Guangzhou “2017 China Rural Financial Technology Innovation Development Forumâ€: Exploring the painful problems in rural financial technology construction
In recent years, the “2017 China Rural Finance Technology Innovation and Development Forum,†organized by the Rural Credit Fund Clearing Center, took place in Guangzhou. The event aimed to identify key challenges in rural financial technology development and explore innovative ideas and technological solutions for the integration of information technology in rural finance. Experts from the People’s Bank of China's Liquidation Center, the China Banking Association, and various rural financial institutions gathered to promote the sustainable growth of rural financial technology. Ma Weiyan, Chief Security Officer (CSO) of Ruili Information, was invited to speak at the forum, delivering a keynote address titled “Innovative Dynamic Technology to Secure the Safe Future of Financial Technology.â€
Financial technology, driven by cloud computing, big data, and the Internet, is reshaping China’s financial sector. It has revolutionized transaction methods and payment systems, significantly boosting market efficiency and opening up new opportunities for growth. In the rural financial industry, where the customer base is large and dispersed, leveraging the Internet to offer more comprehensive products and services is essential. However, this also brings new security challenges, such as business fraud, online attacks, and the leakage of customer privacy. Incidents like malicious registration, brute force cracking, bulk card creation, false transactions, and data theft have become increasingly serious, creating complex and unpredictable risks.
Ma Weiyan emphasized that today’s financial institutions face growing threats from automated tools, which are becoming more sophisticated. Hackers often use legitimate accounts to mimic user behavior, making it difficult to distinguish between real users and malicious actors. These attacks typically come from multiple IP sources and operate at low frequencies, making them hard to detect. As a result, traditional security measures—relying on reactive patches and fixes—are no longer sufficient. To protect rural financial operations, more proactive and innovative security strategies are needed to reduce vulnerabilities and prevent damage from cyberattacks.
Ruili Information’s dynamic security technology aims to shift the balance of power by adopting a “preemptive strike†approach, moving away from static, rule-based defenses toward a dynamic, event-driven model. This allows the system to adapt in real-time, making it harder for attackers to exploit weaknesses. By constantly changing its defense mechanisms, the technology confuses potential hackers and increases the difficulty of successful attacks.
In simple terms, traditional security systems act like fixed targets, while Ruili’s solution makes the target move, continuously confusing attackers and raising the cost of an attack. When criminals attempt to access a financial institution’s online services, the dynamic security solution creates obstacles, forcing them to abandon their efforts and ultimately protecting the institution’s applications and user accounts.
This proactive defense strategy is particularly valuable for rural financial institutions, which manage a wide range of complex applications. It not only helps defend against zero-day attacks but also prevents fraud, account takeovers, and large-scale carding activities. By integrating dynamic security with big data and visualization technologies, Ruili Information provides a powerful tool for detecting and blocking fraudulent activities, ensuring safer and more reliable online financial services for users.
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