Financial Security Services
Are you looking for a software development company that can help you with financial security services? Our team has 15+ of experience in developing secure payment systems that protect your customers' sensitive financial data. From online payment gateways to mobile payment apps, we have the expertise to deliver cutting-edge solutions that meet the highest security standards.
Trusted by startups and industry leaders worldwide:
Softjourn's Deep Expertise in Financial Security Features & Standards
Driven by the ever-pervasive "Internet of Things," new technologies —from better network connections and AI to 24/7 access and engagement —have emerged. As a result, increased mobility and the digitizing of fintech services are delivering better user experiences for ACH transfers, intrabank network payments, mobile payments, credit cards, and more. These developments also allow for cyberattacks and fraud to occur at an alarming regularity and speed, making them impossible for financial staff with outdated tech to combat effectively.
The fintech industry has enhanced cybersecurity and risk management through the introduction of strict policies and regulations. We fully understand the needs, regulations, and technologies that can shore up potential backdoors or other security issues.
Our cutting-edge solutions include 3D Secure (3DS) protocols, biometrics, end-to-end encryption, and tokenization. We'll work with you to quickly identify key vulnerabilities and develop innovative, cost-effective payment security solutions that comply with global standards.
Softjourn has proven experience with the following security features/standards:
EMV “smartcards”
These cards with a "smart chip" are becoming the global standard for robust security. Replacing the magnetic strip, the chip generates a new transaction code with every use. This makes the card less susceptible to data being scanned or misused. EMV compliance is a must to minimize fraud liability and we have the know-how to process, secure and store EMV data.
PCI DSS Compliance
Payment Card Industry Data Security Standards (PCI DSS) is the benchmark for consumer payment data protection. We provide PCI DSS-compliant technology that lets you securely process, transmit, and store payment card-related data.
3DS
Typically 3DS payments demand a password to use a payment card. A two-factor authentication (2FA) messaging protocol, it provides a backstop for forgotten passwords. While some view this as a hindrance to closing sales, it helps combat card-not-present (CNP) fraud, often carried out with card numbers hacked from businesses not using any of these technologies.
E2E Encryption
End-to-end encryption (E2E), also known as point to point (P2P), prevents third parties from accessing data while it's transferred from one end system or device to another. Data is encrypted on the sender's system or device, so third parties have no way to decrypt it.
HSM
A hardware security module (HSM) is technology that safeguards and manages digital keys for authentication and provides crypto processing. It's used at the end of an E2E chain so financial institutions can store and apply encryption keys by way of a tamper-proof device.
Tokenization
When you have specific needs, an option to E2E encryption is tokenization. Where encryption uses a key, here sensitive data is replaced by a meaningless token created, and later validated, by a trusted authority. This process securely performs the transaction with the original data.
Advanced Payment Tokenization
PSP Tokens
PSP tokens are issued by a single payment processor and offer built-in tokenization for that specific PSP. While convenient for single-processor businesses, they create significant limitations for enterprises working with multiple payment providers.
Key Features:
- Valid only for the processor that issued the token
- Not transferable between different processors
- Requires complex token migration for processor changes
- Creates vendor lock-in for payment processing
- Suitable for businesses using single payment processors
PSP-Agnostic Tokens
PSP-agnostic tokens offer the ultimate flexibility for medium- to large-sized companies that require control over their payment processing. These tokens work across multiple processors without vendor lock-in, enabling businesses to optimize payment routing and reduce costs.
Key Features:
- Compatible with multiple payment processors
- No vendor lock-in or migration hassles
- Enables optimal payment routing strategies
- Stored in dedicated token vaults by payment operating systems
- Perfect for enterprises with complex payment needs
Network Tokens
Network tokens represent the next evolution of payment tokenization, issued directly by card networks like Visa and Mastercard. They offer enhanced security, higher conversion rates, and lower processing costs, making them ideal for medium to large businesses.
Key Features:
- Issued directly by Visa, Mastercard, and other major networks
- Higher payment conversion rates
- Lower interchange fees in many countries
- Reduced fraud risk and chargeback ratios
- Enhanced trust across the entire payment chain
- Compatible with any PSP connected to the network
Start your journey with our financial and security experts!
Contact usOur Fintech Security Studies
Security & Compliance
How We Strengthened Security and Ensured PCI Compliance for PEX
Softjourn helped PEX safeguard sensitive financial data by upgrading their security infrastructure and achieving PCI compliance. Key improvements included the implementation of Zero Trust Network Access (ZTNA) and enhanced monitoring with SIEM. These solutions demonstrate our commitment to creating
Payroll Software
3-Week Code Audit: Enabling Confident Acquisition Through Technical Due Diligence
We conducted a comprehensive security assessment using OWASP Top 10 framework for a fintech acquisition, ensuring robust security practices across the platform. Our evaluation confirmed strong security foundations while identifying enhancement opportunities for long-term financial data protection.
Fintech ComplianceStrategic Technical Consulting for Audit-Ready Fintech Systems
As part of a major platform transformation, a federally regulated bank needed to prepare for critical FDIC and PCI-DSS audits. Softjourn guided the process, collaborating with legal and compliance stakeholders to define scope, document systems, and implement technical controls aligned with evolving
Payment Security
https://softjourn.com/case-study/project-admission-payment-security
Project Admission wanted to strengthen its payment security to protect customers and reduce the growing risk of chargebacks and fraudulent transactions. We helped them upgrade to Stripe Payment Intents with 3D Secure to stay compliant and ahead of industry standards. Throughout the implementation, w
Features
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PSD2 standards
All businesses that store, process or transmit payment card data are mandated to comply with the new PCI DSS directive. In 2019, those working within the EU had two deadlines to meet. The March 14 deadline required banks to deploy dedicated interface (open APIs) to be tested by account information service providers (AISPs) and payment initiation service providers (PISPs). The September 14 PSD2 Regulatory Technical Standards (RTS) compliance required banks to support open banking, particularly security and secure common communications standards.
