We have already explained what you can do to protect your data in Finom.
In this article, we will explain what type of technologies Finom uses to protect your data. and to ensure the highest level of security.
Firstly, Finom does not have access to your banking credentials, meaning you will be the sole owner, and the only person aware of the correct email and password to sign into your account. To protect these credentials, Finom will use encryption. The data is encrypted twice, and the security of the access is also assured by the one-time password (two factors authentication) which is mandatory for every access.
When it comes to payment and online purchases, to protect your money Finom can rely on;
The 3D-Secure system: a protocol to tie the financial authorization process with online authentication. The 3D-Sec will work both for Visa and Mastercard. Once you attempt to buy or pay for something online, Finom will use the SMS verification code to verify it is really you who just initiated the online card payment.
Card encryption is a security measure used to reduce the likelihood of credit or debit card information being stolen. It is the process of encoding credit card information for secure transmission through card processing networks or across the Internet. Credit card encryption involves both the security of the card, the security of the terminal where a card is scanned, and the security of the transmission of the card’s information between the terminal and a computer system.
Finally, it's important to note that Finom is 100% GDPR compliant. This means you can disconnect your account anytime, and revoke your consent to the treatment of your personal data whenever you want.
This way, your account will be protected from potential fraud and data stealing.