Publication of the Report on the Current Status and Prospects of Security Technologies in Digital Finance
[Asia Economy Reporter Sunmi Park] The Financial Security Institute announced on the 25th that it has published the report "Current Status and Prospects of Security Technologies Accompanying Digital Finance," which analyzes the current state of security technologies and innovative technologies in digital finance and forecasts next-generation financial security technologies.
This report analyzed eight security fields based on four digital finance protection targets?data, users, infrastructure, and financial services?and four digital technologies including artificial intelligence, big data, cloud, and blockchain. It also presented prospects for next-generation financial security technologies integrated with these technologies. It serves as a guide to financial security technologies necessary to prevent and respond to increasingly intelligent and sophisticated cyber financial threats and digital financial fraud in an era of transformation where digitalization of finance and COVID-19 coexist.
In the financial security technology status survey section, based on the protection targets in four areas?data, users, infrastructure, and financial services?eight fields were selected: data protection, personal (credit) information protection, user authentication, security of work terminals, system security, network security, financial application security, and financial transaction protection. The report comprehensively introduced concepts, trends, related technologies, relevant laws, and guidelines for each field.
In the innovative technology trend survey section, four major innovative technologies of the Fourth Industrial Revolution?artificial intelligence, big data, cloud, and blockchain?were selected to introduce their concepts, related technologies, status of major countries and operators, market trends, and prospects. Additionally, it forecasted security considerations when developing innovative financial services by integrating innovative technologies, the development direction of financial security technologies applying innovative technologies, and next-generation financial security technologies to watch.
Director Kim Young-gi stated, “For the financial sector to successfully promote digital transformation by utilizing innovative technologies, it is very important to proactively prevent and respond to financial security threats arising from the introduction of innovative technologies by utilizing appropriate financial security technologies.” He added, “The Financial Security Institute will strengthen technical research in the financial IT and security fields so that the financial sector can safely develop and introduce financial services integrated with digital technologies, providing consumers with convenient and trustworthy digital financial services.”
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