Start-Up Bank : Security Controls Assessment and Remediation
Challenge
Our client, a finance provider, sought to expand their services by obtaining a banking license.
However, they lacked the experience and specialist knowledge needed to ensure they were able to meet the necessary security control requirements and satisfy the regulatory baseline.
Approach
Broadgate conducted a cyber and data security assessment of their current state using our methodology which identified both gaps and maturity levels against industry peers.
We reviewed the results with the client leadership team, identified risks in controls, and provided an FCA compliant remedial plan to address gaps.
Outcomes
Our assessment provided a clear risk-based representation of the security maturity level of the organisation and identified ‘quick wins’.
This helped to form a priority driven roadmap, which enabled the company to pass the security requirements of the banking application.
In addition, our methodology provided a baseline from which our client was able to implement a continuous improvement process.