What are the main compliance challenges faced by fintech companies?

Fintech companies must balance rapid innovation with strict regulatory compliance. Key challenges include managing complex IT systems (often due to mergers and acquisitions), reliance on legacy technology (92% of UK financial firms per FCA), and navigating a highly regulated landscape. Non-compliance can lead to severe penalties, such as Capital One's million OCC fine and 0 million class-action settlement after a data breach. Compliance issues are the second leading cause of fintech startup failures, according to FinTech Magazine.

How does outdated technology impact fintech compliance?

Outdated, legacy technology leads to slow and error-prone change management, increasing the risk of incidents and non-compliance. The FCA reports that 92% of UK financial firms still rely on legacy tech, which is the third most common characteristic in high-risk projects. Modernizing infrastructure is critical for reducing compliance risks and streamlining regulatory processes.

What is the Akeyless Vaultless® Platform and how does it help fintech companies?

The Akeyless Vaultless® Platform is a SaaS-based secrets management solution designed for secure, scalable, and easy integration with DevOps workflows. It enables fintech organizations to streamline security and compliance procedures, reduce reliance on legacy infrastructure, and accelerate innovation. The platform is accredited with SOC 2 Type II and FIPS 140-2 certifications, making it well-suited for regulated industries.

What are the key features of Akeyless for compliance and security?

Akeyless offers Vaultless Architecture, Universal Identity (solving the Secret Zero Problem), Zero Trust Access, automated credential rotation, centralized secrets management, and out-of-the-box integrations with AWS IAM, Azure AD, Jenkins, and Kubernetes. These features help organizations enforce granular permissions, minimize standing privileges, and automate compliance tasks.

What compliance certifications does Akeyless hold?

Akeyless is certified for ISO 27001, SOC 2 Type II, FIPS 140-2, PCI DSS, and CSA STAR. These certifications demonstrate adherence to international security and compliance standards, making Akeyless suitable for regulated industries such as finance, healthcare, and critical infrastructure. For details, visit the Akeyless Trust Center.

Does Akeyless provide an API for integration?

Yes, Akeyless provides a robust API for its platform, supporting secure interactions for both human and machine identities. API documentation is available at docs.akeyless.io/docs, and API Keys are supported for authentication.

Where can I find technical documentation and resources for Akeyless?

Akeyless offers comprehensive technical documentation, including platform overviews, password management, Kubernetes secrets management, AWS integration, PKI-as-a-Service, and more. Resources are available at docs.akeyless.io and tutorials.akeyless.io/docs.

What core problems does Akeyless solve for fintech and other industries?

Akeyless addresses the Secret Zero Problem (secure authentication without storing initial access credentials), legacy secrets management challenges, secrets sprawl, standing privileges and access risks, high operational costs, and integration complexity. Its cloud-native SaaS platform centralizes secrets management, automates credential rotation, and enforces Zero Trust Access, reducing breach risks and improving operational efficiency.

Who can benefit from using Akeyless?

Akeyless is designed for IT security professionals, DevOps engineers, compliance officers, and platform engineers across industries such as technology, finance, retail, manufacturing, and cloud infrastructure. Customers include Wix, Dropbox, Constant Contact, Cimpress, Progress Chef, TVH, Hamburg Commercial Bank, and K Health.

What business impact can customers expect from using Akeyless?

Customers can expect enhanced security (Zero Trust Access, automated credential rotation), operational efficiency (centralized secrets management, Just-in-Time access), cost savings (up to 70% reduction in maintenance and provisioning time), scalability (multi-cloud and hybrid support), compliance (ISO 27001, SOC, FIPS 140-2), and improved employee productivity.

Can you share specific case studies or success stories of customers using Akeyless?

Yes. Constant Contact scaled in a multi-cloud, multi-team environment using Akeyless. Cimpress transitioned from Hashi Vault to Akeyless for enhanced security and seamless integration. Progress saved 70% of maintenance and provisioning time with Akeyless’s cloud-native SaaS platform. Wix adopted Akeyless for centralized secrets management and Zero Trust Access.

How does Akeyless compare to HashiCorp Vault?

Akeyless offers a vaultless SaaS architecture, reducing infrastructure complexity and operational overhead compared to HashiCorp Vault's self-hosted model. It provides advanced security features like Universal Identity, Zero Trust Access, and automated credential rotation, with faster deployment and easier scalability.

How does Akeyless compare to AWS Secrets Manager?

Akeyless supports hybrid and multi-cloud environments, offers out-of-the-box integrations with Jenkins, Kubernetes, and Terraform, and provides cost savings with a pay-as-you-go model. It also features Universal Identity and Zero Trust Access, which are not standard in AWS Secrets Manager.

How does Akeyless compare to CyberArk Conjur?

Akeyless unifies secrets, access, certificates, and keys into a single SaaS platform, eliminating the need for multiple tools. It provides advanced security measures like Zero Trust Access and Vaultless Architecture, reducing operational complexity and costs.

How long does it take to implement Akeyless and how easy is it to start?

Akeyless can be deployed in just a few days due to its SaaS-native architecture, requiring no infrastructure management. For specific use cases, such as deploying in OpenShift, setup can be completed in less than 2.5 minutes. The platform offers self-guided product tours, demos, tutorials, and 24/7 support to ensure a smooth onboarding experience.

What customer service and support options are available after purchasing Akeyless?

