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Finbridge Global partners with i-confidential to Launch New InfoSec Badge for Fintechs
September 2024 by Marc Jacob
Finbridge Global announced the launch of its new InfoSec Badge, which is released in partnership with cyber security and risk consultancy, i-confidential. The collaboration marks a significant step forward in simplifying and streamlining the information security compliance process for fintech companies looking to partner with financial institutions.
A Game-Changer for Fintech Security Compliance
Information security compliance is essential for fintech companies to demonstrate that they can securely handle sensitive data and meet regulatory requirements. Currently fintechs are required to respond to numerous, often repetitive, security assessments from financial institutions, which is often an inefficient and time-consuming process.
The new InfoSec Badge solves this problem. With a standardised security framework, fintechs can now undertake a single, comprehensive assessment, developed by i-confidential, that meets the needs of multiple financial institutions. This tested and validated approach significantly reduces redundancy and speeds up the onboarding process.
The assessment asks questions on governance, risk management, and technical controls, and it can be used by fintechs to demonstrate to financial organisations that they practice good cyber hygiene and prioritise cyber resilience. This is increasingly important in the financial sector, with upcoming regulatory compliance, such as DORA, focusing heavily on the resilience of third parties.
Unlocking the Badge on Finbridge Global
The new InfoSec Badge is now available on the Finbridge Global platform. Existing fintechs can easily unlock it through their badge profile, while new fintech companies can register, complete their initial FinBadge, and then unlock the InfoSec Badge.
Support and Guidance Available
Finbridge Global and i-confidential are also offering support for fintechs throughout the assessment process. For companies working toward full compliance, guidance and assistance will be available to discuss results and help navigate the path to security readiness.
