Fintech360 Partners with FUGU to Elevate Fintech Security Measures

With Digital Fraud on the Rise, Top Fintech Providers Step Up to Ensure Client Security

NEW YORK, NY, June 18, 2024 (GLOBE NEWSWIRE) — Recently, Fintech360 (https://www.fintech360.com/) announced its cooperation with FUGU and launched innovative solutions for fintech security. In recent years, fintech has revolutionized the way users manage their finances. From instant digital payments and online banking to cryptocurrency trading, fintech has made financial transactions faster, more convenient, and more accessible than ever before.

However, this digital revolution comes with a downside. In the wrong hands, even the most beneficial instruments can be used for malicious purposes. While most users adopt new financial technologies to simplify their lives, others exploit these innovations for fraudulent practices.

For example, in 2023, about $22.2 billion worth of cryptocurrency was sent to illicit addresses, a clear scheme of money laundering. Cryptocurrency is just one component of fintech; other elements like P2P digital payments and online banking significantly increase these numbers.

Fintech Providers Face Security Challenges

Under these conditions, top fintech providers face a dual challenge: offering competitive financial services while ensuring high-level protection for their clients. The industry’s leaders are now in a heated race to implement the most effective anti-fraud and anti-money laundering (AML) measures.

B2B fintech solution providers demonstrate the highest dedication to security. Unlike other businesses focusing on specific financial services, B2B solution providers create comprehensive ecosystems relied upon by other organizations. With such responsibility, enhanced safety measures are crucial to protect both their operations and those of their clients.

Fintech360 Leading the Fintech Solutions Race

A prime example of a fintech solution provider committed to security is Fintech360. This company’s responsible approach to transaction and data safety sets it apart as a leader in the field. Fintech360 is renowned for its high-quality B2B services provided to regulated brokers, including CRM systems, payment gateways, business intelligence tools, trading platforms, and more.

Fintech360’s mission goes beyond profit-making; it aims to revolutionize the brokerage industry with innovative omni-channel solutions. The company focuses on achieving the highest efficiency while keeping its trading platforms simple and user-friendly, available for both iOS and Android.

How Fintech360 Ensures Client Protection

Fintech360 is a blueprint for B2B fintech solutions providers, both in the quality of its services and the security measures it takes to protect its clients. The company’s security system relies on a multi-layered, cloud-based infrastructure that ensures the highest level of data safety. It meets the latest industry standards, employing advanced security tools to protect sensitive information and prevent fraudulent practices.

Major safety measures employed by Fintech360 include Rest API encrypted protocols and disc encryption at rest, ensuring secure data storage and transfer. Given the volume of data handled, this aspect cannot be overestimated.

Other security measures include Data Loss Prevention (DLP) services, comprehensive security logs, a permission-based platform structure, and automatic security monitoring tools. Additionally, the company utilizes two-factor authentication (2FA) for both B2B clients and internal users.

Fintech360 Teams Up with FUGU for Enhanced Security

Despite its robust internal security measures, Fintech360 recognizes the value of third-party support in covering global, strategically important elements like anti-fraud and AML. To this end, Fintech360 has partnered with FUGU, a leading provider of payment fraud detection software known for its innovative approach to digital safety.

FUGU’s post-checkout verification system allows parties to confidently accept transactions while minimizing the risk of false declines, a common method of fraud. Using constant transaction monitoring, pattern analysis, and AI tools, FUGU effectively combats various fraud models, including stolen identities, account takeovers, and friendly fraud.

In terms of AML, FUGU excels with customer due diligence (CDD) and know your customer (KYC) procedures, ensuring thorough vetting of platform clients and preventing onboarding of individuals involved in money laundering. FUGU’s transaction monitoring mechanisms detect suspicious patterns and eradicate potential money laundering operations without manual involvement.

Setting an Industry Safety Example

Fintech360’s collaboration with FUGU represents a significant step towards even greater digital security in fintech. This partnership highlights the importance of a comprehensive approach to digital security, covering all crucial elements.

Today, fintech providers emphasize protecting customer data and funds, recognizing the critical nature of these issues. However, they must not overlook anti-fraud and AML measures as essential components of their security infrastructure.

By teaming up with FUGU, Fintech360 solidified its position as a leader in fintech security. This partnership serves as a noteworthy example for other companies, demonstrating that to be the best, you should collaborate with the best. This statement holds true for both Fintech360 and FUGU.

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Email:support@fintech360.com

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SOURCE: Fintech360