Finbridge Global, the leading global platform that enables financial institutions and investors to search, compare, and assess fintech companies at the product level, is excited to announce 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.
"Our partnership with i-confidential has allowed us to create a highly effective solution to tackle an industry-wide challenge," said Barbara Gottardi, CEO and founder of Finbridge Global. "The InfoSec Badge enables fintechs to showcase their security readiness while helping financial institutions conduct due diligence more efficiently. Having worked with Colin Fraser, a co-founder of i-confidential and renowned financial CISO, I didn’t have any doubt when selecting his company as a partner for us."
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.