operational resilience.
• Ensuring regulatory compliance. Holistic alignment with PCI DSS, GDPR, PSD2 and evolving financial regulations to minimize regulatory risks and financial penalties.
• Advanced Vulnerability Assessment. Using AI and fintech cybersecurity, we conduct thorough scans, augmented by heuristic algorithms, to identify zero-day threats and systemic vulnerabilities to ensure your financial systems are protected from evolving attack vectors.
• Risk stratification and prioritization. Detailed risk matrices that classify threats based on potential financial impact, enabling precise allocation of resources to mitigate risk.
• Strategic Security Framework. Customized security roadmaps with immediate actions and long-term reinforcements tailored to fintech operating models.

In the financial industry, the margin for error is razor thin. Partner with Devox to protect your digital assets and maintain investor confidence.

Ensuring cryptographic integrity is not an option in the financial industry, but a regulatory and business imperative. 92% of financial organizations cite data encryption as their top cybersecurity priority, yet misconfigurations leave critical data unprotected. according to Ponemon Institute. Without robust encryption, sensitive transactions, personal data and financial assets remain vulnerable.

• Comprehensive end-to-end encryption. Military-grade encryption algorithms that protect data in transit and at rest and ensure confidentiality.
• Dynamic tokenization systems. Real-time tokenization to conceal sensitive data during transaction and minimize vulnerability to security breaches.
• Enterprise-level key management. Manage the lifecycle of cryptographic keys with automatic rotation, memory hardening and access control.
• Immutable encrypted backups. Regular backups with multi-layered encryption that ensures data recoverability in breach scenarios.
• Granular access controls. Robust role-based access with adaptive multi-factor authentication for granular data access control.

Devox ensures your data remains an asset, not a liability – securing trust with every transaction.

Cloud adoption in the financial industry requires stronger protections, not just scalability. Gartner reports that 75% of cloud security breaches are due to inadequate identity and access management.

Our cloud security solutions protect digital financial transactions from emerging threats.

• Cloud infrastructure penetration testing. Simulated adversarial testing to uncover misconfigurations and hidden vulnerabilities.
• Proactive data loss prevention systems. Automated enforcement of data handling policies to prevent unauthorized disclosure.
• Federated identity management. Centralized authentication and authorization mechanisms across multi-cloud infrastructures.
• Unified cloud security policies. Cross-platform security enforcement for AWS, Azure, GCP and hybrid clouds.
• Fail-safe disaster recovery protocols. Automated encrypted backups with fast recovery to minimize financial downtime.

Cloud breaches disrupt operations and trust. With the rise of fintech cybersecurity threats, protecting your cloud environment is more critical than ever. Strengthen your fintech cloud with Devox’s expertly engineered solutions.

Fintech applications are the gateways to critical financial operations, but they are also prime targets for cybercriminals. 67% of financial services organizations have experienced a cyberattack on their applications in the last year. (Federal Bureau of Investigation) Without a security-focused approach, financial platforms become gateways for fraud, data theft and service disruption.

Our secure development lifecycle protects them from dynamic threats.

• Static and dynamic code analysis. Automated and manual code reviews to eliminate security vulnerabilities at the source.
• Runtime protection mechanisms. Continuous monitoring of the application runtime environment to detect and neutralize threats.
• API security hardening. In-depth API analysis to mitigate unauthorized access, injection attacks and data exfiltration.
• DevSecOps integration. Seamless embedding of security protocols into CI/CD pipelines for secure, agile releases.
• Comprehensive security test suites. Automated penetration testing, fuzzing and patching of security vulnerabilities at every stage.

A security vulnerability in an application can cost millions. Trust Devox to develop and secure with precision.

The regulatory landscape in fintech is rapidly evolving. The regulatory landscape in fintech is more complex than ever, and non-compliance is not an option. In the last five years, financial institutions have been fined over $5 billion for cybersecurity and compliance failures, according to Reuters.

As fintech and cybersecurity become increasingly intertwined, our compliance services ensure adherence to regulations while optimizing operational efficiency, reducing risk, and enhancing trust in financial operations.

• Regulatory compliance audits. Rigorous assessments to ensure fintech processes meet global financial standards.
• Security policy architecture. Customized security policy development aligned with regulatory and operational requirements.
• Continuous compliance automation. Real-time monitoring and automated reporting to maintain audit readiness.
• Specialized training for employees. Up-to-date training on regulatory changes to ensure corporate compliance.
• Adaptive regulatory intelligence. Proactive updates and implementation of new compliance measures.

Risks of non-compliance are financial time bombs. Defuse them with Devox.

Digital identities in the financial industry are high-value targets, and attackers know it. Identity breaches account for 79% of all cybersecurity incidents in financial services, according to IBM. Weak authentication, stolen credentials and identity fraud put customer trust — and financial assets — at risk.

Digital identities in financial technology are high-value targets. Our solutions ensure their uncompromising security.

• Multi-layered biometric verification. Sophisticated biometric systems for multi-layered identity verification.
• Context-aware MFA. Adaptive multi-factor authentication based on context-aware risk analysis.
• Single sign-on ecosystems. Secure, frictionless access to integrated financial systems.
• Robust identity proofing systems. Identity verification frameworks that meet stringent financial standards.
• Access lifecycle management. Automated provisioning, deprovisioning and access verification.

Compromised identities lead to compromised processes. Protect them with Devox.