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RBI NBFC P2P Compliance Audit

Introduction

Peer-to-peer lending, or P2P lending, is the practice of lending money to people or businesses through online services that connect lenders with borrowers. On August 24, 2017, the RBI issued a Notification that every Non-Banking Financial Company that conducts business with P2P platforms must abide by. To operate with minimal overhead and offer their services at a cheaper cost than conventional financial institutions, peer-to-peer lending organizations frequently offer their services online. 

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Our Process to Perform RBI NBFC P2P Compliance Audit

Our team at Precise Testing Solution performs RBI NBFC P2P Compliance Audits for the issuers and offers them the advice and solutions they need to improve their security posture by following the below mentioned process:

  • The organisation is the subject of information gathering.  
  • Review of the organization’s operations. 
  • The organization’s policies, processes, and other documentation are examined. 
  • Evidence for Every Audit Point Is Collected. 
  • The holes are located. 
  • Wherever feasible, areas for improvement will be offered. 
  • The report must be written and include any observations that follow the rules. 
  • The points on compliance, non-compliance, and areas in need of improvement are made quite plain. 
  • The report presentation must be completed when the above-mentioned procedures are finished. 
  • The customer receives the final, signed report, which can also be shared with the regulatory agency upon request. 

Benefits of Our RBI NBFC P2P Compliance Audit Service

  • It increases trust that the mechanisms are appropriate and functioning safely according to plan. 
  • The viewpoint of a neutral third person is gained. 
  • Direct operations so that the company may provide better services. 
  • Provide user companies that contract out any IT systems performing crucial functions the confidence that the service providers have policies and controls in place to deliver consistent and dependable services. 
  • With the help of the knowledgeable Precise Testing Solution staff, the security of the organisation can be enhanced. 

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Why should you choose Precise Testing Solution?

The Precise Testing Solution is a STQC & CERT-IN empanelled company that is a member of the Data Security Council of India and NASSCOM, and is also certified under ISO 9001:2008 and ISO 27001:2013 standards & licensed IT services software testing company that provides cyber security services as well along with information security solutions that include VAPT Services, Penetration Testing Services, and Vulnerability Assessment Services.  

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