Cyber threats loom over India's fintech boom, report warns
India's FinTech scene is exploding, with over 10,200 companies and 650 million smartphone users making digital finance a daily reality.
But as the sector grows, so do cyber threats and vulnerabilities.
A new 2024 report from PwC India and the Unified Fintech Forum warns that these risks could slow down progress if security isn't taken seriously.
Funding crunch and hacker evolution
The report points out that shrinking global funding means less money for cybersecurity, while a shortage of skilled pros and heavy reliance on third-party vendors make things trickier.
Hackers are getting smarter, creating sophisticated schemes and strategies to exploit digital payment products and services.
Upgrading security for a safer digital finance future
Experts say it's time to level up with Zero Trust security, AI-driven threat detection, cloud-based protections, and smarter regulatory tech.
With India's FinTech market expected to hit $400 billion by 2030, these upgrades aren't just nice to have—they're essential for keeping digital finance safe and trusted.