SideGuy · Fintech compliance · reviewed 2026-06-09
In fintech, SOC 2 isn't just customer-driven — your bank and processor partners demand it as part of due diligence. And fintech buyers care about criteria most SaaS ignores: uptime and transaction correctness.
Sponsor banks, BaaS providers, and payment processors run vendor due diligence before they'll work with you, and SOC 2 is a standard ask. For fintech, the report often unblocks the partnership, not just the customer deal — which makes it foundational rather than optional.
Most SaaS scopes SOC 2 to Security only. Fintech buyers frequently want Availability (your service can't be down when money moves) and sometimes Processing Integrity (transactions are complete, valid, and accurate). Including the right criteria signals you understand the stakes.
If you touch card data you also have PCI DSS in scope. The two overlap on access control, encryption, logging, and change management — a shared evidence program serves both. PCI is prescriptive and card-specific; SOC 2 is the broader security attestation buyers recognize. PCI 3.2.1 vs 4.0 →
Scope to the product handling financial data, decide criteria with your partners' requirements in mind (Security + likely Availability), do a Type 1 to unblock, then the Type 2. If card data is involved, run PCI in parallel off the shared controls.
Sponsor banks and processors are accountable for the vendors they enable, so they run security due diligence. SOC 2 is the standard artifact that satisfies it — often a prerequisite to the partnership itself, not just to closing customers.
Security always; Availability is commonly expected (financial services can't be down when money moves); Processing Integrity when transaction correctness is core. Confidentiality/Privacy depend on your data. Decide with your partners' requirements in hand.
If you touch cardholder data, yes — PCI is required for card data, SOC 2 is the broader attestation buyers and banks want. They overlap heavily, so a shared evidence program covers both efficiently.
It adds scope (controls proving transactions are complete, valid, accurate), but for fintech it's often worth it — it's exactly the assurance financial buyers and partners are looking for.
Written by PJ Zonis · SideGuy Solutions · operator-honest, vendor-neutral · Compliance hub