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Sysnet Scoops ‘Excellence in RegTech’ Award at Florin Awards


Dublin, Ireland, 29 April 2019Sysnet Global Solutions, the leading provider of cyber security and compliance solutions, was unveiled as this year’s Florin Awards ‘Excellence in RegTech’ winner in a glittering ceremony in the Louwman Museum in the Hague, the Netherlands, last night. The highly-competitive category is dedicated to championing RegTech providers whose product or service make a significant and tailored contribution to enhancing compliance in the payments industry.

The judging panel of industry experts including Monica Monaco, Subas Roy, Melisande Mual and Harry Smorenberg, looked for companies that are forging ahead in the regulatory space, keeping the payments ecosystem safe and compliant in the process. Judges were impressed by Sysnet’s commitment to simplifying compliance and cyber security procedures, particularly for SMBs, and raising their compliance levels on a global scale.

The Florin Awards were established in 2010 to stimulate innovation in the transaction services industry. This year, the awards placed a special emphasis on the regulatory side of the industry, putting the spotlight on organisations and individuals who exemplify excellence in the field of compliance and regulatory technology.

Sysnet works in partnership with six of the world’s ten largest acquirers, to support over 2 million merchants globally to enhance compliance and security while protecting businesses and payment data. It does this through award-winning cyber security solutions, services and support.

Its Proactive Data Security (PDS) solution provides a managed cyber security and compliance service for tens of thousands of merchants, aiming to reach compliance rates in excess of 70% for an acquirer’s entire merchant portfolio. PDS is a win-win for both acquirers and merchants; PDS reduces risk for acquirers, improves relationships with merchants through the provision of a value-add service and is a sustainable source of revenue. Merchants have their compliance and security requirements managed on their behalf and can rest-assured that they are doing all they can to protect their business and customer information - all for less than the cost of monthly non-compliance charges. 

Paul Rodgers, Chairman of the European Independent Payments Forum Vendorcom, welcomed this recognition of true innovation in the payment security sector. 

Paul said: "Payment acquirers are constantly striving to ensure that their merchant customers have access to the best solutions to take payments. That extends to enabling them to comply with the latest security standards and to demonstrate that compliance to the payment industry standards bodies. By providing its innovative solution through acquirers to the small merchant community, the challenge of becoming compliant, as well as maintaining and reporting on that compliance, is a lot less onerous."

Gabriel Moynagh, CEO of Sysnet, commented on the award win: “It’s an honour to add the Excellence in RegTech Florin Award to our list of achievements, for the second time. At Sysnet Global Solutions, we’re passionate about protecting small businesses so it’s a fantastic achievement to be recognised by the industry.

“We won on the strength of our Proactive Data Security solution which provides managed security and compliance services to tens of thousands of merchants. Generally smaller businesses can’t afford managed services, we can offer a price point that is very affordable for small businesses because we do it at scale, partnering with some of the world’s largest acquiring banks.

Our clients achieve upwards of 70% merchant portfolio compliance with our solution because we strive for compliance excellence with genuine security”.

For more information on Sysnet’s Acquirer PCI Sentiment Survey, visit http://www.sysnetgs.com.

13th May 2019

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