What is a P2P Lending?

Peer-to-Peer Lending Companies often offer their services online, and attempt to operate with lower overhead and provide their services more cheaply than traditional financial institutions.

The RBI issued a Notification on August 24, 2017 which is mandatory to comply for every Non-Banking Financial Company that carries on the business of a Peer-to-Peer Lending Platform.

Applicability

RBI issued a Notification on August 24, 2017 Master Direction DNBR (PD) 090/03.10.124/2017-18 which is mandatory to comply for every Non-Banking Financial Company that carries on the business of a Peer-to-Peer Lending Platform.

Objective

The objectives of P2P lending audit are:

  1. To build confidence that the systems are suitable and operating securely as designed.
  2. To ensure that an independent third-party opinion is obtained.
  3. To steer the organization’s operations to offer better services.
  4. To provide assurance to user organizations who outsource any IT systems performing critical operations that their service organizations have procedures and controls in place to provide constant and reliable services.

Approach

Our approach has been covered in  4 phases as mentioned below 

Phase 1: Audit Planning
Planning and preparation of the audit scope and objectives. 

Phase 2: Risk Assessment and Business Process Analysis
Assessment, measuring, managing, and controlling IT-related risks, thus enhancing the reliability of processes and the entire information system. 

Phase 3: Audit Performance (Compliance and System Review) 
Assessment of controls over critical system platforms, network and physical components, IT infrastructure supporting relevant business processes.

Phase 4: Reporting
Report audit findings, conclusions, and recommendations of the audit in terms of conformance, non-conformance, and opportunities to improve. 

      Why CyberSRC®?

      1. We are team of qualified professionals with rich experience of multiple industries such as Manufacturing, BFSI, Insurance, Healthcare, NBFCs & others. Our consultants are industry experts and have proven track records, some of the renowned certificates that our consultants hold such as CISA, CISSP, COBIT, CEH, CCNA, OSCP, ISO 9001 LA/LI, ISO 27001, ITIL LA/LI, PMP, to name a few. 
      2. We believe in adding value to your business which is enabled through our Centre of Excellence (Coe) and, we have end-to-end capability for Program Build – Operations – Transformation. We can jump start and execute projects in Managed Services mode globally and flexible delivery models. 
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