Data protection on fintech platforms

Abstract

The security of data has been challenged by the incorporation of new services into the digital world. Data protection has become essential to continue operating in the new financial environment, especially due to the advent of Financial Technology (Fintech). This article reviews how data protection is applied to financial recommendation platforms identifying current trends in this area. Moreover, it looks at the evolution of computer security in the field of Fintech due to the security level that it requires. In addition, it examines the solution techniques for data storage issues in cloud security and encryption methods that assure data protection. Also, the European Union’s data protection regulation is considered; it not only affects the entities based in the European territory but also those that are outside of it but manage the data of European citizens.