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Fintech Consortium To Tackle Cybersecurity Issues

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Eddie Waldo
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New consortium to bolster financial industry’s battle against growing cyber threats

Hewlett Packard Enterprise, along with a number of leading names in the financial services sector, have banded together to create a new consortium designed to improve the cybersecurity of financial technology (fintech) companies.

The as yet unnamed consortium is being led and managed by the World Economic Forum (WEF), and will work with its new Geneva-based Global Centre of Cybersecurity, to develop a point-based scoring system for fintech firms.

The move comes amid the threat to the financial sector, which is increasingly integrating more fintech solutions into their everyday services offering.

The WEF-led consortium will develop a set of cyber security standards that fintech companies can sign up to.

The group was apparently founded as a result of a meeting held by the World Economic Forum last year to promote cooperation between the public and private sectors.

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Eddie Waldo
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