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Cyber Security in Fintech

As a fintech leader, you will be aware of the technological innovation that is transforming the financial services business. Indeed, fintech is reshaping the business across the board, from banking and payments to asset management and insurance.

Overview

As more consumers and businesses embrace digital transformation, more data than ever before becomes available in digital formats, posing new security concerns for the fintech sector.

While banks and financial institutions have security challenges, fintech start-ups are particularly appealing to cybercriminals.

Keeping unencrypted data or using unprotected third-party services is a major cause for concern.

Protecting your organisation’s sensitive information, especially personal and financial data, is critical to your long-term success. 

CHALLENGES

Do these challenges sound familiar?

Avoiding unsafe coding methods in development

Detecting and responding to malware

Meeting compliance requirements such as PCI DSS and others

Overcoming data ownership issues

Balancing cyber security and data sharing

Protecting personal and financial data

$
0
m
AVERAGE COST OF A DATA BREACH IN AUSTRALIA
0
%
OF COVID-RELATED CYBERCRIME COMPROMISED FINANCIAL AND PERSONAL DATA
$
0
b
COST OF CYBERCRIME TO AUS BUSINESSES (2020)

KEY QUESTIONS

Key security questions for fintech leaders

  • Are the concepts of Secure by Design being followed?
  • How frequently are web and mobile applications evaluated for security flaws?
  • How is vital personal and financial information safeguarded?
  • Are adequate safeguards in place to detect and respond to threats?
  • In the event of a cyber breach, how would services be impacted?
  • Is payment processing in accordance with PCI DSS?

COMPLIANCE

Cyber security compliance in the fintech industry

Many fintech companies are under stress on multiple fronts as the COVID-19 pandemic continues to cause uncertainty. It required a quick transition to remote working as well as a re-evaluation of the systems and processes that had been in place for many years.

This abrupt transition has exposed the fintech industry, placing large risk on compliance as well as data and intellectual property security.

We can assist you in enhancing your data and information security to the degree required to comply with the ACSC Essential 8, Australian Privacy Principles, ISO 27001 and other security requirements. 

Need advice about compliance in fintech?

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BUILD YOUR DEFENCES

Gridware's Preventative Services

Penetration Testing

Rapidly and efficiently determine the extent to which your network and assets can defend against cyber threats by testing them against common exploits and vulnerabilities.

Network Security Penetration Testing

A form of ethical hacking that aims to validate or invalidate the efficiency of defensive network controls and determine what needs to be done to bolster them.

PCI DSS Penetration Test

Regular assessment of your organisation’s systems and processes is among the key controls mandated by the Payment Card Industry Data Security Standard (PCI DSS) to protect cardholder data.

Cyber Awareness Training

Gridware conducts information security training and workshops at your business. We provide in-house training seminars for your staff to educate on phishing prevention, social engineering and best practice cyber procedures.

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Gridware will support the improvement of your cloud network monitoring capabilities to the level needed to detect and respond to cyber threats that target cloud infrastructure, services, and applications.

Risk Audit

Our team of cyber security consultants will perform a cyber risk assessment that will identify gaps in your existing policies and procedures, and provide detailed observations and remediation plans to help achieve your most ideal state of security.

IN THE EVENT OF A BREACH

Gridware's Protective Services

Ransomware Data Recovery

In the event you are subject to ransomware, Gridware’s incident response consultants in can be logged in remotely within minutes to implement our proprietary incident response methodology.

Data Breach Investigation

Gridware will immediately assess the extent of the breach, the severity of the incident, the likely impact it will have on the business, and support your organisation through the remediation activities.

How we helped Aussie fintech leader Astute Wheel

READ OUR CASE STUDY

WHAT OUR CUSTOMERS SAY

"Having worked with Gridware for a number of years, we trust them to advise us on our security posture. Their recommendations are critical to defending us against cyber attacks."
Mark Knowlton
CTO, Openwork
"Gridware has been instrumental in building our cybersecurity and ISO procedures. Their rapid response and proactive service is critical to Trendspek's cyber strategy."
Mitchell Deam
Director, Trendspek
"Gridware has been a valuable asset to our team, providing us with the insights we need to stay ahead of emerging threats."

James Murray
Managing Director, Nikon Australia

ABOUT US

Why choose Gridware?

  • Leading AUS-based cybersecurity company
  • Fast and hassle-free service deployment
  • Agnostic approach to technology selection
  • Red and blue team CREST CSOC expertise
  • Sophisticated understanding of the fintech sector
  • Best-practice standards with a risk-based approach

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