The following article is a continuation of “3 Ways Fintech Startups Can Maintain Cyber Security” Please look to that article for additional pertinent information.
Cyber attacks are so common in this day and age that preventing them is a key part of being a Fintech professional. Follow these tips and you’ll be able to make sure your company’s data is as secure as possible.
1) Encrypt your data
There’s no way of knowing for sure that your product is secure. That’s why it’s important to encrypt your data. While many say that encryption will make your app slower, but there are ways to get around it. Just look at some of the giants in the tech industry. Facebook runs encryption on separate services so as not to compare the speed and the ease-of-access. It is not enough to have an SSL or a HTTPS.
2) Know which bugs to look out for
Even when you use the best code review tools, you are not guaranteed to find all of the bugs in your code. One way to make things easier is to identify which bugs could cause the most damage. While you should definitely invest in code review, it also helps to identify and address the particular bugs that could be harmful to your company.
3) Run a penetration test after each major change
One of the most important safety assurance activities is penetration testing, a process that is unfortunately often misused. It should not be a replacement for any of the other steps. A “clean” penetration test report doesn’t necessarily indicate that your system or application is perfectly secure, but it does help you check that your code will not fall apart if it is subject to attack.