Plaid launches security portal

Friday 24 February 2023 14:21 CET | News

Data network Plaid has announced the launch of a security portal to help partners and customers accelerate their cybersecurity due diligence efforts and make informed decisions.


From the launching point onward, the company is set to update the Security Portal  in a regular manner with the most up-to-date information in regard to their security practices, audit reports, certifications, and other related documents.

Details on the security portal and what it entails for due diligence

As Plaid collaborates with over 8,000 customers and 12,000 data partners to foster innovation within the fintech ecosystem, building trust is believed to be critical, however at such a scale, providing support for cybersecurity due diligence reviews can be inefficient and time-consuming for everyone. 

Due to the fact that diligence initiated by Plaid’s partners takes place at various times throughout the year, predominantly during procurement, the security portal aims to ensure a ‘frictionless’ procurement process, while also addressing the expectations of Plaid customers and partners.

Following the launch of the security portal, the company is looking to simplify how its partners within the fintech ecosystem understand and verify its security posture. To be able to address due diligence requirements at scale and with increased speed and accuracy, Plaid is providing access to a multitude of information and documents relating to security in a centralised repository, which include:
  • SOC2 Type2 reports;

  • ISO27001 & ISO27701 certificate;

  • penetration testing results;

  • standard prefilled vendor questionnaire;

  • cyber insurance;

  • and policies, amongst others.

Being a public-facing security portal, it can be leveraged for the efficient distribution of various security artifacts which are commonly requested and used during cybersecurity due diligence efforts.

Data network Plaid has announced the launch of a security portal to help partners and customers accelerate their cybersecurity due diligence efforts and make informed decisions.

As detailed in Plaid’s announcement, the security portal can be used for:
  • Access to public security collateral. Plaid has documentation such as its ISO certificate and standard prefilled vendor security questionnaires that can be obtained without requesting (gated) access to the portal.

  • Access to private security collateral. Customers and partners can request and obtain access to confidential security documents in a timely manner following an undergoing of auto-approval conditions instated by the company. Should these conditions not be met, the security team is issued an alert to approve the access request manually.

  • Questionnaire support. Customers and partners alike are enabled access to a repository of frequently asked questions through the Plaid knowledge base and ‘Security Domain Tiles’.

  • Subscription. Customers and data partners can subscribe to the security portal and receive real-time updates that include both new security compliance documents and Plaid’s response to security events.

As per the announcement, the security portal aims to be a place where customers and partners alike gain an understanding and assessment of Plaid’s practices and policies that are in place to secure data.

A digital finance enabler, Plaid’s Open Banking network and payments platform can be leveraged for building fintech products and services and onboarding customers, having more than 7,000 companies using its solutions to simplify how customers connect and carry out payments from their accounts.

For more information about Plaid, please check out their detailed profile in our dedicated, industry-specific Company Database.

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Keywords: product launch, data sharing, data analytics, cybersecurity, CDD, fraud platform, online fraud, online security, ISO, e-procurement, certification, fintech
Categories: Fraud & Financial Crime
Companies: Plaid
Countries: World
This article is part of category

Fraud & Financial Crime


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