Hardware Security in Evolving FinTech Landscape

Abstract

The assimilation of technology into the financial sector, often referred to as FinTech, has brought about a significant transformation. This shift has not only widened the scope of financial inclusivity but has also fundamentally reshaped the contours of financial solutions delivered. As FinTech solutions continue to empower individuals with greater control over their finances through mobile banking, digital wallets, and advanced data analytics, the security of these innovations becomes paramount. While software security has traditionally received more attention, this paper underscores the significance of hardware security, which serves as the foundational infrastructure for software security measures. It delves into the factors used to evaluate hardware security and outlines various categories of hardware attacks. A case study, focusing on point-of-sale (PoS) systems, exemplifies the importance of hardware security in FinTech. Ultimately, this research contributes to a comprehensive understanding of the evolving FinTech landscape and its implications for both financial inclusion and cybersecurity. © The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd. 2025.