How Paidy is securing the future of fintech through a strategic alliance with OffSec

About Paidy

Paidy, a leading BNPL provider in Japan, optimized for mobile and instant checkout, allows consumers to buy online without a credit card or pre-registration. Leveraging proprietary technology to score creditworthiness, underwrite transactions, and guarantee payment to merchants, the Paidy app is downloaded by more than 10 million people. Paidy helps vendors increase their conversion rates, average order values, and repeat purchases.

Challenges:

• The team lacked specialized hands-on skills 
• Requirement for a proven skill-certification program
• Essential to align with rapid, secure software development and emerging threats

Solution:

• OffSec's recognized training expertise
• Practical, hands-on skill demonstration
• Content consistently updated for current trends
• Intuitively organized learning platform and management dashboard
• Real-time application through labs and exercises

Benefits:

• Ongoing skill enhancement for the team
• Tangible ROI from training recognized by leadership
• Team equipped for swift critical analysis
• Consistent, methodical software development and assessment at Paidy

The importance of cybersecurity for fintech companies

Financial apps collect and store all kinds of personal and financial information, such as online transaction histories, credit card pins, personal details, invoices, payment methods used, etc. By containing such data, they are an attractive target for hackers and criminals. In today’s rapidly evolving digital landscape, safeguarding transactions and sensitive user information is crucial for online payment providers like Paidy. The integrity and reputation of such platforms heavily depend on their cybersecurity measures. Yet, Paidy faced a few key challenges.

Previously, Paidy's approach to cybersecurity training was heavily compliance driven, rather than skills driven. Employees had to rely on ad hoc training sessions, which are difficult to measure ROI for the business. This resulted in a patchwork of knowledge that, while valuable in isolated instances, needed more cohesion and depth required for comprehensive security.

Furthermore, a testimony to the quality and competence of a cybersecurity professional often lies in their certifications, which can complement their hands-on experience. Certifications are not just symbols; they represent a standard of knowledge and expertise. Although many Paidy cybersecurity staff hold bachelor's and masters degrees from reputable universities, as well as well-known industry cybersecurity certifications, a gap still exists for offensive security skillsets.

This raised concerns about the uniformity and depth of their team’s proficiency in dealing with advanced cybersecurity threats.

And merely having knowledge and certification isn’t enough. Paidy needed a robust training program that would not only impart skills but also prove them. Such a program would instill confidence in both the internal team and their clientele, assuring them that Paidy's cybersecurity measures are top-notch.

To address these challenges, a partnership with a leader in cybersecurity training was not just preferable; it was imperative. This led to Paidy's collaboration with OffSec, a renowned name in cybersecurity training and certification.

Solution

For Paidy, a leader in deferred online payment services, ensuring their systems and software are impenetrable to cyber threats is not just a priority, but the backbone of their business ethos. This is where the partnership with OffSec, the foremost authority in cybersecurity training, becomes transformative.

“When we asked our team what training they wanted to take, it was a unanimous vote for OffSec. So OffSec was the first training provider that brought a formalized program to Paidy.” Jeremy

1. The gold standard in cybersecurity training: Paidy understood the importance of not just having a secure system, but ensuring its employees are equipped with the latest knowledge and skills. OffSec, with its sterling reputation as a training provider, became their go-to choice. The partnership promised a fusion of theory and practice, ensuring that Paidy's staff could tackle real-world challenges effectively.
2. Beyond theoretical mastery: It's one thing to know the theory behind cybersecurity, but another entirely to put it into practice. OffSec's approach prioritizes hands-on training, ensuring that participants prove their practical skills. This ensures that when faced with actual cyber threats, Paidy's team is not only knowledgeable but also adept at countering them.
3. Keeping pace with the digital frontier: The cyber landscape is dynamic, with new threats emerging almost daily. OffSec recognizes this ever-changing environment, offering continuously updated content that reflects the newest trends and technologies. As a result, Paidy is always a step ahead, with its defenses fortified against the latest cyber strategies and vulnerabilities.

“For the type of job we are doing, skills taught in OffSec courses are crucial. The way you keep the content fresh also allows us to constantly go back and learn new things that are important for our roles.” Blake

4. Clarity and structure: One of OffSec's strengths lies in its well-structured platform. The content organization is intuitive, ensuring that learners can progress logically and grasp complex concepts with clarity. For Paidy, this meant their teams could efficiently navigate the training modules, maximizing learning outcomes.
5. Application in action: OffSec believes that continuous upskilling is the key to maintaining a robust cybersecurity posture. Through labs and practical exercises, Paidy's team had the opportunity to apply their learned knowledge in real-time scenarios. These exercises not only reinforce the lessons taught but also provide invaluable experience in handling cyber threats.

Benefits

The world of cybersecurity is dynamic. New threats emerge every day, and the tools and strategies of yesterday may not necessarily be effective today. OffSec's training ensures that the Paidy team is never static. With continuous training modules, the team can consistently refresh and upgrade their skills. This proactive approach helps reduce business risk and allows Paidy's defenses to always be several steps ahead of potential threats.

For any business, an investment, especially in training, should yield discernible results. Paidy's leadership, after partnering with OffSec, has witnessed a clear ROI. This isn't just in the form of an empowered team but also in the prevention of potential security breaches, maintenance of brand trust, and the assurance of uninterrupted service to their customers.

Not only did company-sponsored training help retain hard-to-find cybersecurity professionals, but it's also an invaluable investment in an organization's must important asset–the people. 

One of the most vital aspects of cybersecurity is the speed of response. A delayed reaction to a threat can result in significant damage. Thanks to OffSec's specialized training modules, Paidy's team has been taught with a mindset that allows them to critically analyze and address issues with remarkable speed. This efficiency is invaluable, not just in countering threats but also in evolving the company's cybersecurity blueprint. 

Paidy has also leveraged Offsec's training modules to battle harden its SOC (Security Operations Center) and earn significant buy-in for future cybersecurity assessments.

Software development in the financial sector isn't just about introducing new features; it's about understanding that new features come with potential new threats that need to be managed.OffSec's methodology has endowed Paidy with the tools to develop software with an innate security perspective. Moreover, by stacking the Offsec mindset with Paidy's existing SSDLC, business stakeholders have better assurance that developed software is as secure as reasonably possible before production deployments. The blend of the proper developmental and assessment methodologies ensures that Paidy's solutions are not just user-friendly but also exceptionally secure.

The collaboration between Paidy and OffSec is a testament to the power of professional training in shaping the future of cybersecurity. This partnership has fortified Paidy's digital defenses and set a benchmark for others in the industry. In an era where security is as vital as innovation, this alliance showcases the blueprint for achieving excellence.