Similar to various other sectors, the FinTech industry has wholeheartedly embraced the era of digital transformation, leveraging the power of the IoT to streamline financial services, enhance efficiency, and reduce operational costs. This transformation spans a wide spectrum, encompassing online banking systems, digital payment platforms, and blockchain-based innovations.

Yet, the integration of FinTech technology into the digital landscape has also exposed it to the ever-growing landscape of cyber threats. State-sponsored cybercrimes are increasingly targeting FinTech infrastructure, potentially disrupting the financial sector’s core services and causing repercussions for the broader economy.

These vulnerabilities extend across various industries and individuals who rely on FinTech solutions for their financial transactions. Alarmingly, a significant portion of these systems may lack the robust security measures needed to withstand the evolving cyber threats once they are connected to the internet. Tackling these cybersecurity challenges head-on becomes imperative to safeguard the resilience and security of FinTech technology in our digitally interconnected world