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Therefore, whilst security isn’t a barrier to digital transformation, it is a consideration that will impact the speed at which firms transform. It’s also not simply a game of partnering or competing with big tech and fintech firms. Do banks have the infrastructure, resources, and expertise to make a solid digital transformation?
2 Factor Authentication is a subset of the multi factor authentication service that we see mainly in FinTech Apps. The absence of a rate limit implies that there are no restrictions on the number of attempts and/or speed — it is allowed to iterate over codes any amount of times (at any speed) within the session / token validity period.
Data portability Open source freedom enables an organization to deploy databases anywhere and move them at any time — to cloud, on-premises, or hybrid environments. It’s important to note that moving applications to the public cloud doesn’t necessarily eliminate data lock-in.
If your mobile app is a fintech application, it would require very high-security testing for even scenarios when a user is multi-tasking. But with applications that provide content streaming, written content or cloud-based services like Google Drive or Onedrive, the user expects at least partial content to load up on the device.
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