Fintech Festival India Awards: Wibmo Wins “Exceptional Adoption of Cyber Security Solutions in Fintech” Award
The company has added this accolade to its proud journey on the back of its flagship Wibmo Security Framework
Wibmo currently holds PCI-DSS, PCI-3DS, ISO27001, ISO27701 and SOC2 Type II certifications, demonstrating an unmatched level of resilience and customer/stakeholder services
Digital payment solutions company, Wibmo – A PayU Company – has recently received the ‘Exceptional Adoption of Cyber Security Solutions in Fintech’ award. The company won this feat at the recently held Fintech Festival India Awards organized as part of the Fintech Festival.
Wibmo’s win is attributed to its outstanding technology integration, innovative solutions and advanced growth strategies to boost the development of banks, fintech institutions and businesses. The flagship, the Wibmo Security Framework, was one of the main highlights of the awards night.
The Wibmo Security Framework, a unique security foundation, is based on NIST, GDPR, ISO, PCI-DSS, SOC2 and other relevant industry standard frameworks. It perfectly aligns with the Wibmo Enterprise Risk Management framework, which is embedded with layered security controls to effectively protect customers’ data and information. In addition, the framework includes physical access control followed by robust logical perimeter security accompanied by DMZ. It also consists of implemented firewalls in failover mode integrated with IDS and IPS.
Apart from these features and implementations, Wibmo Security Framework also boasts CyberArk (for privileged access management), SISA SIEM tools (for continuous monitoring of potential threat vectors) and Hardware Security Module (HSM) tools (for encryption and decryption of PCI sensitive data). Wibmo has a robust Cyber Incident Management Response mechanism to ensure rapid recovery from any threat vector.
Pravin Kumar, CISO- Wibmo, a PayU companysaid, “It takes years to build a reputation and a few minutes of cyber incidents to destroy it. In the fintech industry, technology/platform trust is a good thing. But continuously strengthening your control is better. At Wibmo, we always put ourselves in the customer’s shoes and listen to data security and privacy concerns and take all necessary steps to earn their trust.”
“We are now one of the most secure and compliant fintech companies, creating a sustainable competitive advantage to grow the business, increase productivity and win the trust of existing and potential customers. As CISO, my job is to streamline, harmonize and spread cyber security and cyber hygiene throughout the organization and this award shows that we are on the right track. Thank you, FFI, for this highly recognized award”, he added.
Baldeep Singh Pahwa, Managing Director and India Country Manager, Constellar Exhibitions Indiasaid, “We have been trying to put India’s emerging fintech ecosystem at the forefront and let the world notice its vast capabilities. Over the past year, we have had several interesting discussions on payments, security, blockchain, etc. As we come for the final leg of Fintech Festival India, we want to celebrate the amazing achievements of some of the country’s most promising companies through our fintech awards. Congratulations to all the winners and best wishes to all the participants. Through these fintechs and many more, India will soon emerge as the focal point of the global fintech ecosystem.”
It is appropriate to mention that over the years Wibmo has acquired several certifications such as PCI-DSS, PCI-3DS, ISO27001, ISO27701 and SOC2 Type II. These certifications effectively exemplify the company’s highest level of resilience and seamless services to its customers and stakeholders. In addition, it has been recognized as a Global Data Privacy Regulation (GDPR) ready organization.
About Wibmo:
Wibmo Inc., a Cupertino, California company, is a subsidiary of PayU. It is a global full-stack PayTech company, an industry leader in payment security and digital payments in emerging markets, working with 130+ banks in 28 countries. The company is the largest provider of authentication services in India, one of the world’s leading digital payment markets. It also offers fraud and risk management solutions, mobile payments, prepaid solutions and a range of merchant and procurement services.
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