Why Cyber Security is of Key Importance in the FinTech Space?

Cyber security is a term used synchronously with digital services, and more so at present, with the entire world having taken operations across various sectors online. However, digital operations also come with their own set of challenges. Cyber attacks pose one of the biggest threats to digital companies, and data breaches occur on a regular basis, and maintaining data security is one of the biggest challenges for IT, banking and finance companies.

At ClearTax, we have always placed data security as our number one priority since inception. While designing a seamless, intelligible and world-class software for taxes and financial investments, we also incorporated the industry’s best encryption standards and cryptographic protocols. Our security updates are frequent and dynamic, and we use carefully developed electronic and procedural safeguards while we handle our clients’ data. Two of our meticulously engineered data security features we incorporate into the ClearTax software are Two Factor Authentication (2FA) and IP Whitelisting.

Two Factor Authentication (2FA)

2FA gives your account an added layer of security because even in the event that someone guesses your password, they will still not be able to access your account. To log in to your account, a one-time password will be sent to your registered mobile number via SMS.

All account administrators using our software can mandate the enabling of 2FA and can deny access to those users who have not enabled the same.

IP Whitelisting

IP Whitelisting is a security feature where you can control and limit access only to trusted users. Users accessing your ClearTax account can do so only from a list of IP addresses or IP ranges.

Both features can be easily enabled by getting in touch with your ClearTax representative, Besides the above, we guarantee 100% data security with a 128-bit SSL encryption. Our employees are well-trained and required to safeguard your information. Our data archival and retrieval systems are according to government regulations. At ClearTax, we have designed one of the most easy-to-use interfaces for our clients, and while we allow our clients to concentrate on what is important to them, the onus of their data security lies completely with us.