Client
A rapidly expanding fintech company that provides digital payment solutions for consumers and businesses, managing vast amounts of financial data and processing sensitive transactions globally.
Challenge
As the fintech company scaled, they recognized the need for strategic cybersecurity leadership but lacked the internal resources to hire a full-time Chief Information Security Officer (CISO). Their challenges included:
- Absence of Executive Cybersecurity Leadership
The company lacked high-level, strategic direction for cybersecurity initiatives and decision-making, leading to fragmented security efforts. - Managing Security Risk in a Regulated Industry
Operating in the financial sector, the company faced regulatory scrutiny and needed to ensure compliance with strict standards, such as PCI DSS, GDPR, and SOC 2. - Implementing a Cybersecurity Strategy at Scale
As the company expanded its operations globally, it struggled to scale its security policies, controls, and risk management strategies to meet the evolving threat landscape. - Security Governance and Stakeholder Alignment
The company needed to strengthen its governance framework and ensure cybersecurity was aligned with business objectives and executive priorities.
Solution
The fintech company partnered with COE Security to implement vCISO Services, gaining executive-level cybersecurity leadership without the overhead of hiring a full-time CISO. COE Security provided strategic guidance, risk management, and compliance expertise to drive the company’s cybersecurity maturity.
Phase 1: Strategic Cybersecurity Assessment and Gap Analysis
- Conducted a high-level assessment of the company’s cybersecurity posture, identifying critical vulnerabilities and gaps in governance, compliance, and risk management practices
- Developed a tailored cybersecurity strategy aligned with the company’s business goals, growth trajectory, and regulatory requirements
- Presented a roadmap for improving cybersecurity maturity, including recommendations for enhancing security controls, incident response, and risk management
Phase 2: Executive Cybersecurity Leadership
- Acted as the company’s virtual CISO, providing ongoing leadership and strategic direction for cybersecurity initiatives
- Worked closely with senior executives to align cybersecurity strategies with business objectives and ensure the integration of security into the company’s decision-making processes
- Developed and presented regular reports to the board and key stakeholders, outlining security risks, compliance status, and progress on strategic initiatives
Phase 3: Compliance and Risk Management
- Led efforts to achieve and maintain compliance with key regulatory standards, including PCI DSS, GDPR, and SOC 2, by implementing necessary controls and conducting regular audits
- Developed risk management policies and procedures to identify, assess, and mitigate risks across the organization, including third-party risks
- Provided ongoing guidance to ensure the company met evolving regulatory requirements and prepared for audits
Phase 4: Incident Response and Security Maturity
- Established a comprehensive incident response plan, ensuring the company could quickly detect, respond to, and recover from security incidents
- Conducted tabletop exercises and simulated cyberattacks to test the company’s response readiness and improve internal coordination
- Continued to evolve the company’s security posture by recommending advanced technologies, such as endpoint detection and response (EDR), and integrating emerging best practices into the organization’s cybersecurity framework
Results
With COE Security’s vCISO Services, the fintech company achieved:
- Executive-Level Cybersecurity Leadership
Gained strategic cybersecurity leadership without the cost of hiring a full-time CISO, ensuring alignment with business goals and regulatory requirements - Regulatory Compliance and Audit Readiness
Successfully met and maintained compliance with industry standards such as PCI DSS, GDPR, and SOC 2, ensuring trust with clients and partners - Improved Risk Management
Developed a robust risk management framework, allowing the company to identify and address risks proactively - Enhanced Incident Response
Strengthened incident response capabilities, reducing the impact of potential security breaches and improving recovery times
Client Testimonial
Partnering with COE Security for vCISO Services has been transformative for our cybersecurity strategy. Their executive leadership has provided the direction and expertise we needed to ensure our security posture aligns with our business goals and regulatory requirements. COE Security’s proactive approach and strategic insights have helped us manage risk effectively and stay ahead of evolving threats.