SOC 2 for Fintech
SOC 2 compliance for fintech companies — why it matters, which trust service criteria apply, and how to get audit-ready.
Key Trust Service Criteria
- →Security (CC6–CC9)
- →Availability (A1)
- →Confidentiality (C1)
Industry-Specific Risks
- ✗PCI-DSS intersection
- ✗Open banking API exposure
- ✗Real-time payment data at rest
Financial technology companies face a unique SOC 2 environment. Enterprise banks, insurance carriers, and institutional investors require SOC 2 Type II as a baseline before any data-sharing or API integration agreement is signed. Without it, fintech deals stall at procurement.
The Security trust service criteria (CC1–CC9) form the baseline — logical access controls, encryption at rest and in transit, change management, and incident response. For fintech specifically, the Availability criteria (A1) matters because even brief downtime translates to failed transactions and direct revenue loss. If your platform handles loan data, trading signals, or account balances, the Confidentiality criteria (C1) becomes mandatory.
Fintech companies must also address the PCI-DSS intersection. While SOC 2 and PCI-DSS are separate frameworks, auditors will ask how cardholder data flows relate to your SOC 2 system boundary. Narrow your system boundary carefully to exclude PCI scope where possible.
Common fintech SOC 2 gaps: MFA not enforced on internal admin tools, audit logs missing for privileged access events, no formal vendor risk assessment for payment processors, and no DR test documented in the last 12 months.
The Korrali Trust SOC 2 Readiness Checklist takes 5 minutes and shows exactly which controls you're missing before you engage an auditor.
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Free 5-minute self-assessment — score your Fintech controls against the 23 most-tested SOC 2 criteria.
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