# DPO for Finance, Fintech & Insurance Israel | Banks, Credit, Investments & Crypto > DPO services for finance, fintech and insurance in Israel: mid-size banks, credit card companies, insurance, investment houses, lenders, fintech and crypto. Double regulation: Amendment 13 + Bank of Israel proper banking management + Capital Market Authority regulation. Combined GRC with CISO + DPO, PCI DSS, and ISO 27001 compliance. **Canonical:** https://dpoisrael.com/en/sectors/finance/ **Locale:** en-IL --- Double regulation — Amendment 13 + Financial Supervision # DPO for Finance and Fintech. **Mid-size banks, credit card companies, insurance, investment houses, lenders, fintech and crypto** face Israel’s densest regulatory framework: **Amendment 13** + Bank of Israel proper banking management + Capital Market Authority regulation + AML/KYC + PCI DSS. Expanded **GRC support** with CISO + DPO + compliance with all standards. ## Finance — what to know - **Primary regulation:** Amendment 13 + Banking Mgmt 361 + CMC - **Standards:** ISO 27001 + PCI DSS + ISO 27701 - **Required roles:** DPO + CISO (usually both) - **Incident reporting:** Complex — Authority + BoI + card network - **AI requirements:** DPIA for every underwriting / scoring system - **Small fintech retainer:** 12,000-20,000 ILS — GRC - **Mid company retainer:** 18,000-32,000 ILS - **Small bank retainer:** 25,000+ ILS ## Regulatory framework — who checks what | Regulator | Framework | Focus | | --- | --- | --- | | Israeli Privacy Authority | Amendment 13 + 2017 Regulations | All databases, DPO, incidents, reporting | | Bank of Israel — Banking Supervision | Proper Banking Management 357, 361, 362 | Information security, cyber security, risk management | | Capital Market, Insurance & Savings Authority | CMC directives | Insurance, pension, savings companies | | Israel Securities Authority | Public Company Regulations | Reporting, internal auditor, audit committee | | Money Laundering Authority | AML/KYC | Customer records, reporting, retention | | PCI DSS | International standard | Every entity processing credit cards | ## Six issues unique to finance ### Double regulation, sometimes triple Small bank: Amendment 13 + Bank of Israel proper management + AML + PCI DSS + sometimes GDPR if EU-active. ### Bank of Israel high-security requirements Proper Banking Management 361 requires full Information Security Management System (ISMS), internal audits, periodic reporting. ### Fintech and crypto New industry companies with evolving regulation. Combination of Amendment 13 + dedicated CMC regulation + international standards. ### Credit and risk data Credit scoring databases, payment behavior, customer opinions. Sensitive personal-financial data — specific laws on sharing and retention. ### AI for underwriting Systems automatically deciding loan / credit / insurance approval. Automated decisions = mandatory DPIA + explainability concern. ### Open Banking Clearing law, PSD2 indirectly, data sharing between banks and third parties. Requires BAA and controlled OAuth scopes. ## Services fit for finance ### DPO + CISO in one bench Finance requires two synchronized role-holders. [GRC + Privacy package](/en/services/grc-privacy) is the right path. ### Information Security Management System (ISMS) Per ISO 27001 + Bank of Israel Directive 361. Full documentation, periodic risk assessments, controls. ### PCI DSS support For credit card processing — PCI DSS compliance, QSA audit preparation, SAQ review. ### DPIA for AI and automated decisions [Impact assessment](/en/services/dpia) for underwriting, credit scoring, antifraud, personalization. ### Supervisor audit response Bank of Israel, Capital Market Authority, and Securities Authority all conduct audits. DPO manages the privacy aspect. ### Complex incident reporting Incident in a small bank = report to Privacy Authority + Bank of Israel + sometimes public. Critical professional coordination. ## Frequent questions from finance industry ### We are a small fintech — need a DPO? Usually yes. Even a small fintech with 5,000 users = financial data processing at scale. CMC requires fintech licensing including security and privacy framework. And institutional customer tenders typically require registered DPO. ### How does Amendment 13 align with Bank of Israel? Amendment 13 focuses on **privacy** and DPO appointment. Bank of Israel directives focus on **information security and cyber** and CISO appointment. They complement. In mid-size financial organizations we offer both roles — [in an integrated GRC package](/en/services/grc-privacy) or via partnership with an existing external CISO. ### We process credit cards — what are the requirements? PCI DSS mandatory for anyone processing credit cards. Not a substitute for Amendment 13 — additional. [GRC + Privacy package](/en/services/grc-privacy) handles both standards together. ### Do you have fintech / crypto experience? Yes. We work with fintech in lending, investment platforms, digital currencies, and financial services companies. The industry requires speed and flexibility that traditional organizations don’t always provide. ### What about incident reporting in finance? More complex than standard. A security incident involving credit card data = report to Privacy Authority + Bank of Israel + payment network (Visa/Mastercard) + sometimes customers. [Incident response](/en/services/incident-response) in finance includes coordination across all parties. ### How much does it cost? Small fintech — 12,000-20,000 ILS/month (usually GRC package). Mid insurance / investment house — 18,000-32,000 ILS/month. Small bank — starts at 25,000 ILS+ depending on size. ## CEOs, CISOs, CCOs — let's talk. 30 minutes, understand the regulatory framework, propose a specific roadmap. [Book a call](/en/contact)