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Unique agreement with Dutch National Bank allows Dutch financial institutions to use SRXP

Feb 10, 2016 9:15:18 AM

Unique agreement with Dutch National Bank allows Dutch financial institutions to use SRXP

We are proud to tell that SRXP now has a unique agreement with Dutch National Bank (DNB), which is a prerequisite before Dutch financial institutions are allowed replace any process with a cloud-based solution. SRXP is the first expense reporting specialist in the cloud that has this agreement with DNB.

The agreement followed after a Dutch bank expressed interest to use SRXP’s expense reporting solution. As you might know, Dutch financial institutions are under surveillance of  Dutch National Bank (DNB). DNB has outlined special requirements that have to be met before financial institutions are allowed to make use of cloud computing.

 

SRXP is found to adhere to the highest safety standards

Logically, one of the requirements is that the cloud solution adheres to the highest safety standards. The financial institution itself has to do an extensive risk analysis to evaluate the safety of the cloud solution they wish to use. This risk assessment includes at least a review of compliance with existing laws and regulations, the stability and reliability of the service provider, and the importance and interdependence of IT services. The risks of integrity, confidentiality and availability of data have to be assessed as well. Moreover, if the company no longer uses the service of the cloud vendor, the financial institution must secure all data and ensure that all data is removed from the system of the cloud vendor. Last, the location where business data is processed and stored must be clear. SRXP runs on servers of Amazon Web Services (AWS), a provider also approved by DNB.

While every financial institution that wishes to use SRXP has to preform its own risk analysis, they can safely assume that the report will show no weaknesses.

Click here for more information about the security of SRXP.

 

Right to examine

Besides the extensive risk and data security analysis, a ‘right to examine’ has to be added to the contract of the cloud supplier. This right to examine means that DNB will get access to company account of the financial institution if requested. SRXP is proud to announce that this ‘right to examine’ is added to our terms of use, and thus our contract. If this right to examine is applicable for your organisation, we can speed up the implementation process significantly.

SRXP can now be found now on the DNB website amongst organisations like Microsoft, Salesforce, and KPN. 

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Author

Pieter Verbruggen

Pieter Verbruggen

CEO & Founder
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