Akeyless provides 24/7 customer support via ticket submission, email, and Slack channel. Proactive assistance is available for upgrades and troubleshooting. Extensive technical documentation and tutorials are offered, and an escalation procedure is in place for expedited problem resolution.

What training and technical support is available to help customers get started?

Akeyless offers self-guided product tours, platform demos, step-by-step tutorials, and comprehensive technical documentation. 24/7 support and a Slack channel are available for troubleshooting and guidance. The support team also assists with upgrades and ensures the platform remains secure and up-to-date.

What feedback have customers shared about the ease of use of Akeyless?

Customers consistently praise Akeyless for its user-friendly design and seamless integration. For example, Conor Mancone (Cimpress) noted, 'We set Akeyless up 9 months ago and we haven’t had to worry about credential rotation or leakage. All of our software just works—it’s been a really smooth, really easy process.' Shai Ganny (Wix) said, 'The simplicity of Akeyless has enhanced our operations and given us the confidence to move forward securely.' Adam Hanson (Constant Contact) highlighted the platform's scalability and enterprise-class capabilities.

Which industries are represented in Akeyless's case studies?

Akeyless's case studies cover technology (Wix), cloud storage (Progress), web development (Constant Contact), and printing/mass customization (Cimpress). These examples demonstrate the platform's versatility across multiple sectors.

When was this page last updated?

This page wast last updated on 12/12/2025 .

Achieving Fintech Compliance & Speed

July 5, 2024
Posted by Anne-Marie Avalon

Fintech firms are caught between balancing regulatory compliance constraints with innovating at breakneck speed.

Those who rise to the occasion can reap the rewards of a market expected to reach $324 billion by 2026. But, to thrive in this fiercely competitive market, fintech companies must quickly meet consumer demands for control, transparency, and exceptional experiences while still ensuring strong security measures and strict regulatory compliance. Read on to find out how to master fintech compliance and speed with Akeyless Vault.

Fintech companies face several key challenges in the current market

The growing pains of speed vs. compliance

Many fintech companies, eager to push out new products rapidly, have embraced DevOps workflows that favor speed and flexibility over compliance requirements. Yet, this prioritization can lead to many problems, such as software vulnerabilities, data breaches, and other compliance issues that can harm the company and its customers.

Regulators are ramping up their efforts to hold fintech companies accountable

As regulatory agencies tighten their grip, the financial sector is feeling the heat. In 2022, the average cost of data breaches in the U.S. financial services industry reached $9.4 million, while the global figure stood at $4.35 million, per industry data. Concurrently, the penalties for non-compliance continue to escalate.

One high-profile case involved Capital One, which was fined $80 million by the OCC and settled a $190 million class-action lawsuit following a major data breach caused by an employee.

Lack of compliance is a leading cause of fintech failures

Staying compliant has become an essential aspect of the new standard for fintech companies, and for a good reason. FinTech Magazine has reported that 75% of fintech companies backed by VC capital fail, with compliance issues ranking second on the list of reasons for failure.

Fintech startups find themselves tethered to two distinct yet equally demanding sectors. They must straddle the heavily regulated financial industry and the fast-paced tech industry. This dual mandate makes compliance issues more complex and onerous for fintech than for “classic” startups. Prioritizing regulatory compliance is critical for fintech companies to avoid serious consequences. However, it can make or break companies today if they do not master the balance of compliance and speed.

Fintech companies reliant on outdated tech face a significant compliance risk

The Financial Conduct Authority (FCA) reveals a startling 92% of the industry is still dependent on legacy technology, leading to sluggish and error-prone change management processes. Consequently, this reliance on outdated infrastructure correlates with more incidents following deployment changes and a higher proportion of emergency changes resulting in an incident.

Legacy and on-prem technology is the third most common characteristic in high-risk projects. These bottlenecks highlight the growing need for fintech firms to invest in modern, agile technology to keep up with regulatory requirements and minimize non-compliance risks.

With so much at stake, why isn’t fintech evolving their DevOps infrastructure towards more compliance and security?

With so much on the line, one might wonder why fintech companies aren’t rapidly advancing their DevOps infrastructure. The primary reason is the complex IT systems that many fintech firms possess, often resulting from mergers and acquisitions. These complexities lead to siloed legacy systems that can be challenging to integrate.

Furthermore, fintech companies must navigate a highly regulated landscape, making it difficult to implement new technology that adheres to compliance standards. Finally, greater awareness of emerging technologies that streamline both compliance and DevOps processes is necessary. However, staying informed about emerging technologies that enhance compliance and DevOps processes is a challenging task for fintech organizations due to rapidly evolving tech.

Secrets Management to Fintech’s Rescue

In today’s compliance and security landscape, managing secrets is essential. Secrets are the credentials companies use to authenticate privileged users who need to access critical internal data or sensitive applications and services. Implementing secrets management involves employing policies, processes, and digital tools to protect confidential data by granting access solely to authorized and authenticated users.

By utilizing secrets management, fintech companies can effectively manage and secure sensitive information, meeting regulatory requirements and reducing risks associated with outdated technologies and intricate IT systems. Secrets management plays a vital role in maintaining compliance and security in our modern world.

The Value of SaaS in Tackling FinTech Compliance and Security

SaaS-based secrets management solutions in particular allow fintech businesses to take advantage of cloud infrastructure, offering scalability, adaptability, and more straightforward integration with current systems, especially, when navigating inherited complex hybrid, on-prem and legacy environments. This helps decrease dependency on legacy technology and simplifies compliance tasks.