API Security Challenges and Risk Mitigation in Fintech Applications

The rapid adoption of Application Programming Interfaces (APIs) in financial technology (fintech) has revolutionized the industry by enabling seamless integration and enhanced user experiences.However, APIs also introduce significant security challenges that require robust risk mitigation strategies.This paper explores the specific security vulnerabilities associated with APIs in fintech applications and proposes comprehensive strategies to mitigate these risks, thereby safeguarding sensitive financial data and maintaining consumer trust.This is further supported by insights from the