As technology scales new heights, mitigating fraud risk will be key for fintechs to sustain growth
Digital disruption is defining the financial services industry today. Financial technology (FinTech) companies are truly pushing the envelope and driving innovation, challenging traditional financial services firms to rethink their business models and growth markets. However, FinTech companies will do well to learn a thing or two about mitigating fraud risk from their traditional counterparts.
Banking, insurance and investment management firms are risk-based businesses where good decision-making can rapidly drive returns. The security of FinTech companies can be compromised if they do not have strong measures in place.