Financial Technology (FinTech) has attracted a wide range of attention and is rapidly proliferating. As a result of its consistent growth new terms have been introduced in this domain. The term 'FinTech' is one such terminology. This term is used for describing various operations that are being frequently employed in the financial technology sector. These operations are usually practiced in enterprises or organizations and provide requested services by using Information Technology based applications. The term does take into account various other sensitive issues, like, security, privacy, threats, cyber-attacks, etc. This is important to note that the development of FinTech is indebted to the mutual integration of different state of the art technologies, for example, technologies related to a mobile embedded system, mobile networks, mobile cloud computing, big data, data analytics techniques, and cloud computing etc. However, this technology is facing several security and privacy issues that are much needed to be addressed in order to improve the acceptability of this new technology among its users. In an effort to secure FinTech, this article provides a comprehensive survey of FinTech by reviewing the most recent as well as anticipated financial industry privacy and security issues. It provides a comprehensive analysis of current security issues, detection mechanisms and security solutions proposed for FinTech. Finally, it discusses future challenges to ensure the security and privacy of financial technology applications.

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Climate modeling is a significant tool to reproduce the observed features of present climate changes and can provide reliable estimations for future climate changes at global and regional levels. In the present study we use latest version of International Center for Theoretical Physics (ICTP) regional climate model (RegCM4.3) to examine its ability by analyzing the European Community-Hamburg atmospheric model (ECHAM5) and the European Centre for Medium-Range Weather Forecast (ECMWF) 40 years reanalysis data (ERA-40) over South Asia. Seasonal mean climatology and annual cycle are compared with different observation based data sets and also with the reanalysis and driving GCM. Two experiments are conducted for present day simulation by using ERA-40 reanalysis and ECHAM5 GCM to provide the initial and lateral boundary conditions. In spite of complex topography of the domain RegCM4.3 shows an improved performance in various aspects as compared to the earlier applications of this model over South Asia. Near surface air temperature are reproduced well over the most part of the domain. Indian monsoon precipitation patterns are better captured by RegCM4.3 as compared to the driving data set of ECHAM5 and ERA40. Simulation results show that RegCM4.3 has cold bias in winter and summer over the foothills of the Hindu-Kush-Himalaya (HKH) region. Simulation with ERA40 and ECHAM5 overestimated the seasonal mean precipitation over some part of the domain which requires further improvement in the physical parameterization scheme of RegCM4.3.

Abstract:We assessed the present and future climatologies of mean summer monsoon over South Asia using a high resolution regional climate model (RegCM4) with a 25 km horizontal resolution. In order to evaluate the performance of the RegCM4 for the reference period and for the far future (2070-2099), climate change projections under two greenhouse gas representative concentration pathways (RCP4.5 and RCP8.5) were made, the lateral boundary conditions being provided by the geophysical fluid dynamic laboratory global model (GFDL-ESM2M). The regional climate model (RCM) improves the simulation of seasonal mean temperature and precipitation patterns compared to driving global climate model (GCM) during present-day climate conditions. The regional characteristic features of South Asian summer monsoon (SASM), like the low level jet stream and westerly flow over the northern the Arabian Sea, are well captured by the RegCM4. In spite of some discrepancies, the RegCM4 could simulate the Tibetan show increased warming compared to RegCM4. The projected patterns at the end of 21st century shows an increase in precipitation over the Indian Peninsula and the Western Ghats. The possibilities of excessive precipitation include increased southwesterly flow in the wet period and the effect of model bias on climate change. However, the spatial patterns of precipitation are decreased in intensity and magnitude as the monsoon approaches the foothills of the Himalayas. The RegCM4-projected dry conditions over northeastern India are possibly related to the anomalous anticyclonic circulations in both scenarios.