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21st February 2022

How Can FinTechs Increase Cybersecurity on Macs?

Carissa Parnell

As companies handling delicate financial user data and often dealing with brand new technology, FinTechs are among the most vulnerable to cybercrimes.

 

paypal logo FinTechs have a greater responsibility when it comes to ensuring that their technology is cyber safe, thanks to their role as innovators in the finance sector. Consider the examples of online banking, payment portals such as PayPal, and applications used by investors. With these comes an expectation of reliability and security. People use these services expecting nothing less than ironclad protection from cybercriminals.

 

FinTech & Cybercrime Pandemic Growth

 

The FinTech industry has been growing comfortably for five years, reaching revenues of £12billion for that timespan, including 2021-2022. 2021 saw a surge in FinTech investment. Much of this was to do with the pandemic since FinTech solutions became integral to the continued functioning of the UK economy; people and businesses required greater access to online financial services.

open lock logo showing cybercrime Unfortunately, cybercrime also rose in the wake of COVID-19 thanks to increased homeworking and inadequate protections on the hardware used outside the formal setting of the office.

The UK lost roughly £1.3billion to fraud and cybercrime between Jan 2021 and August 2021 alone.

Despite cases dropping and a rollback of restrictions, many trends of the pandemic will continue to influence how we work. Lessons learned from lockdowns have meant that more companies are embracing hybrid working and remote working. Therefore, cybercrime dangers remain an issue.

It isn’t just intentional criminal activity that FinTech must worry about. Unintentional data breaches can occur due to employee errors on insecure machines.

 

But what can FinTechs do to protect themselves from data breaches?

The best way that FinTechs can sure up their cyber security is through three simple steps:

  • Source the most secure hardware
  • Benefit from additional software security
  • Utilise tailored solutions by experts

 

  1. Why Macs For FinTechs?

Hardsoft leases state-of-the-art computer hardware to businesses from the best manufacturers in the market.

The latest Macs with M1 chips are some of the very best options for FinTechs. Many years ago, the finance industry had a cultural association with PCs, and Macs were frequently viewed as the domain of more creative industries.

This has since changed. Not only is there a Mac suitable for almost every sector imaginable, but FinTech is a broad industry that has evolved into one which is both highly technical and utilises the latest software to change how we as a society use and access our finances. FinTech is far more fast-paced than the old world of finance. New applications, programmes and techniques are constantly being developed to give users better online finances.

FinTech covers online banking, cryptocurrency, insurance, equity financing, investing, lending, and much more. It is being used in new and exciting ways all the time. It is both technical, financial, and highly innovative. Many FinTechs are highly profitable scaleups requiring lots of power, efficiency, and flexibility from their computer hardware.

This is why the new breed of Macs is ideal in FinTech. The M1 range not only boasts the versatility, efficiency, and power that these businesses require but they are also built to be extremely secure.

Macs have a long association with tighter security but the new M1 devices take this to a new level.

 

Sophos, Symantec, Jamf protect logos 2. Additional Security Software

While M1 devices are incredibly secure as standard, for FinTechs, more security is required. Due to the increased risks in the industry, specialist level software is needed for that protection.

Your business requires programmes that can:

  • Accurately scan all your sensitive and confidential data across all your devices and the cloud.
  • See how that data is being used.
  • Protect you from data leaks.

Hardsoft works with software security partners Sophos, Semantic DLP and Jamf Protect to provide an iron-clad level of security that will not interfere with productivity.

These programmes work to understand and monitor your data and how it is used to protect financial details and your technology at every stage from data leaks, human error, malicious hacks, viruses and more.

3. Tailored Expert Solutions

Some FinTech will use very unique technology as they provide revolutionary innovation to the world of finance. In these cases, they may require a bespoke solution to protect their data. Hardsoft is a member of the Apple Consultancy Network. The result is that we have access to Apple security experts as well as our own highly-trained solutions engineers. These teams can brainstorm with your company to find airtight security solutions for your unique tech and data.

This combination of expert know-how, layered quality security software, and the latest in Mac technology will give your FinTech everything it needs to be cyber safe now and in the future.

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