How to Build a Secure Financial App
Working in fintech requires awareness of the compliance and security obligations inherent with handling financial data. Picking the right partner can help you to meet these obligations while reducing the amount of time and resources you’ll spend implementing them.
App developers need to be in full security compliance, and demonstrate that when audited by their financial institutions. By starting the security process early, and picking the best partners, you can build your whole system toward this end goal, rather than restructuring or adding on extra layers that don’t quite fit with what you’ve already made.
Companies that ignore security from the beginning will be in for a rude awakening. They’ll be forced to learn all about security when they pitch their first bank. They’ve built their product and conducted user testing. Now they’re meeting with banks or investors for subsequent rounds of funding. That’s when they start getting questions about security.
Credential handling is necessary to deliver all use cases for the Envestnet | Yodlee Platform. By working with Envestnet | Yodlee and using either our FastLink or Public Key Infrastructure (PKI) credential management, financial app developers are leveraging our mature and rigorous security credentials to reduce risks for themselves and their customers.
Consider this as a build-versus-buy scenario and ask yourself some key questions:
- Why build a security program around credential management when Envestnet | Yodlee already has one in place?
- Why take on the burden of credential handling when Envestnet | Yodlee can take it out of scope for you?
- Why convince your customers to trust you when Envestnet | Yodlee is already trusted by over 950 organizations worldwide?
- Why not use the Envestnet | Yodlee Platform to save yourself time and money?
Only Envestnet | Yodlee is able to offer clients, both developers and financial institutions, this level of security and peace-of-mind.
Is the data aggregation partner you’re considering following the best practices for security and privacy? To find out, check out our new eBook on Key Security Questions to Ask a Financial Data Aggregation Provider.
Are you developing a financial app? Envestnet | Yodlee can help you to immediately address some of the risk concerns and obligations that you may face one day. The best way to do that is with tools like FastLink and PKI encryption. If you’d like more information on how we can help, feel free to contact us.