Estonia-based cryptocurrency platform is the world’s first to be recognized for best practices in these critical areas, bringing its total ISO certifications to four.
TALLINN, ESTONIA – FintechX OÜ has earned ISO 37301 compliance management certification and ISO 37001 anti-bribery management certification for its Kriptomat cryptocurrency platform.
Kriptomat is the first cryptocurrency exchange to earn ISO certification in these two key areas.
“Kriptomat is committed to best practices and a culture of continuous improvement,” said Chief Operating and Integrity Officer Dejan Davidović. “The new certifications demonstrate our commitment to serving as a trustworthy platform in an industry that is too often subject to scaremongering headlines about scams and dubious practices. And they serve as a high bar for other crypto platforms to follow.”
The new certifications confirm FintechX’s leadership position in setting good standards in the crypto, Web3, and fintech industries. Kriptomat previously earned ISO 9001 certification for quality management and in 2020 became Europe’s first crypto platform to earn ISO 27001 certification for information security management.
“We are very pleased with our success, as the certifications are the result of many months of hard work and represent our commitment to a culture of compliance and zero tolerance for fraud and bribery,” said FintechX Chief Legal Officer Irena Dimitrič, who managed the implementation of the standards.
Regulatory challenges, fraud, and market risk management are on the daily menu for all companies working in the crypto industry, and Kriptomat addressed them head-on. “Two key benefits come from implementing the standards,” Dimitrič said. “They are very helpful in ensuring that the company is managed in accordance with best practices in the market, and at the same time, standards are an excellent communication tool with which we communicate key information about our values, principles, strategy, and goals to customers and business partners.”
Organizations and individuals want to work with companies they can trust, observed Howard Shaw, who chaired the ISO technical committee that developed the 37301 standard. “Trust is built on a company culture of doing the right thing, where every employee contributes because they understand and believe in the importance of it,” he said. “Central to this is good leadership and clear values, which have to come from the top.”
FintechX’s focus on certification is a reflection of Kriptomat’s culture, Dimitrič said: “All ISO standards we implement are the result of a strategic management decision to build a sustainable business by gradually addressing key areas: First, we ensured that our company reflects our commitment to a safe and reliable environment by implementing an ISO information security management system. Second, our customer obsession principle was upgraded with ISO quality management certification in 2021. This year, amid all the regulatory changes and new AML regulations in Estonia, we wanted to set an example by publicly communicating our devotion to regulatory compliance and a bribery-free environment.”
The external audit leading to Kriptomat’s certification was conducted by Slovenian Bureau Veritas, a world leader in testing, inspection, and certification services.
About ISO certification
Global in scope, the International Organization for Standardization (ISO) is composed of national standards bodies in more than 160 countries. International organizations, governmental and non-governmental, collaborate with ISO in order to share the knowledge and experience and gather all the best practice from the market, that is further captured in ISO standards.
ISO recognition is not based upon a snapshot assessment demonstrating that an organization has met qualifying requirements at one particular moment. Instead, certificates are awarded to organizations that establish practices and policies to ensure that business processes are managed, evaluated, and improved over time. Kriptomat’s four ISO certificates reflect a commitment to documenting business processes, reviewing them regularly, and updating them to meet changing conditions and ever-rising internal expectations.
ISO 37301 certification is awarded to organizations that have demonstrated the ability and commitment to developing, implementing, maintaining, and improving an effective compliance management system. Certification is awarded not just to companies that comply with regulations, but to those who have made compliance a core value – the result, according to ISO, of a “deeply entrenched culture of integrity and good ethics.”
ISO 37001 is awarded to companies that establish, implement, maintain, and review anti-bribery management systems. The certification is particularly important for companies that manage fiat and digital currencies on behalf of customers.
ISO 9001 is called the “mother of all standards,” as it lays out the requirements for managing business for quality. ISO 9001 paved the way for development of many other standards. Certification is granted to organizations that demonstrate the ability to consistently provide products and services that meet the requirements of both customers and regulatory bodies.
ISO 27001 certification is awarded to companies that establish, implement, maintain, and continually improve information security management systems within the organization.
Founded in 2018, Kriptomat revolutionized the cryptocurrency world with the introduction of the simplest platform in Europe. Kriptomat makes digital finance so simple that everybody everywhere can access the freedom, fairness, and fulfillment that crypto represents. Hundreds of thousands of customers across Europe trust Kriptomat when they build and manage their crypto portfolio.
Kriptomat publicly identifies integrity as its leading principle. Unlike crypto providers who pay attention primarily or solely to technical issues, Kriptomat focuses on the importance of management quality, business values, equality of employees, and sustainable business practices. The new certifications serve as an additional assurance to customers, employees, investors, and other stakeholders that the company is taking all available measures to assure regulatory compliance and prevent fraud and bribery.
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