In the dynamic world of financial technology (Fintech), securing financial data is a key priority. Increasing digital connectivity, adoption of cloud-based services requiring complex measures to protect the integrity, privacy and availability of sensitive information. Encryption techniques are emerging as a key tool to achieve these goals about itself by converting plaintext into ciphertext, protected from unauthorized access and probability violations. This review paper examines the various encryption techniques required to secure financial information in fintech applications. The main methods described include symmetric encryption, asymmetric and hybrid encryption techniques. Additionally, the function of end-to-end encryption (E2EE) is discussed in terms of protecting data privacy while it is being sent, which is essential for safeguarding sensitive financial activities such as mobile banking and digital payments. With its sophisticated method of permitting calculations on encrypted data without the need for decryption, homomorphic encryption shows promise for facilitating safe data analysis in Fintech settings while preserving data confidentiality. Each encryption method is scrutinized in terms of its strengths, weaknesses and practical applications in Fintech. Considerations such as computing efficiency, scalability, and regulatory compliance are addressed to provide insights for optimizing data protection strategies while adhering to industry standards and regulatory frameworks. The future of Fintech security is expected to be shaped by new developments in encryption technology, including post-quantum cryptography, artificial intelligence integration for adaptive security measures, and privacy-preserving solutions. The goal of these advancements is to strengthen the robustness of financial data security techniques in an increasingly linked digital world while mitigating changing cyber risks.
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