Data security challenges and countermeasures in financial technology

Abstract

While financial technology brings opportunities to the financial industry, it also brings new challenges. With the rapid development of financial technology, the big data explosion caused by the digitalization, networking and intelligence of financial services has put forward new and greater requirements for data security governance. Based on the analysis of the status quo of financial technology development and financial data security, a financial data security “shell” model for the characteristics of financial data was proposed: the internal is the security goals of ensuring data confidentiality, integrity, and availability; the external is a variety of threats including data leaking, tampering and destroying etc; the middle is various coping strategies, including access strategies, prevention and control strategies, detection strategies, perceived strategies and etc. According to this model, relevant suggestions and countermeasures for data security governance in financial technology are proposed.

Keywords

• financial technology
• big data
• data security
• data governance
• security model