SOC 2 Cost
SOC 2 Cost for Fintech
Estimate SOC 2 spend when handling payments, PII, and regulated data. Build budgets that align with bank/finserv expectations.
Cost range and timeline snapshot
- •Typical fintech first-year range: ~$45k–$120k driven by scope depth and control maturity.
- •Recurring tooling: logging/SIEM, alerting/IR, vulnerability management, vendor risk tracking.
Timeline bands
- •Readiness: 10–16 weeks if scope is defined and evidence is maturing.
- •Type I: 3–8 weeks once evidence is stable and pentest remediation is closed.
- •Type II: add 4–12 months observation with tighter sampling for regulated data.
Assumptions
- •Payment flows or sensitive PII in scope; stronger logging and monitoring expected.
- •Vendor risk and contractual controls (DPAs, subprocessors) must be documented.
- •Pentest and remediation often required before audit start.
Common scope
- •Payment processors, core banking integrations, and data pipelines.
- •Logging/monitoring, alerting, ticketing, CI/CD, source control.
- •Third-party risk program for critical vendors and subprocessors.
Top cost drivers
- •Data classification and storage/processing flows (PCI/PII).
- •Vendor and contract reviews for critical suppliers.
- •Pentest scope, remediation, and retests.
- •Observation window expectations from banks/partners.
What auditors focus on
- •Logging/monitoring coverage for payment and PII systems with alert response.
- •Change control and segregation of duties in CI/CD.
- •Vendor risk management with evidence of reviews and contracts.
- •Incident response readiness and evidence of exercises.
What changes cost most
- •Adding payment partners late in scope, triggering more walkthroughs.
- •Remediating pentest findings during audit prep (retakes, revalidation).
- •Observation window extensions due to inconsistent evidence.
Example scenarios
API-first fintech platform
Broad vendor set and payment data flows increase evidence and pentest depth; budget in upper mid-range.
Card-processing startup working with banks
Bank due diligence adds contract/vendor reviews and longer observation; higher audit and advisory time.
Data enrichment fintech with limited payments
Lean payment scope but heavy PII handling; logging/monitoring quality drives audit effort.
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