Security & Compliance

Overview

Financial services depend on trust.

Whether processing payments, managing digital wallets, issuing payment cards, or handling digital assets, organizations need confidence that customer data and financial transactions are protected by strong security controls and operate within applicable regulatory frameworks.

Nova has been designed with security and compliance as foundational principles rather than optional features. Every component of the platform is built to help organizations protect sensitive information, reduce operational risk, and meet the regulatory obligations associated with modern financial services.

While specific compliance requirements vary by jurisdiction and the services enabled for each organization, Nova provides the infrastructure needed to support secure and compliant financial operations at scale.

Security by Design

Security is integrated throughout the Nova platform.

Rather than relying on isolated security features, multiple layers of protection work together to safeguard users, organizations, and financial transactions.

These layers include:

• Identity verification
• Strong authentication
• Encryption
• Access controls
• Continuous monitoring
• Fraud detection
• Audit logging
• Risk management

This defense-in-depth approach helps reduce security risks while maintaining a smooth user experience.

Identity & Access Management

Protecting user accounts begins with verifying identity and controlling access.

Depending on the services being used, Nova may support:

• Multi-factor authentication (MFA)
• Secure password management
• Session management
• Device verification
• Role-based access control
• Administrative permission management

Organizations can define user roles and permissions appropriate for their operational requirements, helping ensure users have access only to the resources they need.

Data Protection

Nova applies industry-standard security practices to protect sensitive information.

These include:

• Encryption of data in transit
• Encryption of sensitive data at rest
• Secure communication channels
• Controlled access to confidential information
• Secure credential management

These measures help protect customer information from unauthorized access while supporting data privacy obligations.

Transaction Monitoring

Financial transactions are continuously monitored to help identify unusual or potentially fraudulent activity.

Monitoring may include:

• Suspicious transaction detection
• Velocity monitoring
• Behavioral analysis
• Risk scoring
• Automated alerts
• Manual review workflows

This proactive approach helps organizations identify risks before they become significant issues.

Fraud Prevention

Nova incorporates multiple fraud prevention mechanisms designed to reduce financial crime and unauthorized activity.

Examples include:

• Authentication controls
• Identity verification
• Transaction monitoring
• Sanctions screening
• Risk assessments
• Secure administrative workflows

Fraud prevention measures are continually reviewed and updated as financial threats evolve.

Regulatory Compliance

Financial regulations differ between countries and services.

Depending on the organization's implementation and operating jurisdictions, Nova supports compliance with commonly adopted financial regulatory requirements.

These may include:

• Know Your Customer (KYC)
• Know Your Business (KYB)
• Anti-Money Laundering (AML)
• Counter-Terrorist Financing (CTF)
• Sanctions screening
• Transaction monitoring
• Ongoing customer due diligence

Organizations remain responsible for ensuring that their own business processes comply with applicable local laws and regulations.

Audit & Reporting

Transparency is essential for regulated financial services.

Nova maintains comprehensive records of platform activity to support operational oversight and regulatory reporting.

Audit information may include:

• User activity
• Login history
• Administrative actions
• Financial transactions
• Wallet activity
• Card transactions
• Reward distributions
• Configuration changes

These records help organizations investigate issues, satisfy audit requirements, and maintain accountability.

Operational Resilience

Reliable financial services require more than strong security.

Nova is designed to support operational continuity through resilient infrastructure and ongoing monitoring.

Key operational principles include:

• High platform availability
• Continuous system monitoring
• Secure backup procedures
• Disaster recovery planning
• Incident response processes
• Infrastructure redundancy where applicable

These measures help organizations maintain service continuity even during unexpected events.

Shared Responsibility

Security is a shared responsibility between Nova and the organizations that use the platform.

Nova provides secure infrastructure and platform controls, while organizations are responsible for:

• Protecting user credentials
• Assigning appropriate user permissions
• Following internal security policies
• Meeting applicable legal obligations
• Training administrators and employees
• Reporting suspicious activity promptly

Working together helps maintain a secure environment for everyone using the platform.

Frequently Asked Questions

Is Nova secure?

Yes. Nova is designed with multiple layers of security, including encryption, authentication, transaction monitoring, fraud detection, and comprehensive audit logging.

Does Nova support regulatory compliance?

Nova provides the infrastructure needed to support compliance with common financial regulatory requirements, including KYC, KYB, AML, CTF, sanctions screening, and transaction monitoring where applicable.

Who is responsible for regulatory compliance?

Nova provides the platform and supporting compliance capabilities, while each organization remains responsible for ensuring its own operations comply with applicable laws and regulations.

Is customer information encrypted?

Sensitive information is protected using industry-standard encryption and secure communication protocols.

How does Nova detect fraud?

Nova combines identity verification, authentication controls, transaction monitoring, behavioral analysis, and risk management processes to help identify and reduce fraudulent activity.

Summary

Security and compliance are fundamental to every service offered through the Nova platform.

From digital wallets and global bank accounts to payment cards, rewards, cryptocurrency, and Spendback, each capability is supported by a consistent security framework designed to protect users, safeguard financial transactions, and support regulatory compliance.

By combining layered security controls, identity verification, fraud prevention, operational resilience, and comprehensive audit capabilities, Nova enables organizations to build modern financial services on a platform designed with trust, reliability, and compliance at its core.