Posts tagged "business protection"

STRENGTHENING CYBERSECURITY FOR ONLINE BANKING

February 25th, 2020 Posted by News 0 thoughts on “STRENGTHENING CYBERSECURITY FOR ONLINE BANKING”

This commitment is for the protection of businesses and its customers

The introduction of online banking has been one of the most accepted technological innovations in the finance sector. The convenience to do transactions through the internet, whether personal or for business purposes, has strengthened the banking industry. The migration to this technology to reduce cost and improve customer experience has been adopted by most of the banking industry.

This digital transformation, however, has paved the way for cybersecurity attacks. The primary challenge for online banking was how to improve and strengthen cybersecurity. This has been a threat to the online banking sector which needed to be addressed.

Paytah Payment Solutions has committed to protecting its business and customers by strengthening its cyberinfrastructure. It is imperative for them that information security policies are implemented such as the use of technology and access management. The need to foster a culture of valuing privacy and security among digital consumers is important. Hence, ethical and responsible management have been put in place.

There are other industries also vulnerable to cybersecurity attacks, such as telecommunications, technology, retail, hospitality, and healthcare. But the finance sector is vulnerable as vital information of businesses and private individuals are at risk.

Reducing the risks, therefore, bridges the gap between the clients and the finance sector, and with this, Paytah believes that the strengthened measures they continue to use are an assurance that this digital innovation is one to be trusted.

Phoenix Payments Ltd | licensed by the MFSA as a Payment Institution | Company No. C77764 | Vision Exchange Building, Territorials Street, Zone1, Level 1, Central Business District, Birkirkara, CBD10170 | Malta

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