Compliance is critical for fintech companies, but achieving SOC 2 certification can be a costly, time-consuming hurdle.

PayLynxs, a leader in financial crime, fraud detection and BSA automation for depository institutions, needed an efficient way to achieve compliance without derailing operations or inflating costs. With Strike Graph, they cut compliance prep time in half, eliminated sales friction, and set up a scalable compliance framework for future growth.

Challenges

Before implementing Strike Graph, PayLynxs faced a significant barrier: achieving SOC 2 compliance. Without this certification, selling to clients (especially larger clients) proved challenging, limiting their ability to scale the business.

Key challenges:

• Lack of SOC 2 compliance hindered business growth, but it seemed out of budget to hire a consulting firm to become compliant the traditional way.
• Difficulty in collaborating on security compliance efforts effectively - had previously relied on a manual TWiki 
• Needed a structured approach to meet and maintain SOC 2 Type 1 and Type 2 requirements.

"Our previous system was basically a glorified spreadsheet—it was a lot to maintain. That’s why we moved to the Strike Graph platform.” – Matt Conine, President & CEO, PayLynxs

The evaluation process

While evaluating compliance solutions, PayLynxs initially considered other vendors, including Vanta. However, they quickly realized that other providers offered a different model that required hiring an external CPA firm— adding complexity and additional costs. PayLynx was also hesitant about managing two vendor relationships. 

Then PayLynxs found Strike Graph. With Strike Graph, everything is in one place—a solution that streamlines compliance with strategic AI technology, simplifies vendor management, and stays within budget.

Matt Conine, President and CEO at PayLynxs and who sets the overall strategic direction and compliance efforts, said:

​​“We evaluated other providers to help us meet the need of being SOC2 certified. Strike Graph provided a complete package that made sense for us—everything we needed in one place.”

Why PayLynxs chose Strike Graph over the Competition:

• Comprehensive compliance package – Included both the compliance management platform and CPA auditing, eliminating the need for multiple vendors.
• Cost-effective pricing – The bundled offering made financial sense for their business.
• Team accessibility – Allowed the entire team to collaborate seamlessly within a single platform.
  
  

The Solution

PayLynxs turned to Strike Graph’s GRC platform to streamline their compliance journey. The platform provided a structured, centralized approach to organizing security controls, automating key tasks, and simplifying evidence collection.

Key Strike Graph features that have contributed to their success:

• Centralized platform – Allowed multiple team members to collaborate and track progress in one place.
• Seamless integrations – Easy onboarding process and integration setup with minimal disruption to existing workflows. Helped keep evidence items up to date and streamlined audit preparation.
• Guided evidence collection – Clear guidance on what evidence was required for SOC 2 compliance, making audits more efficient.
• Automated compliance management – Built-in reminders and automation reduced the manual effort required for compliance tasks.
• Dashboards & reporting – Helped proactively manage expiring controls and ongoing compliance efforts.
  
  

“Strike Graph provided a platform that logically structured all of our compliance information, with automation and reminders built in. It made compliance management much easier and allowed us to delegate tasks efficiently.”

– Matt Conine, President & CEO, PayLynxs

The Results

“We experienced a 50% reduction in compliance prep time” said Conine, when reflecting back on their experience with Strike Graph.

With Strike Graph, PayLynxs successfully navigated the complexities of SOC 2 compliance, improving its security posture and setting the foundation for long-term compliance success.

Key Outcomes:

• Achieved SOC 2 compliance for the first time.
• Cut compliance preparation time in half.
• Reduced sales friction when working with larger financial institutions.
• Enabled continuous compliance, spreading out efforts over the year instead of last-minute preparation.
• Strengthened trust with enterprise clients, enabling smoother sales conversations.
  
  

“When trying to sell to a multi-billion-dollar financial institution, the compliance barrier is just gone. We no longer have to justify exceptions, which removes friction from sales and vendor relationships.”
– Matt Conine, President & CEO, PayLynxs

Why PayLynxs Recommends Strike Graph

PayLynxs highly recommends Strike Graph to organizations looking to simplify security compliance. According to Matt Conine, the platform stands out due to its ease of use, excellent customer support, and all-in-one compliance management capabilities.

Advice for Other Organizations:

• Strike Graph is an easy-to-use compliance solution with great customer support.
• It provides an all-in-one platform to manage evidence, controls, and security frameworks.
• Continuous compliance tracking prevents last-minute surprises and helps maintain a steady workflow.
  
  

“When we finished the audit, we were all surprised. Our CTO said, ‘I can’t believe we’re done,’ and I felt the same way. The process was smoother than we ever expected.” 
– Matt Conine, President & CEO, PayLynxs

Looking Ahead

With their SOC 2 compliance journey underway, PayLynxs is now well-positioned to maintain compliance efficiently year over year. The ability to continuously monitor expiring controls, update evidence, and delegate tasks has given the team peace of mind and reduced last-minute compliance efforts.

As they continue to leverage Strike Graph’s AI-powered platform, they expect further efficiencies and an even smoother audit process in the future.

For more information on how Strike Graph can help your business achieve compliance success, visit www.strikegraph.com.