India's fintech growth faces increasing cybersecurity challenges, warns PwC-UFF report.
A recent report by PwC India and the Unified Fintech Forum highlights that India’s booming fintech sector, with over 10,200 companies and a projected market value of USD 400 billion by 2030, faces escalating cybersecurity threats. As digital payments and innovations proliferate, vulnerabilities have also surged due to reduced cybersecurity budgets and a skills shortage. Experts emphasize the critical need for robust cybersecurity measures, including Zero Trust Architecture and AI-driven threat detection, to ensure customer trust and secure financial growth. This situation underscores a pivotal moment for India, where embedding cybersecurity into fintech development is essential for sustaining its leadership in the global digital finance landscape.