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Cybersecurity for banking and fintech, tested the way attackers move money

Banks and fintech firms face phishing, ransomware and account takeovers aimed at sensitive data and transactions, and regulators expect evidence. ioSENTRIX tests your online and mobile banking, APIs, payment systems and people like a real attacker, and a retest of your fixes is included.

Talk to a financial services tester What regulators expect

Who it's forBanks, fintech companies and financial services firms

What we testOnline and mobile banking, APIs, payments, cloud and people

Mapped toPCI DSS v4.0.1, GLBA Safeguards Rule, NYDFS Part 500, SOC 2

Independently rated

★★★★★ 4.9 / 5 on G2 (12 reviews) · 5.0 / 5 on Clutch

Reviewed by Omair Manzoor, Founder & CEO, ioSENTRIX · Updated November 2026Key terms: Penetration testing, API security, PCI DSS

Trusted by security teams at

01The short answer

What does cybersecurity for banking and fintech involve?

Protecting accounts, payment flows and financial data across every channel a customer or an attacker can reach: online and mobile banking, open banking and partner APIs, payment systems, cloud infrastructure and staff. For most firms it also means evidence for PCI DSS, the GLBA Safeguards Rule, NYDFS Part 500 or customer due diligence.

The targetAccounts and transactions

Attackers want customer accounts, money movement and the data behind them.

The methodChained, manual testing

Testers chain weaknesses across channels into a proven path, including logic flaws scanners miss.

The proofProof of concept and a fix

Every finding comes with a proof-of-concept exploit and a prioritized recommendation.

Why is cybersecurity in banking different?

Even a minor breach can cause severe financial and reputational harm, and trust is the product. A strong, tested security posture becomes a competitive advantage in an industry where customers choose who holds their money.

What is fintech penetration testing?

Fintech penetration testing is an authorized, simulated attack on a financial technology product: its web and mobile apps, APIs, payment integrations and cloud. It shows what an attacker could reach and proves the impact. Read penetration testing in the finance industry.

02See it in action

One attack path across digital banking, proven then fixed

Scanners report each channel on its own. Attackers chain them. This is how one path from a mobile app to a funds transfer is found, proven and closed.

Illustrative

Mobile app

API key in the app buildStatic key for the partner API found in the Android package.Fixed: key removed, per-user tokens

Partner API

Key accepted with no user contextGET /v2/accounts/{id}Fixed: token bound to user

Account data

Another customer's balanceChanging the account ID returns any customer's data (API1:2023).Fixed: object-level check

Payments

Transfer without step-upTransfer request accepted with no second factor.Fixed: step-up authentication

✓

Retest

Same path, replayedEach step refused at the first check.Path closed

Chained finding: mobile app to funds transferCritical

OWASP MASVS · OWASP API Security Top 10 (2023) API1, API2 · Business logic

Scoping channels

ReconMobile app unpacked; partner API key recovered
ProveTest account reads a second test customer's balance
ImpactTransfer between test accounts accepted without step-up
FixFour fixes, one per step, prioritized for your engineers
RetestPath replayed end to end and refused

03What your board and examiners see

Customer data exposure, proven on test accounts
Money-movement risk, proven on test accounts
Fix owner and priority for each step
Retest evidence that the path is closed

Path statusPath not yet tested

Channels, not silos

One team tests your mobile app, APIs, web banking and payment flows together, so a weakness in one channel is followed into the next.

Impact in business terms

Findings are proven on agreed test accounts and described as what an attacker could do with customer data or money, not as a scanner score.

Closed, then proven closed

Each step gets its own fix, and the whole path is replayed in the retest to show it no longer works.

Illustrative example. The app, endpoint, path and statuses are a composite for explanation only and do not describe any client. Testing uses accounts and limits agreed in the rules of engagement.

Text version of the exhibit

Recon: testers unpack the mobile banking app and recover a static key for a partner API.
Pivot: the partner API accepts the key without any user context.
Account data: changing the account ID returns another test customer's balance (broken object level authorization, OWASP API Security Top 10 2023, API1).
Transfer: a transfer between test accounts is accepted without step-up authentication. The chained finding is rated Critical.
Fixed: four fixes, one per step: remove the key and issue per-user tokens, bind tokens to the user, add an object-level authorization check, and require step-up authentication for transfers.
Retested: the full path is replayed and refused at the first check. Board and examiner evidence: proven data and money-movement risk, fix owners and retest results.

03Threat landscape

What are the biggest cybersecurity threats in banking and fintech?

