Did you know that the financial sector is the target of 35% of global cyberattacks, according to the IBM X-Force Threat Intelligence Index 2023 report? In a world where digitalization is accelerating, data protection has become a crucial issue for customer financing companies. Faced with these growing cyber threats, these organizations must adopt innovative solutions to secure their operations and maintain customer trust. It is in this context that low-code platforms are emerging as an effective response to cybersecurity challenges in customer financing. Let's explore how this revolutionary approach can strengthen the protection of sensitive data while optimizing business processes.

1\. Cybersecurity Challenges in Customer Financing

1.1 The Sensitivity of Financial Data

The customer financing sector handles highly sensitive information daily: bank details, credit histories, income, etc. This data represents a prime target for cybercriminals, placing data protection at the heart of concerns for companies in the sector.

1.2 Growing Risks of Cyberattacks

With the increase in online transactions and the sophistication of hacking techniques, the risks of cyberattacks have never been higher. According to a Kaspersky study, applications developed with low-code or no-code platforms are not exempt from vulnerabilities and require special attention in terms of security.

• Targeted phishing
• Ransomware
• Distributed Denial of Service (DDoS) attacks
• Identity theft

1.3 Regulatory Requirements

Regulations such as GDPR in Europe and CCPA in California impose strict obligations on personal data protection. Financing companies must therefore implement robust security measures to ensure GDPR compliance and avoid heavy penalties.

Looking to strengthen your financing company's cybersecurity? Discover how Basikon can help by requesting a personalized demo!

2\. Low-Code: An Innovative Approach to Enhance Security

2.1 What is Low-Code?

Low-code is a development approach that allows creating applications with minimal manual coding. This method relies on visual interfaces and pre-built components, facilitating the rapid creation of customized solutions for secure customer financing.

2.2 Low-Code and Cybersecurity: A Promising Alliance

Contrary to popular belief, low-code platforms can significantly contribute to strengthening the security of financing applications. As highlighted in an expert article from mc2i, low-code offers integrated security features and efficient consent management, essential for protecting customer data.

2.3 Automation in the Service of Security

Low-code platforms allow the automation of numerous security processes, thus reducing the risks of human error. This secure automation contributes to strengthening the overall protection of data in customer financing.

3\. Advantages of Low-Code for Data Protection

3.1 Reduction of Attack Surface

By using pre-built and tested components, low-code platforms reduce the risks of vulnerabilities associated with custom code. This approach helps to decrease the potential attack surface for cybercriminals.

Concrete example: A consumer credit company using a low-code platform reduced detected vulnerabilities by 60% during its annual security audits.

3.2 Simplified Security Updates

Low-code platforms facilitate the rapid deployment of security updates. This agility allows financing companies to promptly react to new threats and maintain an optimal level of protection.

Concrete example: Thanks to its low-code platform, an auto leasing company was able to deploy a critical security patch in less than 4 hours, compared to several days previously.

3.3 Granular Access Control

Low-code solutions generally offer advanced access management features. This granularity allows for the implementation of strict security policies, essential for the protection of sensitive data in customer financing.

Ready to discover how low-code can revolutionize your financing company's security? Contact Basikon for a tailored demonstration!

4\. Best Practices for Cybersecurity with Low-Code Platforms

4.1 Integration of Security from Design

It is crucial to adopt a "security by design" approach when developing applications with low-code platforms. As highlighted in an article from Silicon.fr, security must be integrated at every stage of the development process.

4.2 Team Training and Awareness

Although low-code platforms simplify development, it is essential to train teams on security best practices. This awareness helps create a cybersecurity culture within the company.

4.3 Regular Security Audits

Conducting regular security audits allows for identifying and correcting potential vulnerabilities. These controls are essential to maintain an optimal level of data protection over time.

5\. Case Study: How Basikon Strengthens Security in Customer Financing

5.1 The Basikon Solution: Combining Flexibility and Security

Basikon positions itself as a reference low-code platform for the financing sector. Its solution combines flexibility and security, allowing companies to rapidly develop customized applications while ensuring a high level of data protection.

5.2 Advanced Security Features

The Basikon platform integrates advanced security features, such as:

• End-to-end data encryption
• Adaptive multi-factor authentication
• Fine-grained, role-based access management
• Advanced logging for complete traceability
• Real-time anomaly detection using AI

These tools allow financing companies to effectively protect their customers' sensitive information while complying with current regulations.

5.3 Customer Success: Leascorp

The example of Leascorp, a company specializing in financial leasing, perfectly illustrates the benefits of Basikon in terms of security. Thanks to the platform, Leascorp was able to:

• Efficiently manage a growing volume of data (+150% contracts over two years)
• Ensure the protection of sensitive information for over 32,000 customers and 300 partners
• Reduce the time required for security audits by 40%
• Improve GDPR compliance through automated consent management

Conclusion

The adoption of low-code platforms represents a major opportunity for customer financing companies looking to strengthen their cybersecurity. By combining agility, automation, and advanced security features, these solutions effectively address the challenges of data protection in a constantly evolving digital environment.

Companies that know how to leverage this innovative approach will be better equipped to face cyber threats while optimizing their business processes. In a sector where trust is paramount, investing in a secure low-code solution like Basikon can make all the difference.

Discover how Basikon can strengthen your financing company's cybersecurity. Request a personalized demo today!

FAQ

Q1: Are low-code platforms really secure for customer financing?

A1: Yes, modern low-code platforms incorporate numerous advanced security features. However, it is crucial to choose a reputable solution like Basikon and follow cybersecurity best practices.

Q2: How can low-code help with GDPR compliance?

A2: Low-code platforms facilitate the implementation of automated processes for consent management, data traceability, and deletion, thus contributing to GDPR compliance.

Q3: What are the main advantages of low-code for cybersecurity in financing?

A3: The main advantages include reducing the attack surface, ease of system updates, and integration of advanced security features from the application design stage.

Q4: Does low-code allow customization of security measures?

A4: Yes, low-code platforms like Basikon offer great flexibility to customize security measures according to the specific needs of each financing company.

Q5: How to choose the right low-code platform to ensure the security of my financing data?

A5: It is important to choose a platform specialized in the financial sector, offering robust security features and compliance with current regulations. Basikon meets these criteria and offers tailored solutions for customer financing.

Q6: What are the specific cybersecurity challenges in customer financing?

A6: The main challenges include protecting sensitive personal and financial data, complying with strict industry regulations, preventing fraud, and maintaining customer trust while offering convenient and fast online services.

Q7: How can low-code help prevent fraud in customer financing?

A7: Low-code platforms like Basikon make it easy to integrate fraud detection algorithms, automate identity verifications, and implement real-time alert systems, thus strengthening the fight against fraud in customer financing.

To Learn More

To deepen your knowledge about cybersecurity in customer financing and the benefits of low-code, we recommend the following resources:

• Basikon Solutions for Customer Financing
• Discover the Basikon Platform in Detail
• Basikon Blog: News and Insights on Financing and Technology