Top Tips: Due diligence on your fintech partner
Partnering with a fintech company can clearly benefit your treasury operations; but if banks fret about risks associated with new technology, so should corporate treasurers. The right due diligence is essential.
Some 71% of financial institutions consider cybersecurity the most significant risk associated with working with fintech companies, according to a Simmons & Simmons survey. Meanwhile, 60% questioned the security of the testing environment and 55% are concerned about sharing a large amount of data with the fintechs.
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