Cynopsis Achieves ISO/IEC 27001:2013 Certification – Assuring The Highest Information Security Level
We are proud to announce that Cynopsis Solutions has recently achieved International Organization for Standardization (ISO) 27001:2013 Certification, the globally recognised standard for Information Security Management Systems (ISMS). This marks an important milestone for Cynopsis Solutions as security of our web applications remains front and center of what we do.
Attaining the ISO 27001:2013 certification reflects Cynopsis Solutions’ ongoing effort to ensure the standard of our information security systems is benchmarked against the international industry best practices. This latest certification added to our accolades promises our clients the highest standard of information security management as we constantly prioritise their interest in keeping their data secure. After completing an extensive preparation and audit process over a 9 month period, the ISO 27001:2013 certification was issued by TÜV SÜD, a global provider of auditing and certification services.
As a globally trusted RegTech solutions provider with many of our clients operating in highly regulated industries, the certification demonstrates our commitment to ensure that our clients’ critical business information is well-protected from potential threats and data security breaches that are often a result of poor information security practices. We believe that this will bring greater assurance to our clients that they will continue to remain compliant to the ever-increasing regulatory requirements in respect of technology risk management, cyber hygiene practices and outsourcing controls.
“At Cynopsis Solutions, we believe that as we provide regulatory technology products to our clients who are typically in highly regulated industries, we are obliged to benchmark and maintain to international best practices where information security management systems are concerned. Hence, we took the initiative to embark on this ISO 27001 journey since 2019. It wasn’t an easy process but we are very glad that we have done it as we strongly believe it is the right thing to do as it ultimately benefits all our clients globally”, noted Mr. Chionh Chye Kit, CEO & Co-Founder of Cynopsis Solutions.
What Does The ISO 27001:2013 Certification Mean For Our Clients?
The acceleration of digitisation in today’s highly interconnected world meant that information security has become increasingly important. Selecting the right KYC vendor is definitely a daunting task because getting it wrong can have severe regulatory repercussions.
Here are 4 key reasons why ISO 27001:2013 certification matters when you select your next KYC Vendor.
1. Provides reliability and security of our system and information
As cyberattacks are getting increasingly common, achieving the ISO 27001:2013 certification demonstrates that we meet the necessary requirements to protect our clients’ sensitive information from getting into unauthorised hands.
Working together with a vendor that complies to ISO standards, you can also be assured that we follow a standard set of procedures to perform vigorous risk assessments, minimising the risk of a security breach and mitigating the impact of such data breaches.
2. Ensures ongoing compliance with Business, Legal, Contractual & Regulatory requirements
As a leading RegTech company, we place compliance with prevailing laws and regulations front and center of everything we do. The ISO 27001:2013 certification is evidence of our commitment to be compliant with world-class information security standards as well as relevant legislations.
There are many suppliers of RegTech solutions in the world and certainly no one is equal. We believe that Cynopsis Solutions is leading the way in handling our clients’ data in a highly secured manner that is benchmarked to international standards.
3. Ensures ongoing improvement to keep our products up-to-date with the latest protection
Cynopsis Solutions takes pride in continuously improving our product offerings. Annual external audit process and ongoing internal audits and policy reviews are conducted, as part of our continual evaluation and improvement of the Information Security Management System (ISMS).
It may be relatively straight forward for any vendor to build web applications and sell that to clients for subscription. However, it is a much harder mile for the vendor to continuously subject itself to a rigorous audit and re-certification process that ensures the right outcomes are achieved where information security is concerned.
4. Shorter time for second-party security audit of our system
With Cynopsis Solutions being ISO 27001:2013 certified, it will significantly shorten the time required to complete your company’s audit. Processes and time needed to complete IT security questionnaires required by the auditors will be reduced, making your company’s auditing journey a smoother and more efficient one.
About Cynopsis Solutions
Founded in 2014 and headquartered in Singapore, Cynopsis Solutions offers RegTech solutions designed to digitise and automate Compliance and regulatory processes, in particular know-your-customer, anti-money laundering, and counter-terrorism financing. Cynopsis Solutions’ accolades include MAS FinTech Awards (2018), RegTech100 (2018, 2019) and Financial Times Top 50 High Growth Companies in Asia-Pacific.
Our end-to-end KYC/AML solutions are designed according to the global FATF recommendations, applicable to more than 180 jurisdictions and is already helping more than a thousand B2B customers in the Banking, Financial Services, FinTech and Cryptocurrency, Professional Services and Gaming sectors globally.