Compliance
Our commitment to meeting regulatory requirements and industry standards in the financial technology space.
Our Compliance Framework
At Technexus, compliance isn't merely about meeting requirements—it's about establishing trust with our clients, partners, and regulators. We've built our compliance framework to ensure our lending technology platform operates with integrity and transparency in all aspects of our business.
Our approach to compliance is proactive and comprehensive, addressing not only current regulatory requirements but also anticipating future developments in the rapidly evolving financial technology landscape.
Regulatory Compliance
Meeting the standards set by financial regulatory authorities
Financial Consumer Agency of Canada (FCAC)
Our platform is designed with consumer protection in mind, aligning with FCAC guidelines for transparency, disclosure, and fair treatment of consumers in financial transactions.
AML & KYC Procedures
We implement robust Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures to verify customer identities and prevent financial crimes, in accordance with FINTRAC requirements.
OSFI Guidelines
For our financial institution partners, we ensure our technology aligns with the Office of the Superintendent of Financial Institutions (OSFI) guidelines, particularly regarding risk management and technology governance.
CLA Membership (Future)
We are planning to begin discussions to become a product member of the Canadian Lenders Association (CLA). This future membership will help us stay at the forefront of lending innovation while adhering to industry best practices and standards.
Data Protection Compliance
Safeguarding personal and financial information through comprehensive data protection measures
PIPEDA Compliance
We adhere to the Personal Information Protection and Electronic Documents Act (PIPEDA), ensuring proper collection, use, and disclosure of personal information in our commercial activities.
Provincial Privacy Laws
We comply with provincial privacy legislation, including Quebec's Law 25, British Columbia's PIPA, and Alberta's PIPA, ensuring consistent protection across all Canadian jurisdictions.
Consumer Privacy Framework
Our privacy framework includes clear consent mechanisms, purpose limitations for data collection, and transparent privacy policies to ensure users understand how their information is handled.
Data Breach Response
We maintain a comprehensive data breach response plan, including notification procedures and remediation strategies, to address potential security incidents promptly and effectively.
Industry Standards & Certifications
Pursuing industry-recognized certifications to validate our security and compliance measures
SOC Certifications (In Progress)
We are currently in the preparatory phase for both SOC 1 and SOC 2 Type II certifications. These certifications will validate our controls related to financial reporting, security, availability, processing integrity, confidentiality, and privacy.
We expect to begin the formal SOC assessment process in the coming months and are committed to achieving these important industry certifications to further demonstrate our dedication to security and compliance.
ISO 27001 (Future Planning)
We are following ISO 27001 principles in our information security management system design and plan to pursue formal certification in the future as our organization grows. This international standard will help us systematically manage information security risks and protect sensitive information.
PCI DSS Compliance (For Payment Processing)
We adhere to Payment Card Industry Data Security Standard (PCI DSS) requirements for any payment processing functionality, ensuring the secure handling of payment card information through our trusted payment processing partners.
Compliance Governance
Our compliance framework is integrated throughout our organization, with oversight at every level:
Board Oversight
Our board provides ultimate oversight of our compliance program, regularly reviewing compliance reports and risk assessments to ensure the company meets its regulatory obligations.
Compliance Team
Our dedicated compliance team is responsible for implementing our compliance program, monitoring regulatory changes, conducting risk assessments, and providing guidance on compliance matters.
Regular Audits & Assessments
We conduct regular internal compliance audits and engage third-party experts to assess our compliance program's effectiveness and identify areas for improvement.
Training & Awareness
All employees receive regular compliance training to ensure they understand their roles in maintaining compliance and can identify and address compliance issues effectively.
Our Commitment to Compliance
At Technexus, our goal is not just to meet regulatory requirements but to exceed them. We believe that strong compliance practices are essential for building trust with our clients, partners, and regulators.
We continuously monitor the regulatory landscape and adapt our compliance program to address new requirements and emerging risks. This proactive approach ensures that our lending technology platform remains at the forefront of compliance excellence.
Contact Our Compliance Team