Swift decision-making has taken this crypto business to the next level

Despite already being certified to ISO/IEC 27001:2013, the business decided it was time to update to today’s world and obtain its ISO/IEC 27001:2022 certification.
Swift decision-making has taken this crypto business to the next level

From humble beginnings in a Queensland share house, two friends, Alex Harper and Angus Goldman, saw an opportunity to bring crypto trading to everyday Australians. Both Founders wanted to eliminate frustrations within the crypto trading market by creating a platform that makes engaging with digital currency easy, and in 2018, Swyftx was born.

With nearly 100 employees based in its Brisbane HQ, today Swyftx is one of Australia’s largest cryptocurrency exchanges empowering hundreds of thousands of Australians to save, invest, and transact safely and securely in cryptocurrencies.

Despite already being certified to ISO/IEC 27001:2013, the business decided it was time to update to today’s world and obtain its ISO/IEC 27001:2022 certification.

A partnership of Aussie-born businesses: transitioning to a new certifier and an updated standard

It was at the beginning of 2023, that Swyftx decided to explore the benefits of upgrading their certification from the outdated ISO/IEC 27001:2013 Standard to the latest ISO/IEC 27001:2022 standard (“Standard”). ISO/IEC 27001:2022 is an internationally recognised standard developed by the International Organization for Standardization) ISO and the International Electrotechnical Commission (IEC) that provides requirements for an Information Security Management System (ISMS) for businesses. The controls within ISO/IEC 27001:2022 outline the criteria that organisations of all shapes and sizes should follow to keep their sensitive information as safe and sound as possible.

Not only were Citation Certification able to assist Swyftx in clarifying how to achieve certification to the newer Standard, but also how it would set the business apart from its competitors and update obsolete controls that existed within the old 2013 Standard. Head of Security, Ben Browne, told us: “After conducting a thorough gap analysis, it was determined that the updated Standard not only suited our cloud model better, but also provided a higher standard of security.”

“Building and maintaining customer trust is one of the highest priorities we have as a crypto trading business, as we’re being trusted not only with our customers’ sensitive information but also with their funds. It is our duty to ensure we protect both of those things.”

It’s not enough to just be aware of the potential threats that exist online; organisations must do everything they can to protect data and store it securely. “We’re very well aware that it only takes a single cyber-attack to seriously damage our business and its reputation, so taking proactive steps, like our decision to update our Standard, helps us reinforce our commitment to information security,” Ben says.

It was a journey of determination to ISO certification

To stand out against competitors in this industry, businesses, including Swyftx, need to enshrine their commitment to transparency, compliance, and information security with more than just words and statements. Investing in prescriptive management systems to ensure that the business is continually looking to improve and holding itself to a standard that is recognised internationally.

How ISO has taken Swyftx to the next level

According to Swyftx’s Risk and Governance Lead, Daniel van Driel, “It’s not always easy to order your security priorities when you’re a very fast-growing business, and this is where ISO standards are helpful in designing a realistic roadmap to develop and reach them.”

“Our most recent audit cycle was one of the most positive experiences we’ve had since certifying to ISO/IEC 27001:2022, and the relaxed nature allowed us to engage in discourse that was open and honest about gaps and our plans to fix them.”

“Being able to show complete and tight governance around our security in a way that is defensible and credible is what helps us facilitate – and implement – a long-term improvement plan,” Daniel says.

From assessment to certification, Citation Certification are the experienced experts that can lead you towards achieving ISO certification

Our team of experts has successfully lead thousands of businesses to achieving many ISO certifications, and they’ll confidently guide your business through the same streamlined process. Our auditors are committed to delivering exceptional audit outcomes that add significant value to your organisation and implement best-practice processes.

Is your business ready to get certified? Want to know more about ISO/IEC 27001:2022? Reach out to our trusted and experienced team at Citation Certification to have a confidential chat about your needs.

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