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Fortinet and NU Preach The Importance Of Cyber Security In FinTech

All aboard the FinTech hype train. The destination, the ultimate ease of processes in the financial space with the help of tech. One obstacle though- Cyber security.

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Fortinet and NU Preach The Importance Of Cyber Security In FinTech

Simply defined, FinTech is the application of technology and innovation to solve the needs of consumers and firms in the financial space — think credit cards, online banking, and blockchain-powered cryptocurrencies.Fintech has disrupted all aspects of the industry—banking and capital markets, asset and wealth management, insurance, and funds transfer and payments.

The rise of fintech has forever changed the way companies do business. The traditional model of a new business turning directly to its local high street bank and/or a conventional investor is no longer the only game in town. In a recent article by Harvard Business Review, Kenya has been pipped to becoming a global hub for FinTech innovation.

While Kenya soars in the world of FinTech, there is this one particular “back door” that remains a constant reminder, if that door is breached, which it easily can, then Kenya’s FinTech space will come crashing down like a bird with clipped wings. The “back door” is cyber security.

When the pandemic struck, online bad actors took it as an opportunity to double-down on their attacks through ransomware, malware, and social engineering. Newly remote workers and remotely connected workplaces had to adapt rapidly to a greater digital threat as well as a public health crisis.

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Now, cybersecurity may just be the most important aspect of FinTech in the modern world. With 2020 being the worst year on record in terms of files exposed in data breaches, a thorough security approach is necessary to combat modern dangers. A thorough security approach will need to seal up any breaches to data in an increasingly vulnerable digital world.

Fortinet and Networks Unlimited are more than equipped to not only seal, but completely patch up digital vulnerabilities. Considering the dizzying number of cyber-attacks mentioned previously, you can see the importance of employing active cybersecurity measures such as the ones Fortinet can deploy. Fortinet’s security fabric can deliver broad, integrated and automated protection everywhere you may need it.

As for Networks Unlimited, they can create and set up your all aspects of your systems with an ability to adapt. This is paired with an extensive expertise and participation with their Vendors and Partners across all aspects of the sales process giving them a clear competitive edge.

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