Expense Trend is aiming to expand its connectivity with financial institutions by ensuring robust cybersecurity measures are in place. The project focuses on developing comprehensive documentation and processes that align with key regulatory standards such as the EU’s Revised Payment Services Directive (PSD2) and the General Data Protection Regulation (GDPR). The goal is to ensure compliance with Strong Customer Authentication (SCA) and Common & Secure Communication (CSC) standards, which are crucial for secure API sessions between banks and third-party providers. Additionally, the project will address GDPR requirements, focusing on technical and organizational measures like encryption and access control, as well as transparency obligations regarding data usage and third-country transfers. This project provides learners with an opportunity to apply their knowledge of cybersecurity and regulatory compliance in a practical setting.

The project deliverables include a set of clearly written cybersecurity documents that outline the processes for SCA and CSC compliance. Additionally, learners will create a GDPR compliance checklist that includes encryption, access control, and incident management protocols. The deliverables will also feature a transparency statement template to inform customers about data usage and transfers. These documents will serve as a foundational framework for Expense Trend to securely connect with more financial institutions.