SECURITY MEASURES AND TECHNICAL REQUIREMENTS FOR DIGITAL BANKS
Keywords:
digital banking, cybersecurity, secure architecture, data protection, authentication, encryption, fraud prevention, secure APIs, cloud security, user awareness, cyber threats, compliance, zero-trust model, incident response, digital finance, financial technology, resilience, regulatory standardsAbstract
This text explores the multifaceted approach required to ensure the security of digital banks. It analyzes how digital-only financial institutions must rely on advanced technological infrastructure, secure development practices, and regulatory compliance to protect sensitive customer data and maintain service continuity. The discussion includes the importance of encryption, authentication systems, fraud detection mechanisms, secure APIs, and cloud infrastructure configurations. Emphasis is placed on the necessity of integrating security throughout the system lifecycle, educating users and staff, managing third-party risks, and adhering to evolving legal standards. The text concludes that successful digital banking depends not only on technical excellence but also on building and maintaining customer trust through resilience, transparency, and proactive risk management.
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References
1. Anderson, Ross. Security Engineering: A Guide to Building Dependable Distributed Systems. 3rd ed., Wiley, 2020.
2. European Central Bank (ECB). Cyber Resilience Oversight Expectations for Financial Market Infrastructures. ECB, 2018.
3. Basel Committee on Banking Supervision. Sound Practices: Implications of Fintech Developments for Banks and Bank Supervisors. Bank for International Settlements, 2018.
4. National Institute of Standards and Technology (NIST). Framework for Improving Critical Infrastructure Cybersecurity. Version 1.1, 2018.
