# Cybersecurity Service for Fintech Companies 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 $ 8 0 1 2 3 4 m Average cost of a data breach in Australia 8 0 1 2 3 4 5 6 7 8 0 3 7 0 4 7 0 4 7 1 4 8 1 4 8 1 5 8 1 5 8 2 5 % Of Covid-related cybercrime compromised financial and personal data $ 8 0 1 2 3 8 0 2 3 5 6 8 9 1 2 4 5 7 8 0 1 3 4 6 7 9 0 2 3 bn Cost of cybercrime to Aus Businesses (2020) ## Key Questions Key security questions for finance providers ### Are the concepts of Secure by Design being followed? ### Are adequate safeguards in place to detect and respond to threats? ### How frequently are web and mobile applications evaluated for security flaws? ### In the event of a cyber breach, how would services be impacted? ### How is vital personal and financial information safeguarded? ### Is payment processing in accordance with PCI DSS? ## 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](https://www.data3.com/solutions/security/acsc-essential-eight/), [Australian Privacy Principles](https://www.oaic.gov.au/privacy/australian-privacy-principles), [ISO 27001](https://www.iso.org/standard/27001) and other security requirements. ## Build your defences ### 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. [Learn more](/content/penetration-testing/index.html) ### 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. [Learn more](/content/penetration-testing/pci-dss-penetration-testing/index.html) ### Cloud Security Audit 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. [Learn more](/content/services/cloud-security-audits/index.html) ### 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. [Learn more](/content/penetration-testing/network-security-penetration-testing/index.html) ### 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. [Learn more](/content/cyber-security-awareness-training/index.html) ### 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. [Learn more](/content/cyber-risk-audit/index.html) ## Gridware's Protective Services ### Ransomware Data Recovery In the event you are subject to ransomware, Gridware’s incident response consultants 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. ## What Our Customers Say 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 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 a valuable asset to our team, providing us with the insights we need to stay ahead of emerging threats. James Murray, Managing Director Niko Australia ## Speak to an Expert Today Speak to a professional today and get a quote for our penetration testing service. ## Insights Gridware is proud to be a thought-leader in cybersecurity, creating and leading conversations in this space. Check out a selection of our published work from our Sydney based Cyber Defence Centre (CDC), and learn how our cyber expertise has led to partnerships with leading Australian Universities.