Common threats in banking and fintech, where they land, and how ioSENTRIX tests each one.

Threat	Where it lands	How ioSENTRIX tests it	Service
Account takeover	Login, password reset, MFA enrolment and mobile sessions	Authentication, MFA and session testing on web and mobile, including reset and recovery flows	Web app & API pentest
Phishing	Staff, help desk and payment approvers	Phishing simulation and social engineering of help-desk and approval processes	Social engineering
Ransomware	Internal network, endpoints and backups	Internal network testing and assumed-breach scenarios that follow the path ransomware operators take	Red teaming
API abuse	Open banking, aggregator and partner APIs	Object- and function-level authorization, token scope and rate limits against the OWASP API Security Top 10 (2023)	API penetration testing
Mobile app flaws	iOS and Android banking apps and their back ends	Local storage, secrets in the build, transport security and back-end calls, aligned with OWASP MASVS	Mobile app pentest
Payment compromise	Payment pages and the cardholder data environment	Internal, external and segmentation testing for PCI DSS v4.0.1 Requirement 11.4	PCI DSS testing
Logic flaws	Transfers, limits, onboarding and rewards	Business logic assessment that ties each vulnerability to its real-world impact on the business	Application security
Insecure design	Architecture and the development lifecycle	Architecture review, threat modeling, secure code review and DevSecOps integration	ASaaS

Applies to

Fintechs that serve banks and enterprises and are asked for a SOC 2 report

What it says about testing

No criterion names a penetration test, but CC4.1 calls for separate evaluations of your controls, and auditors usually ask for one. SOC 2 penetration testing

Orientation, not legal advice. Which rules apply depends on your charter, licenses and the data you handle. ioSENTRIX is not a PCI Approved Scanning Vendor (ASV) or Qualified Security Assessor (QSA): we perform the penetration testing and write reports your QSA, auditor or examiner can review.

05Channels

How do you test mobile and open banking security?

Channel by channel, with the standard each one is tested against.

Online banking
Web application testing for access control, session handling and business logic in transfers, limits and onboarding.
OWASP Top 10Business logic
Mobile banking apps
iOS and Android apps and the APIs behind them: secrets in the build, local storage, transport security and authentication.
OWASP MASVSiOS · Android
Open banking and partner APIs
Every endpoint tested as every caller type, so a partner or user reaches only the accounts they are entitled to.
OWASP API Top 10 2023
Payment systems
PCI DSS-compliant network penetration testing of the cardholder data environment, including segmentation.
PCI DSS v4.0.1 Req. 11.4
Cloud and core infrastructure
Cloud configuration review and internal and external network testing around core and back-office systems.
AWS · Azure · GCPNetwork
People and process
Phishing simulation, help-desk social engineering and goal-driven red team exercises, typically 4–6 weeks.
Social engineeringRed teaming

06Independently verified

★★★★★

“Unlike other providers, Omair and his team truly dive deep into our infrastructure, delivering findings that go well beyond the surface level.”

Jesus B.Cybersecurity Manager, Banking · Verified G2 review ↗

★★★★★

“The team at ioSENTRIX is professional and highly skilled at their craft.”

Awwab A.SVP, Chief Information Security Officer · Verified G2 review ↗

4.9 / 5 on G212 reviews · High Performer, Fall 2026↗

5.0 / 5 on ClutchPremier Verified↗

Penetration Testing Solution of the Year2026 CyberSecurity Breakthrough Awards↗

CREST-accredited firmPenetration testing↗

ISO/IEC 27001 certifiedOur own information security management system↗

SOC 2 Type 2 attestedOur own controls, independently examined↗

07How we help

Financial services work we can show you

Described by sector. Clients are never named.

Case study · Financial service provider

A web application secured for launch, with business logic tied to real impact

Manual and automated testing with open-source and in-house techniques
Business logic assessment that correlated vulnerabilities with real-world business impact
Critical vulnerabilities and legacy-code risks addressed; product launched on schedule

Read the case study

Services for banking and fintechCase study: AI/ML threat model for a Fortune 500 financial services companyRAG and LLM pipelines across AWS and Azure, with a prioritized remediation roadmap.Application security and code reviewArchitecture review, threat modeling, penetration testing and code review, from design to implementation.Web application and API penetration testingOnline banking and open banking APIs, typically 1–2 weeks.Red teaming and threat simulationReal-world attacks on banking infrastructure to test detection and response.PCI DSS penetration testingRequirement 11.4 internal, external and segmentation tests.Continuous threat exposure management (CTEM)Exploitability validated by people, between annual tests.

