A computer screen displaying the word cybersecurity

Cybersecurity – A Big Deal for Fintech

We do a lot of things online.

We shop at online marketplaces. We rent movies at online video libraries. We manage our finances in online banking apps – all from the comfort of our homes. On the downside, criminals don’t have to stand up from their couch either, to rob your bank or steal your private data. Internet crime and assaults on cybersecurity occur in increasing numbers. Banking institutions are a popular target, as are their little, nonconformist peers: Fintech companies.

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A stylized smartphone showing an different emoney business options, from governmental to payment applications

Building Your Own Emoney Online Business

Prospects and Challenges

In the modern economy, digital payment processes have become a key business factor. Electronic money is transferred across virtual wallets all over the globe at second intervals — or even quicker. Who can build and innovative emoney business quickly, can carve out a niche for themselves.

“Fast-pacedness, however, is not the only reason behind the rise of ewallets and payment software. Profitability also plays a huge role. According to statistics by McKinsey, shifting their customers from traditional offline to digital accounts can save an enterprise up to 90 percent in service costs. Consequently, mobile and online payment solutions are in high demand. In 2016 the Statista Digital Market Outlook predicted an increasing growth rate for the mobile payment sector. 63% within 5 years, to be exact.

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