A Tees Valley SME has strengthened its online security with the help of Teesside University’s DigitalCity initiative.
In an era where cyber threats are on the rise, collaboration between the cybersecurity and financial technology sectors is crucial. With this in mind, Darlington-based FinTech company, Paid, embarked on a project to enhance its security measures, ensuring that both clients and suppliers can trust that their data is securely protected.
Paid offers a platform that eliminates the need for intermediaries in supplier-client payments, streamlining the process and making it more efficient. Their automated invoice tools have been a hit with SMEs, allowing them to receive payments within hours, without the need to chase clients. Since its launch in 2018, the company has seen significant success, participating in Barclays Techstars in 2019, joining Technation’s FinTech group, and piloting its platform with a major telecommunications company.
As their client base grew, Paid sought to further invest in its security. Through DigitalCity, they were introduced to North Cyber Security, following a competitive tender process. North Cyber Security conducted a software review and a full penetration test, including an ethical hack to identify any hidden vulnerabilities.
DigitalCity supports both digital and non-digital businesses in fostering digital innovation and investment.
Tom Howsam, director of Paid, praised North Cyber Security: “North CS has a professional approach. They quickly understood our software needs after one call, and from there, we could step back. At the end of the process, they provided a comprehensive report and debrief, which was exactly what we needed. I’d recommend them and would gladly work with them again.”
He also highlighted DigitalCity’s role: “DigitalCity was instrumental in helping us realize the importance of this security test for our platform. Completing this project has helped Paid secure larger enterprise clients. The entire process was simple, efficient, and, most importantly, fast.”
Thanks to the project, Paid now enjoys increased security from cyber threats and is positioned to pursue larger contracts and expand its services nationwide.
North Cyber Security specializes in penetration testing and IT due diligence for investments, mergers, and acquisitions ranging from £1 million to £300 million. Their clients range from local start-ups developing online platforms to global enterprises.
Ben Kenyon, director of North Cyber Security, emphasized the importance of regular testing: “Any organization processing data through a platform, website, or SAAS product must conduct penetration tests to avoid data breaches and severe consequences. This isn’t a one-off task but should be done annually to identify potential vulnerabilities.”
Kenyon added: “While we work with businesses globally, we’re always eager to collaborate with local companies. Right now, we’re particularly interested in partnering with more SAAS businesses and web development agencies, both locally and globally.”