08Insights

Thinking on financial services security

July 7, 2026

PCI DSS 4.0 Penetration Testing: New Requirements for 2026

Learn the PCI DSS 4.0 penetration testing requirements for 2026, including internal and external testing, segmentation testing, remediation, retesting, and CDE scope.

June 4, 2025

FFIEC CAT Tool Retirement | Cybersecurity Self-Assessment

The FFIEC CAT tool is retiring. Explore replacements for FFIEC CAT, strengthen cybersecurity self-assessment, and transition to risk-based frameworks.

June 2, 2025

FFIEC Cybersecurity Compliance 2025 – How ioSENTRIX Ensures Your Financial Institution Stays Secure

Discover how ioSENTRIX’s services support FFIEC cybersecurity compliance through risk management, AppSec, red teaming, and DevSecOps integration.

May 30, 2025

Comprehensive Payment System Security: Application & Network Penetration Testing Solutions by ioSENTRIX

Protect your payment ecosystems with ioSENTRIX’s expert application and network penetration testing. Identify vulnerabilities and safeguard sensitive transaction data to protect your digital payment systems.

09FAQ

Banking and fintech security questions

Short answers to what security leaders at banks and fintechs ask us most.

Ask us something else

What are the biggest cybersecurity threats in banking?

Common threats in banking and fintech include account takeover, phishing and social engineering, ransomware, abuse of open banking and partner APIs, insecure mobile banking apps, attacks on payment systems, and business logic flaws in transfers and limits. Each targets sensitive data or transactions, and each needs a different test.

Does the GLBA Safeguards Rule require penetration testing?

For financial institutions under FTC jurisdiction, which includes many non-bank lenders and fintechs, yes unless you run effective continuous monitoring. 16 CFR 314.4(d)(2) then requires annual penetration testing based on your risk assessment and vulnerability assessments at least every six months and after material changes. Under 314.6, institutions holding customer information on fewer than 5,000 consumers are exempt from this paragraph.

Does NYDFS Part 500 require penetration testing?

Yes. 23 NYCRR 500.5(a)(1) requires covered entities to have their information systems penetration tested from both inside and outside the system boundaries, at least annually, by a qualified internal or external party.

Is ioSENTRIX a PCI ASV or QSA?

No. ioSENTRIX is not a PCI Approved Scanning Vendor (ASV) or Qualified Security Assessor (QSA). We perform the penetration testing required by PCI DSS v4.0.1 Requirement 11.4 and write reports your QSA can review. Quarterly external scans under Requirement 11.3.2 must come from an ASV. See PCI DSS penetration testing.

How do you test open banking and partner APIs?

We test each API endpoint as every type of caller, changing object IDs, tokens and scopes to check that a partner or user can reach only the accounts they are authorized for. Findings are mapped to the OWASP API Security Top 10 (2023), where broken object level authorization is API1. See API security.

How long does a banking penetration test or red team exercise take?

A web application penetration test typically takes 1–2 weeks and a red team exercise typically 4–6 weeks, depending on scope. You receive a written scope and timeline before testing starts.

Can we share the report with regulators, auditors and partners?

Yes. The report summarizes scope, method and results for executives, examiners and auditors, and gives engineers the proof of concept and prioritized fix for each finding. It comes from a CREST-accredited firm that is ISO/IEC 27001 certified and SOC 2 Type 2 attested.

Ready when you are

Find the path an attacker would take to your customers' accounts

Tell us which channels you run and which rules you report against. We will help you scope the right test.

Written scope and timeline before testing starts
Retest of fixes included
Reports your QSA, auditor or examiner can review

Scope your financial services test

Takes about a minute.

Cybersecurity for banking and fintech, tested the way attackers move money

What does cybersecurity for banking and fintech involve?

Why is cybersecurity in banking different?

What is fintech penetration testing?

One attack path across digital banking, proven then fixed

Channels, not silos

Impact in business terms

Closed, then proven closed

What are the biggest cybersecurity threats in banking and fintech?

Which regulations require security testing for banks and fintechs?

GLBA Safeguards Rule

NYDFS Cybersecurity Regulation

PCI DSS v4.0.1

FFIEC IT Examination Handbook

SOC 2

How do you test mobile and open banking security?

Online banking

Mobile banking apps

Open banking and partner APIs

Payment systems

Cloud and core infrastructure

People and process