In: Accounting
Write a short report (about 1,500 words) discussing the major risks facing Finance graduates as a result of the current development in Fintech.
Major Risks are:
Cyber security
1. Fending off cyber-attacks in one of the greatest challenges faced by businesses and governments around the world, and given the sensitive nature of the client data they hold, they’re a serious concern for Fintech firms.
2. This method helps to frustrate attacks by continually shifting the points of attack and robbing hackers of the static targets they’re familiar with breaching.
3. To this end it may be time to consider deploying dynamic security solutions such as a ‘Moving Target Defence.
Retaining the human touch
1. Fintech is defined by its ability to disrupt the financial sector and upset the status quo, but this may not always be for the better.
2. This can leave many Fintech start-ups struggling to persuade clients, particularly older clients, to abandon their traditional banks
3. For starters, keeping your customers’ needs and experience at the heart of every new technology you adopt should be paramount. The aim of the game is always to make things easier for the consumer and to offer them a level of service and support they wouldn’t get elsewhere.