• Assessments

About Our Digital Banking Assessments

Our Digital Banking Assessments practice works with organizations that operate in the digital banking sector and have to manage cybersecurity, technology debt, cyber-liability, audit, and governance risks. Our 20+ years of experience has proven that an effective way to manage these risks is for an organization to retain an independent third-party firm to assess the maturity and level of these risks.

Our Digital Banking Assessment team comprises former regulators, chief privacy officers, chief security officers, and compliance officers with a wealth of expertise and experience in digital banking. In addition, our team members have worked with dozens of financial institutions around digital banking, often alongside senior leadership, and board members on a wide range of issues. Our team members have been involved in providing input to some of the key guidance in the market today including guidance from DFS, Federal Reserve Central Bank Digital Currency (CBDC), and the Monetary Authority of Singapore.

Our Services

Decades of collective experience doing cybersecurity. And of course working out of the box and solving problems.

Financial Institutions Assessments Risk-Based Cyber Security AssessmentCompliance AssessmentAML & KYC Source of Funds Audits

Financial Institutions Assessments

  • Work with financial institutions to develop appropriate regulatory and compliance frameworks that account for the rapidly changing technological environment that digital banking has introduced to the financial sector.  
  • Collaborate with financial institutions to identify high-level and operational risk factors unique to cryptocurrency and digital banking and present these findings to senior leadership.  
  • Engage with financial institutions to modify, develop, or review technologies, processes, and controls focusing on illicit financial activity.   
  • Conduct rigorous strategic evaluations related to digital banking systems, products, and services that underline an organization’s banking operations.
digital banking assessments

Risk-Based Cyber Security Assessment

  • Assess an organization’s existing Information Technology (“IT”) controls and gaps against relevant cybersecurity frameworks, best practices, and regulatory requirements. Provide recommendations for improving the organization’s cybersecurity posture, mitigating risks, and minimizing exposure.  
  • Perform an independent third-party evaluation of the efficiency of institutions’ Security, Risk, and Audit functions concerning managing information technology and cybersecurity risks across the organization. 
digital banking assessments
digital banking assessments

Compliance Assessment

  • Conduct FATF VASP INR15 readiness assessments (AML/KYC/CTF).  
  • Consult financial institutions to ensure that they meet regulatory compliance standards specific to cryptocurrency exchanges, custodians, and other related services.
digital banking assessments

Anti-Money Laundering (AML) and Know Your Customer (KYC) Services

  • Work with financial institutions to identify risk categories and reduce income-generating practices that derive from illegal activities. 
  • Develop and leverage reliable protocols and controls to keep financial organizations‘ risks compliant with regulatory expectations. 
  • Perform an in-depth analysis of financial organization‘s activity to deter criminals from using legitimate financial services for money laundering purposes.
digital banking assessments

Source of Funds Audits

  • Conduct an independent audit into the source of cryptocurrency funds using our proprietary investigation tools, technologies, and relationships with other solution providers.  
  • Review and develop controls and protocols for receiving cryptocurrency deposits of all sizes, to ensure a financial institution receives them appropriately. 
50

Companies audited

100s of millions

Crypto funds sourced

20

Companies Assisted with compliance assessments

Dozens

of Risk-based cybersecurity assessments performed