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.

Source: www.paytah.com

FINANCIAL INCLUSION THROUGH INNOVATIVE PAYMENT SOLUTIONS

Over the last decade, the significant growth in the global economy has given the previously excluded people traction in the formal economy. Still, billions of people are insufficiently provided with banking and payment services – the underserved businesses and individuals who need to get a foothold and to be financially empowered.

In recent years, financial inclusion has been top-of-mind among institutions and companies through the continuing development in finance technology. Innovations in online payment services have changed the game, with a variety of the best payment solutions now available even for individuals and small to midsize businesses.

The evolving finance technology innovations are driving advancement across communities, affording them more time to run their businesses more efficiently. New financial habits and standards are created which now allows individuals to have a hands-on role in managing the financial well being of their businesses.

Paytah Payment Solutions, one of the top payment service providers in Europe, uses cutting edge financial technology applications. Paytah is a participant of the European Payment Council and is a user-friendly, cost-effective and crypto-friendly payment service alternative. It is also the first finance institution to offer IBAN (International Bank Account Numbers) running on blockchain.

 

Supporting the crypto revolution is part of Paytah’s core value. It is an important milestone in the company’s quest to taking banking experience to the next level which even the underserved businesses can now access and appreciate.

Trends in finance technology have influenced the progress in communities where transparency and accessibility to funds were previously deficient. With the

advancement in finance technology, the underserved enterprises now have access to digital platforms that provide low-cost payment solutions whilst owners have the chance to restructure and modernize their company’s activities to further grow their businesses.

For more information on Paytah, visit www.paytah.com.

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ABOUT PAYTAH PAYMENT SOLUTIONS

Paytah Payment Solutions (Phoenix Payments Ltd) is a fully licensed financial institution regulated by the Malta Financial Services Authority (MFSA). It has passported its activity to all 28 EU and EEA member states. PAYTAH operates under the legal framework of the European Payment Services Directive established to provide safer and more innovative payment services across the EU.

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