FinTech & CyberSecurity: Bringing Together Two Industries That Already Go Hand-In-Hand – Startupbootcamp
The #FinTech revolution has been one of the hottest tech topics in the last couple of years. It has disrupted the status quo, modernized old institutions, and changed the way consumers access financial products and services.
As we become increasingly dependent on accessing our money and paying our bills through smartphones and watches, it’s not surprising that global investment in financial #technology has reached $5.3 billion in the first quarter of 2016 alone.
Similarly, we have witnessed how financial services have started to pay attention to the effects of fintech startups in their industry with the launch of in-house innovation programs, and increased collaboration with those most likely to reshape the financial landscape.
As the relationship between technology and financial services deepens, so do the threats posed by increasingly sophisticated hackers. No market is directly affected by it more than the financial services. A report by PWC revealed that 45% of financial sector respondents reported to have been affected by cyber crime compared to 34% across other industries. Globally, the cost of cyber crime is estimated to reach $2 trillion by 2019, and today’s news from the EU commission on the new £450 million cyber security fund takes a large step towards combatting this probem.
At #Startupbootcamp we run accelerator programs that develop and scale startups in specific emerging industries. Today we’re thrilled to announce the launch of our latest program: Startupbootcamp Fintech & #CyberSecurity. Following the success of our FinTech programs in London, New York, and Singapore, this program will play a vital role in bridging the gap between fintech and cyber security industries.