A Study of Countermeasure against Security Risk of Fintech Services for Financial Innovation

금융혁신을 위한 핀테크 서비스의 보안 리스크 대응방안 연구

  • 박정국 (금융결제원 금융결제연구소) ;
  • 김인재 (동국대학교 경영학부)
  • Received : 2015.09.11
  • Accepted : 2015.12.05
  • Published : 2015.12.31


Fintech, which means the convergence of finance and information technology, becomes a hot topic in the financial sector. Through innovative activities on financial services, ICT(Information and Communication Technology) is integrated into the overall financial industry, and a new form of financial services could be expected to improve the existing financial system. On the other hand, fintech services are relatively vulnerable to security issues. Due to the process simplication and the channel fusion, the leakage of personal and financial informations, authentication bypass, phishing, and pharming are getting more concerned. In this study we investigated the security risk of fintech services in the viewpoints of service provider, technology adoption, and security policy. The possible countermeasures to reduce those risks are suggested because security is an important criterion for selecting financial services. This study basically offers quantification of the potential security risks and step-by-step control measures about business processes in the fintech services. The suggested security model includes user authentication, terminal security, payment information protection, API(Application Programming Interface) security, and abnormal transaction monitoring. This study might contribute to an understanding of the security risks and some possible measures for mitigating those risks on the practical perspective.