SOC 2 Compliance in Berlin
Berlin is Europe's largest FinTech hub with over 1,000 FinTech startups and major players like N26 (€9B+ valuation), Trade Republic (15M+ customers), Solaris (Banking-as-a-Service), Raisin (€50B+ deposits brokered), and Bitpanda. The city hosts more FinTech unicorns than any other European capital. With many of these companies scaling rapidly from startup to regulated financial institution, the need for robust compliance frameworks — particularly DORA and BaFin licensing requirements — has never been more urgent.
Request a demoWhy SOC 2 matters in Berlin
SOC 2, developed by the AICPA, evaluates how organizations manage customer data based on five Trust Services Criteria: security, availability, processing integrity, confidentiality, and privacy. Type II reports — covering 6-12 months of operating effectiveness — are increasingly required by enterprise clients and partners worldwide.
Berlin's FinTech companies face a unique challenge: they've built technology-first businesses that now must retrofit compliance into fast-moving engineering cultures. N26 received a €4.25M BaFin fine in 2021 for AML deficiencies — a cautionary tale for the ecosystem. Trade Republic, processing millions of trades daily, must demonstrate DORA-compliant ICT risk management. Crypto-asset service providers like Bitpanda fall under DORA via MiCA, adding another compliance layer. For Berlin's startups, automated compliance isn't a luxury — it's the only way to scale without drowning in regulatory overhead.
Supervisory Bodies
BaFin
Key Industries
- FinTech & Neo-Banking
- Crypto & Digital Assets
- Payment Services
- Banking-as-a-Service
Notable financial institutions in Berlin
SOC 2 Key Requirements
Related Resources
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