By Industry · Financial Services
GRC where one control answers to a dozen regulators
Banks, insurers, asset managers, and fintechs face more overlapping security rules than any other industry, from PCI DSS and NYDFS to DORA and GLBA, backed by regulators with real teeth and breach costs among the highest anywhere.
The landscape
Rules on top of rules
No industry carries more security regulation than financial services. In the US alone, NYDFS Part 500 has become a de facto national standard, mandating a CISO, MFA, encryption, and 72-hour incident reporting; PCI DSS 4.0.1 governs every organization that touches card data; the GLBA Safeguards Rule protects customer information; and FFIEC guidance shapes how examiners assess it all. In Europe, DORA now demands operational resilience and four-hour incident reporting. And underneath all of it, SOC 2 and ISO 27001 are what partners and customers expect.
The pressure does not stop at your own walls. NYDFS, PCI DSS, and DORA all now demand active, ongoing oversight of every third party with access to your systems. Between the regulators, the frameworks, and the vendors, a financial institution can end up answering the same question a dozen different ways.
Why it is hard
The audit never ends
A single institution can face NYDFS, PCI, SOC 2, and internal audit in the same year, each asking about the same controls, MFA, encryption, access, incident response, in its own format. Managed separately, that is the same evidence assembled again and again, a calendar full of overlapping exams, and a third-party program that has to satisfy several regulators at once.
The result is audit fatigue: teams spending more time proving controls than improving them, in a sector where a breach now costs millions and the number of incidents keeps climbing.
How SimpleRisk fits
One control library, every obligation
SimpleRisk treats the financial rulebook the way it should be treated: as one connected set of controls, mapped once and proven to whichever regulator, examiner, or customer is asking.
- Map once, satisfy many. Through the Secure Controls Framework, one control maps across NYDFS, PCI DSS, GLBA, DORA, SOC 2, and 250-plus frameworks, so you test once and satisfy many at the same time.
- Answer every exam once. Keep your controls and evidence in one place, so the next NYDFS exam, PCI assessment, or SOC 2 audit is a lookup, not another fire drill.
- Bring third parties into the same program. Track vendor and ICT-provider risk against the same controls the regulators care about, instead of a separate spreadsheet.
- Prove it on demand. Define tests, run audits at the framework, control, or test level, and hand any examiner exactly the evidence it expects.
Answer every regulator from one platform
Start a free trial or book a demo, and see how SimpleRisk maps your controls across every framework a financial institution has to answer to.
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