MODO

MODO, a pioneering digital wallet collaborator with financial institutions that offer instant cashback rewards, integrated payment methods, and exclusive banking promotions, has chosen AWS as its operational foundation.

Committed to providing safe and smooth financial services, MODO partnered with DinoCloud for two important projects to strengthen and optimize the security of its AWS environment, aligning with the high standards of the AWS Financial Services Competency.

Improving Financial Security for MODO’s Innovative Payment Solutions

The first step involved a thorough review of MODO’s live production environment’s security framework. The main goal was to ensure strict adherence to security best practices and regulatory requirements in the financial sector. Key areas included workspace security, database management, encrypted backups, access control, and governance mechanisms. The second project focused on examining a staging environment, specifically aiming to comply with the Payment Card Industry Data Security Standard (PCI DSS). This validation was essential before moving the staging environment into production to seamlessly introduce an advanced virtual wallet offering.

DinoCloud approached these challenges with a comprehensive security assessment approach. They created a custom application for the initial project, using open-source tools to carefully assess MODO’s infrastructure against top AWS security standards. This application produced detailed findings and summarized results in an executive report, utilizing Open AI’s capabilities. Additionally, a manual evaluation was done alongside the automated analysis. The same application from the first project was skillfully adapted for the second project to evaluate the new infrastructure’s alignment with PCI DSS requirements.

The first project involved a thorough evaluation of MODO’s existing infrastructure, resulting in a detailed security report that highlighted potential vulnerabilities and compliance gaps without immediate solutions. In contrast, the second project aimed to assess the new infrastructure’s strength in meeting PCI DSS compliance standards.

Results

Both efforts provided MODO with valuable insights into the security of their AWS environment. The comprehensive security assessment reports helped MODO identify potential weaknesses and compliance issues, allowing them to proactively address and improve security procedures. With a clear understanding of their security status, MODO is ready to offer their growing customer base secure, reliable, and PCI-compliant financial services, reinforcing their position as a leader in the financial services industry.

Conclusion

In conclusion, MODO’s collaboration with DinoCloud has substantially enhanced the security of their innovative payment solutions on AWS. Through two meticulously executed projects, they’ve identified and rectified vulnerabilities and compliance gaps, ensuring their financial services meet the highest industry standards. This comprehensive approach has equipped MODO with the knowledge and capability to provide their growing customer base with secure, reliable, and PCI-compliant financial services. This success reaffirms MODO’s leadership in the financial industry, setting a new standard for innovation and security in the digital payment sector.