• 3 MIN READ
Advancing Cybersecurity in Digital Education
April 15, 2024
We are delighted to share with our readers that Payrow’s collaboration with EdTech platforms has been recognised in a Forbes article by David Balaban, a prominent voice in contemporary cybersecurity and online privacy issues.
By ensuring the safety of financial transactions and securing critical financial data, Payrow addresses key concerns within the EdTech industry. These platforms require robust payment systems that adhere to stringent regulatory standards, such as those set by the Financial Conduct Authority (FCA) in the UK.
Payrow leverages cutting-edge technology to perform thorough counterparty checks and provide continuous transaction monitoring. The solutions applied not only simplify financial processes — making them faster and more reliable than traditional banking methods — but also uphold trust and compliance.
You can read an extract from the review below:
Protecting EdTech platforms requires a multifaceted approach. Implementing strong, unique passwords, ensuring proper user access rights, conducting regular software updates and backups, as well as fostering a culture of security through training and awareness programs, are fundamental steps in protecting against modern cyber threats.
These measures were successfully implemented by UPI Study, an innovative EdTech platform that offers online college credit courses to students. This enables them to transfer up to 60 college credits towards a degree program in the US and Canada, making higher education more accessible and affordable.
At UPI Study, both students and educators play a significant role in maintaining cybersecurity. Beyond the measures mentioned above, they adopt secure browsing habits, use VPNs, and exercise caution when sharing personal information. UPI Study's commitment to cybersecurity is evident through its accreditation and the solid security protocols it employs to safeguard user data.
It is also important for any organization to understand how to respond to a cybersecurity incident. Immediate steps to contain the breach, along with long-term strategies for recovery, can mitigate the impact of cyber-attacks on educational institutions. In such situations, having a detailed incident response plan with clear roles outlined for all participants is essential.
Ensuring the safety of financial transactions and the security of financial data is paramount. The integration of modern payment systems is a reliable and convenient option for educational platforms. These systems must comply with regulatory bodies such as the Financial Conduct Authority (FCA) in the UK, the Consumer Financial Protection Bureau (CFPB) in the US, the Financial Consumer Agency of Canada (FCAC), and the European Banking Authority (EBA) in the EU. FinTech services, like Payrow, utilize modern technologies to conduct thorough checks on counterparties and provide transaction monitoring. This approach facilitates a secure and smooth financial transaction process for both educational platforms and their users, simplifying and speeding up processes compared to traditional banks while ensuring trust and compliance are maintained.
Read the full article on ‘Forbes’!
Forbes is a well-respected business magazine that has been a prominent publication since its inception in 1917. Forbes is also known for its comprehensive reports on technology, communications, science, and law. It serves as a crucial resource for business leaders, entrepreneurs, and investors who are keen on staying up-to-date with the latest trends and insights in the business world.