Securing Financial Inclusiveness Adoption of Blockchain FinTech Compliance

Abstract

Financial technology (FinTech) as part of financial inlcussion changes conventional business models to be information technology minded. The presence of FinTech in the wider community makes it easy for access to financial service products and transactions and payment systems more practically, efficiently, and economically. Unfortunately, as the security risk in transacting increases, cyber security in the financial services industry and FinTech service providers is considered a major target by cybercriminals. This study proposed a security management approach through hybrid blockchain method implemented through flask framework and encryption to protect transaction data. The results are promising. Referring to accuracy, this study successfully reduces data leakage and misuse of personal data and financial data in FinTechs.