Cybersecurity in mobile fintech applications: Addressing the unique challenges of securing user data

Adebayo Y. Balogun 1, Kingsley Nana Peprah 2, *, Solomon Olaniyi Martins 3, Stacey Obielu 4, Job O. Adegede 5, Isyaku Abdullahi Odoguje 6 and Ebuka Mmaduekwe 7

1 Cybersecurity, University of Tampa, FL. United States.
2 Masters of Business Administration, Scott College of Business, Indiana State University, IN. USA
3 Technical Department, Cyberspace Limited, Abuja, Nigeria.
4 Masters of Business Administration, University Canada West, Vancouver, BC. Canada.
5 Cybersecurity Department, Microsoft TEALS Project, Englewood, Chicago. USA.
6 Computer Science, Montclair State University, NJ. USA.
7 Information and Communication Science, Ball State University, Muncie, Indiana. USA.
 
Review Article
World Journal of Advanced Research and Reviews, 2024, 23(02), 2704–2710
Article DOI: 10.30574/wjarr.2024.23.2.2635
 
Publication history: 
Received on 2O July 2024; revised on 27 August 2024; accepted on 30 August 2024
 
Abstract: 
With the rapid proliferation of mobile fintech applications, the financial industry has witnessed significant transformations in how consumers manage, transfer, and invest money. However, the increasing reliance on mobile platforms has also introduced unique cybersecurity challenges. This review paper examines the specific threats facing mobile fintech applications, evaluates current security measures, and discusses future directions to enhance user data protection. Through an analysis of recent literature, this paper aims to provide a comprehensive overview of the state of cybersecurity in mobile fintech and the ongoing efforts to secure sensitive financial information.
 
Keywords: 
Cybersecurity; Fintech; Mobile Fintech; Artificial Intelligence; Blockchain; Financial information; Threat Detection; Regulatory Compliance
 
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