FinTech: The Challenge

FinTech: The Challenge

 

Prem Chacko -IT Product Systems Chief Architect - The Boeing Company

 

Kim Wilson - Vice President of Technology Operations - JP Morgan Chase Co.

 

Stephanie Smith - Chief Diversity & Inclusion Officer - Fifth Third Bank

 

Technology is changing the way we do business while affecting every aspect of society— from the government to private firms. With ubiquitous smartphones and data stored in the Cloud, the financial landscape has not been omitted from technology’s reach. The business world and the financial realm have reached a critical point with cyber-hackers breaching corporate and government firewalls to gain access to privilegedinformation, wipe out bank accounts, or hold government and financial institutions hostage. Many companies are embracing technologies, such as blockchain-based systems, which offer exponential opportunities to companies as well as clients. It can also add new risks that include financial instability and loss of profits. This challenge for the FinTech industries will become a major concern for consumers when it comes to protecting customer accounts, developing creative security measures, and installing effective processes for better protection while increasing customer satisfaction.

 

At the end of this session, attendees will be able to:

 

1. Understand what challenges the FinTech industry is facing in the changing financial landscape.
2. Examine what steps financial institutions are taking to manage, secure, and protect customer information to create financial stability and success.
3. Explain how innovations can help reduce the risk associated with the use of new technologies and attacks from cyber security hackers.