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The Challenge

The online payments sector is one of the most dynamic markets in the financial world. It’s come on leaps and bounds in the past decade, with advancements in technology constantly pushing the boundaries of what’s possible. If merchants are to grow and be successful, they need to present a variety of payment options. Mollie helps merchants tackle this challenge, offering a simple and clear API that offers multiple payment methods in a concise, uniform way. However, beyond the technology, there are a number of compliance, security and risk challenges that the online payments sector faces. When Mollie partnered with SureCloud, the company already had a dedicated risk and compliance function, but its technology supporting the team needed to be modernized if the company was to take advantage of the growth opportunities it had identified. The company’s primary focus was around integrity, IT, cyber, operational and data privacy risk, and Mollie needed a platform to monitor and manage all aspects in an easy, simple way before they began their program expansion. Mollie wanted an end-to-end solution that would allow them to easily link data together and spot control gaps. User experience was of paramount importance, and Mollie wanted an interface that even non-compliance/risk employees would be able to use effectively with minimal training.

SureCloud’s Risk Management and Compliance Solution

SureCloud’s solution is designed to help organisations like Mollie tie disparate processes together, while fully integrating them in an easy-to-use risk and compliance solution. The primary goal is to eliminate duplicate work, lower administrative overhead, eradicate manual reporting, and reduce the need for additional manual communications such as email-based instructions. This results in better record-keeping, easier decision-making, and the ability for the business to demonstrate how risk, compliance, security and data privacy impact the organisation today and any future growth plans. Through SureCloud, businesses can effectively demonstrate and manage regulatory compliance requirements with an interactive dashboard that displays connections to controls assessments, risk and remedial actions.

The Result

Within the next year, Mollie hopes to achieve real visibility of risk and compliance throughout the organization, fully automated control monitoring, and a shift in their processes to become more data-driven. These are Mollie’s key metrics of success, and so far, the organization is well on track to achieving them with SureCloud. Eline van der Lugt, Head of Risk at Mollie, said, “In SureCloud, we’re delighted to have found a partner that shares our culture and vision, as well as our appetite for simple, clear communication. SureCloud’s solution has helped us take things to the next level at Mollie. We’re already enjoying better visibility with more detailed information and insights, and this is only the tip of the iceberg in terms of what will be possible as we continue with the implementation.” Eline continued, “In an age where compliance and data security are of paramount importance, financial organizations like ours must demonstrate that we’re in control. SureCloud is helping us to gain that control and demonstrate it in a clear, organized way. We’re still in the deployment phase at the moment, but we can already see the incredible potential and we can’t wait to continue to the rollout; the implementation and support team have been extremely helpful.”

“ SureCloud’s technology will help us gain a holistic view of our risk and compliance program, enabling us to identify our priorities for the coming year more easily. Knowing where we need to focus from the gap analysis can then allow for some quick wins, resulting in better engagement from our stakeholders as we begin to demonstrate value back to the business. These benefits should ensure an accelerated return on our investment and allow us to create a more effective strategy longer term. ” Eline van der Lugt, Head of Risk at Mollie

About SureCloud

SureCloud is a provider of Gartner recognized GRC software and Cyber & Risk Advisory services. Whether buying products or services, your organization would benefit from automated workflows and insight from the award-winning SureCloud platform. All of SureCloud’s service offerings are fully compatible with the GRC suite of products enabling a seamless integration of information, taking your risk programs to the next level.

About Mollie

Mollie is one of the fastest growing online payment solutions providers within Europe, helping merchants of all sizes grow at their own pace by facilitating a variety of payment methods. Founded in the Netherlands in 2004, the company was initially set-up to facilitate payments via SMS text messages. Today, they have a 350-strong team operating in 4 different countries and service more than 100,000 merchants daily.

 

You can download the full case study below and find out how SureCloud helped Mollie…

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Mollie Case Study

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