Finch receives ASAE 3150 accreditation
ASAE receives 3150 accreditation
This accreditation allows Finch to operate as an Outsourced Service Provider to Accredited Data Recipients (ADRs)
ASAE 3150 Information Security accreditation covers all of the CDR Schedule 2 security requirements
Financial technology and data intelligence company Finch, today has announced their ASAE 3150 accreditation.
This enables Finch to provide Accredited Data Recipients (ADRs) with advanced data intelligence solutions helping ADRs deliver on the Open Banking promise of greater choice and personalisation for customers. This accreditation allows Finch to operate as an Outsourced Service Provider to Accredited Data Recipients (ADRs) meeting all the security controls required to work with CDR data.
Your CDR data partner
While Open Banking will introduce new levels of data access and control, low quality transaction data can be a challenge when trying to understand a customer’s financial position, spending behaviours and risk profile.
With over 200 million customer transactions enriched for clients every month, FinchXP’s Open Banking Solution leverages over $30 billion of transactional data intelligence to enrich raw transaction data for real-time categorisation, personal finance, affordability, insurance and financial assessment for a wide range of use cases.
The ASAE 3150 Information Security accreditation covers all of the CDR Schedule 2 security requirements, including over 24 prescribed security controls such as multi-factor authentication, firewalls, protections against malware and data leakage, and related business processes around user access and systems monitoring.
Finch will be audited annually to ensure compliance with Schedule 2 information security controls, as set out per CDR Rules Privacy Safeguard 12.
Data quality is key
Data quality is at the core of all personalisation.
“Open banking is a great opportunity to win new customers and make a great first impression with competitive and personalised experiences.”
“While many are looking to leverage transaction data to understand their customer’s financial behaviours, low quality data makes it difficult to extract meaningful insights. We are excited to support ADRs with advanced data science capabilities that will help them deliver on the level of personalisation consumers will expect from Open Banking.”