Why OFDSS?

The financial services industry is undergoing a massive digital transformation. New types of companies are entering the space and building innovative products that transform how consumers interact with their finances.

The Challenge

The financial services industry is undergoing a massive digital transformation. New types of companies—including data aggregators, neobanks, and embedded finance platforms—are entering the financial services space. These companies are building innovative products and services that are transforming the way consumers interact with their finances.

However, existing security standards and frameworks were not designed for modern cloud-native delivery models or for the resource constraints of early-stage companies. Frameworks like SSAE18 and NIST CSF are comprehensive, but they can be difficult for smaller companies to implement.

The Solution

OFDSS was created to raise the security bar while also fostering innovation by providing guidelines that are optimized for startups and growth-stage firms.

OFDSS maintains alignment with SSAE18 Trust Services Criteria (TSC) for Security and NIST Cybersecurity Framework (CSF), ensuring that companies that adopt OFDSS are well-positioned to meet the requirements of these broader frameworks as they grow.

Key Principles

1. Cloud-native first — Designed for modern infrastructure and delivery models
2. Resource-conscious — Optimized for the constraints of early-stage companies
3. Standards-aligned — Maps to SSAE18 TSC for Security and NIST CSF
4. Innovation-friendly — Raises the bar without stifling innovation
5. Auditable — Clear requirements with implementation guidelines and audit steps

Who Benefits?

• Fintech startups — Clear, achievable security framework from day one
• Growth-stage companies — Bridge between basic security and enterprise frameworks
• Financial institutions — Confidence in the security posture of fintech partners
• Consumers — Better data protection across the digital finance ecosystem