SOC 2 Checklist for Fintech
Fintech companies face higher scrutiny from auditors and bank partners. Your SOC 2 needs to prove you handle money and sensitive financial data with ironclad controls.
Critical FINTECH Controls
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Complete SOC 2 Checklist
Broken down by compliance domain for Fintech teams.
Data Security & Encryption
- All database volumes encrypted with AWS KMS or equivalent.
- TLS 1.2+ enforced for all public and internal endpoints.
- Production secrets stored in managed vaults (Secrets Manager), not in code.
- PII fields obfuscated or encrypted at the application level.
Access & Identity Management
- MFA enforced for all employees and contractors.
- Automated employee offboarding synced with HRIS.
- Quarterly access reviews for production databases and code repos.
- Least-privilege IAM roles for all service accounts.
Change Management & SDLC
- Mandatory peer reviews (PRs) for all production code changes.
- CI/CD branch protection preventing direct pushes to main.
- Automated dependency scanning (Dependabot/Snyk) in every build.
- Separate staging and production environments with no data leakage.
Evidence pack to prepare
- •Access review records with approvals
- •Change management tickets with reviewers
- •Incident response runbooks and recent drills
- •Vendor risk assessment summaries
- •System inventory and data flow diagrams
Fintech audit timeline
- 1.Week 1–2: Define scope and control owners
- 2.Week 3–5: Implement evidence collection workflows
- 3.Week 6–8: Run internal readiness review
- 4.Week 9–12: Complete auditor fieldwork and remediation
Common Fintech Pitfalls
Poor separation of duties between developers and those with production access.
Incomplete vendor risk assessments for critical subprocessors (e.g., Plaid, Stripe).
Failure to document manual financial reconciliation processes as security controls.
Using production data in staging or development environments.
Raphael N
Head of Compliance Strategy
Raphael leads go-to-market compliance strategy for high-growth SaaS and AI teams. With over a decade of experience across Big Four firms and fintech startups, he specializes in translating complex SOC 2 requirements into automated, engineering-friendly workflows.
Frequently Asked Questions
What is the first step in SOC 2 Checklist for Fintech?
The first step is conducting a gap analysis to understand your current security posture relative to SOC 2 requirements. This identifies what controls you already have and what needs to be implemented.
How long does SOC 2 Checklist for Fintech typically take?
For most mid-sized companies, the process takes 3-6 months. This includes 2-3 months for readiness prep and control implementation, followed by the audit period and report generation.
What are the core requirements for SOC 2 Checklist for Fintech?
Core requirements include established security policies, evidence of operational controls (like access reviews and vulnerability scans), and documented risk management processes aligned with SOC 2 standards.
Can we automate SOC 2 Checklist for Fintech?
Yes, compliance automation platforms can reduce manual effort by up to 80% through continuous evidence collection and automated control monitoring. However, you still need to define and own the underlying security processes.
About RiscLens
Our mission is to provide transparency and clarity to early-stage technology companies navigating the complexities of SOC 2 (System and Organization Controls 2) compliance.
Who we serve
Built specifically for early-stage and growing technology companies—SaaS, fintech, and healthcare tech—preparing for their first SOC 2 audit or responding to enterprise customer requirements.
What we provide
Clarity before commitment. We help teams understand realistic cost ranges, timeline expectations, and common gaps before they engage auditors or expensive compliance vendors.
Our Boundaries
We do not provide legal advice, audit services, or certifications. Our assessments support internal planning—they are not a substitute for professional compliance guidance.
SOC 2 (System and Organization Controls 2) is a voluntary compliance standard for service organizations, developed by the AICPA, which specifies how organizations should manage customer data based on the Trust Services Criteria: security, availability, processing integrity, confidentiality, and privacy.
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