Search

FinTech is the term used to refer to financial and technology convergence space solutions. It usually refers to new innovations that conduct or connect with financial services via the internet, smart devices, software applications, or cloud services and encompasses anything from mobile banking to cryptocurrency applications. Despite the advantages of FinTech, cybercriminals seized the opportunity to exploit vulnerabilities in FinTech systems. Phishing attacks, ransomware, and data breaches have become more prevalent, targeting individuals and FinTech institutions. Bahrain, which is not different from the rest of the world, was impacted by such cyber threats. Thus, FinTech companies have had to strengthen their cybersecurity countermeasures and protocols to combat these threats.

ABSTRACTWinds of change are blowing across the financial systems, with services and advancements in Financial Technology (FinTech) influencing all aspects of the financial sector and generating a continual stream of innovations. Despite benefits offered by FinTech, it creates new challenges that endanger financial institutes’ stability and integrity. As cyber-attacks increasingly threaten the FinTech industry, cybersecurity can be considered as one of the main challenges that need to be addressed to properly manage risks associated with integrating FinTech services in people’s day-to-day life. This Systematic Literature Review (SLR) highlights the cybersecurity challenges that FinTech industry faces and discusses existing measures that can effectively manage FinTech cybersecurity risks. An analysis of the existing literature and regulations is carried out to identify comparable components that exist across some internationally well-known cybersecurity standards and frameworks. Considering Bahrain as a case study, the paper explores key elements and factors that were not addressed adequately while implementing such standards. Research findings indicate that creating a cybersecurity framework for FinTech could be advantageous and offers a new perspective on the topic by demonstrating a natural extension of the existing knowledge. The findings offer useful suggestions for Bahrain’s financial regulators to get better acquainted with these aspects. It lays the foundation to develop a cybersecurity framework for FinTech specifically for Bahrain, and it endeavors to raise the level of cybersecurity and a trusted electronic environment for both the customers and service providers in Bahrain.

Providing high quality of service (QoS) to mobile end-users, and guaranteeing resilient connectivity for healthcare wearables and other mobile devices is a critical component of Industry 5.0. However, one of the biggest difficulties that network operators encounter is the issue of mobility handover, as it can be detrimental to end-users’ safety and experience. Although various handover mechanisms have been developed to meet high QoS, achieving optimum handover performance while maintaining sustainable network operation is still an unreached goal. In this paper, random linear codes (RLC) are used to achieve seamless handover, where handover traffic is encoded using RLC and then multicasted to handover destination(s) using a mobility prediction algorithm for destination selection. To overcome the limitations of current IP core networks, we make use of a revolutionary IP-over-Information-Centric Network architecture at the network core that supports highly flexible multicast switching. The combination of the RLC, flexible multicast, and mobility prediction, makes the communication resilient to packet loss and helps to avoid handover failures of existing solutions while reducing overall packet delivery cost, hence offering sustainable mobility support. The performance of the proposed scheme is evaluated using a realistic vehicular mobility dataset and cellular network infrastructure and compared with Fast Handover for Proxy Mobile IPv6 (PFMIPv6). The results show that our scheme efficiently supports seamless session continuity in high mobility environments, reducing the total traffic delivery cost by 44% compared to its counterpart PFMIPv6, while reducing handover delay by 26% and handover failure to less than 2% of total handovers.

Blockchain is a decentralized and distributed ledger technology that enables secure and transparent recording of transactions across multiple participants. Hyperledger Fabric (HLF), a permissioned blockchain, enhances performance through its modular design and pluggable consensus. However, integrating HLF with enterprise applications introduces latency challenges. Researchers have proposed numerous latency performance modelling techniques to address this issue. These studies contribute to a deeper understanding of HLF’s latency by employing various modelling approaches and exploring techniques to improve network latency. However, existing HLF latency modelling studies lack an analysis of how these research efforts apply to specific use cases. This paper examines existing research on latency performance modelling in HLF and the challenges of applying these models to HLF-enabled Internet of Things (IoT) use cases. We propose a novel set of criteria for evaluating HLF latency performance modelling and highlight key HLF parameters that influence latency, aligning them with our evaluation criteria. We then classify existing papers based on their focus on latency modelling and the criteria they address. Additionally, we provide a comprehensive overview of latency performance modelling from various researchers, emphasizing the challenges in adapting these models to HLF-enabled IoT blockchain within the framework of our evaluation criteria. Finally, we suggest directions for future research and highlight open research questions for further exploration.