Securing Your Smart Finance Stack: How IoT And Connectivity Affect Financial Services

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00:00Securing your smart finance stack how IOT and connectivity affect financial

00:04services personal finance now spans smartphones wearables and voice

00:09assistants creating a connected smart finance stack this IOT driven

00:15convenience makes money management faster and more seamless but also widened

00:19security risks as financial data flows across multiple devices and networks

00:24safeguarding it becomes essential to maintain trust and control in a

00:28hyperconnected world how IOT expands the attack surface each connected device

00:34adds a potential entry point for cyber criminals within your financial network

00:38here are common IOT risks in finance 1 unsecured Wi-Fi and routers default

00:47settings or weak encryption let attackers intercept traffic or alter DNS queries 2

00:52device exploits and firmware vulnerabilities smart devices often run

00:58outdated firmware with limited patching mechanisms a compromised IOT camera or

01:03thermostat could in theory serve as a gateway to your phone or trading app 3 API

01:09and app integration weaknesses financial apps rely heavily on API's to sync across

01:15platforms poorly configured API's can expose sensitive data or allow unauthorized

01:21commands for man-in-the-middle attacks unsecured connections enable hackers to steal tokens or

01:28inject malicious code strengthening the smart finance stack to secure financial data across

01:35connected ecosystems IOT protection must be built into fintech infrastructure from the start

01:41one secure the network layer use dedicated networks for financial devices enable WPA3 and keep router firmware updated

01:51two adopt multi-factor and biometric authentication modern financial apps support biometric fingerprint or facial and two-factor authentication

02:03helping prevent unauthorized access even if a single credential is compromised

02:08three encrypt data and to end ensure all financial communications trading orders account updates and notifications use TLS 1.3 or stronger

02:20avoid public Wi-Fi for sensitive transactions unless using a trusted VPN 4 segment

02:27devices and access keep smart home gadgets separate from financial systems to contain

02:33breaches 5 regular software and firmware updates enable automatic firmware and

02:40software updates to patch vulnerabilities quickly securing smart finance in the IOT era banks and

02:48fintechs are reinforcing IOT security with AI zero trust models and encrypted cloud links

02:54users still play a key role by managing permissions and device safety as finance evolves adaptive AI and

03:01blockchain will keep networks secure and trusted go to gear brain for more information