Fintech Can Collapse Without Layered Security: Here Are Its 4 Secret Layers
Jakarta, VIVA - Provider of digital identity and fraud prevention solutions, Vida, reminds of the importance of secure and verifiable digital identity infrastructure in protecting the growing financial technology (fintech) ecosystem.
Founder and Group CEO of Vida, Niki Santo Luhur, explains how cybercrime tactics are becoming increasingly complex, while highlighting the strategic steps that fintech industry players in Asia need to take to anticipate such threats.
“We all realise that scams are becoming more prevalent worldwide with ever-evolving methods. Education alone is not enough to face this challenge. It must be complemented by strengthening infrastructure and a legal ecosystem capable of protecting consumers and raising security standards,” he said on Friday, 24 April 2026.
Strengthening infrastructure is a crucial foundation for fintech players. He believes that implementing multi-layered defence is essential to counter increasingly sophisticated digital fraud methods.
“Like in the Middle Ages, when building a castle, the defence system was designed in layers to protect against enemy attacks. A similar approach needs to be applied in building security in the fintech industry,” he stated.
Niki then shared four layers and strategic steps that fintech players can implement to optimise their security systems:
Individual verification. Utilising biometric technology supported by additional security layers is crucial to ensure that the user is a real individual, not just an image or photo snippet taken from the internet.
Device verification. This aspect is often overlooked, yet if anticipated, it can help strengthen the security system. Many attacks start from device vulnerabilities, such as injection attacks that allow camera manipulation.
In this scenario, scammers can input fake biometric data, such as photos, video recordings, or AI-based deepfakes into the system. Therefore, it is important to ensure that the camera source and facial biometrics used are truly authentic and not manipulated.
- Identity verification. It is important to ensure that the identity used is registered in the local government’s database, including alignment with the physical identity documents possessed.