These two mandates mean the European payments industry—which is significantly expanded under PSD2—is controlling and governing activities to assure compliance. If you're a business that conformed to this compliance, have you done all that you could? We can work with you to define solutions that more effectively use PSD2 requirements to creatively expand your market capabilities. We have deep experience developing and coding APIs, including security best practices to protect your customers' data.
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Behavioral Biometrics and Fraud Prevention
Biometric data is used for multi-factor authentication to make payment processing ever more secure. Certainly physical biometrics – such as fingerprint, hand geometry, iris scan, retina, vein scanners and facial recognition – are gaining popularity as a way to unlock smartphones or access sensitive apps. It's also becoming prominent as a way to verify payments, since it secures data without inconveniencing consumers.
But is it secure enough? Researchers from New York University and Michigan State have proved it's possible to generate fake fingerprints using neural networks. Besides physical biometrics, we advocate additional behavioral biometrics to make authentication processing even more secure. These include vocal behavior analysis, signature dynamics analysis and analyzing keystroke patterns. We can help with any and all of these solutions.
AI-based Fraud detection
There are many emerging technologies to prevent fraud. In particular, anomaly detection is one AI approach that helps identify fraudulent transactions and transfers. Pattern recognition is the process that recognizes patterns using machine learning algorithms. Put another way, it is the classification of data based on knowledge already gained or statistical information extracted from patterns and/or their representation. Our expert team stands ready to help implement such advanced security measures.
Engagement Models
Need technical skills or expertise? A Dedicated Team can help extend resources, and can work seamlessly with your company under your guidance or ours. This model is ideal when planning long-term or larger scope projects, have several projects or a pool of tasks, or don't have a clear vision of future project objectives. Learn more about how Softjourn's dedicated team can support your projects and scale your business goals.
Client Testimonials
Tacit Corporation engaged Softjourn for their financial security services because of their technical expertise and direct approach. Brenda Crainic, CTO of Tacit, shared, "We grew a lot as a company over the last 12 years and our processes changed, many of the current development practices being initiated by the team. I count a lot of my team's expertise and I am confident in our ability to deliver cutting-edge technology for our clients.
Our team's dedication to understanding Tacit's needs has been instrumental in enhancing their platform's capabilities, ensuring robust financial security solutions. This ongoing collaboration underscores our commitment to delivering high-quality, innovative services that support our clients' visions." - Brenda Crainic, CTO and Co-Founder of Tacit
What We Offer
Whether upgrading an existing code or creating a new one, the most important expertise we offer is a proven approach to mitigating risk and containing costs. Discover more about Softjourn's expert Consulting Services.
Often clients don't know what product they need, but do know the results they want. Our job is to help define the product and develop optimal solutions to get those results. Learn more about Softjourn's Discovery Phase Services.
To compete, our clients continually need to provide new and better services. We have our own R&D Centers – started in 2008 – which uniquely positions us to do just that. Read more about Softjourn's Research and Development Services.
Our developers and illustrators are experts at UI and UX design. They will work with you to understand your needs in going from idea to prototype to deployment faster and at less cost. Explore further into Softjourn's Digital Product Design Services.
Software development has grown exponentially in recent decades. Softjourn is the solution to help you define and develop forward-thinking technology that gets real-world results. Get to know more about Softjourn's Software Engineering Services.
Our core belief is that analyzing and testing is critical because the essential role of software is so important. In the process, our Quality Assurance team helps you create superior products. Explore further into Softjourn's QA services.
Since day one, we've been providing application support and maintenance services to each customer on every project. It's why we're a proven, trusted partner and reliable asset. Get to know more about Softjourn's Application Support and Maintenance Services.
Our technology stack at Softjourn is designed to empower us to deliver world-class services to our clients. With a strong focus on innovation and efficiency, we continually adapt our expertise to stay ahead of the curve. Discover the Technologies and Frameworks we utilize, and learn how we can bring your ideas to life.
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We were encouraged because Softjourn asked the right questions, involved people with the right experience in to the conversations. Showed good leadership in managing the process of walking them through the sales process, keeping them on track, and has a lot of strong knowledge in the financial area, as they are a small software developer company and there are always so many other things that are pulling us in multiple directions. As well Softjourn shows a lot of experience in multiple programming languages and in combining them in to one product.
The work Softjourn has done to this point has helped us streamline our operations and has eliminated the need for us to hire customer service reps. Through the efforts of Softjourn we are able to extend more control to our clients which allows them to better manage their payment process.
Softjourn's ongoing support is an important part of our success. We value their partnership in helping us address the complex software and technology needed to operate a world-class business.
The development team at Softjourn has been fantastic to work with. They are professional and have met our deadlines, while screenshots are pretty cool and I'm excited for our clients. They are going to really appreciate the enhanced functionality of our platform. We have some pretty cool services that are folded into this eWallet that go above and beyond what we currently use. We're very excited to work with Softjourn on this.
Jeff EhneyFounder & CEO at Card Tent
We greatly appreciate the work and support Softjourn has provided to Versapay. Their expertise and understanding of our business needs have been invaluable. Softjourn consistently delivers what we ask for, and more. Their team is quick, asks the right questions, and maintains a positive approach throughout. Their deep domain knowledge and business-level insight enable them to spot potential issues early, ensuring the success of our projects.
Philip PettinatoCTO of Versapay