Challenge

Paystrax is a financial technology company that handles the entire electronic transaction process for merchants selling goods or services across Europe. For easier and more secure services, the company has been using SWIFT. Since July 2020, all SWIFT users have been required to carry out an independent assessment when attesting compliance with CSP controls. In order to be compliant and have better visibility of their controls, Paystrax has asked NRD Cyber Security to perform a SWIFT assessment.

Services provided

  • SWIFT assessment based on questionnaire answers and evidence provision
  • Recommendations on improving cybersecurity posture

Impact

After the assessment, Paystrax was able to identify where risk drivers from the SWIFT CSP are, or are not, met. The organization was provided with a clear and concise report, which gives insights and advice on how to strengthen organization’s cybersecurity. The assessment has also worked as an audit of how well-functioning are the organization’s security controls.

Rokas Muraška, Chief Security and Risk Officer at Paystrax

"As a financial institution which is taking security very seriously we were looking not just for the service provider to do a SWIFT independent assessment but more like for a partner which could do an extra mile for us. By choosing NRD Cyber Security we have got a comprehensive report and recommendations and on top of that we have received advice on improving cybersecurity measures in other areas of our business, which helped us to strengthen our overall security posture."

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