Moneytree launches public bug bounty program with Bugcrowd
The Fintech company with operations in Japan and Australia is expanding its existing private program for all available security researchers within Bugcrowd
SAN FRANCISCO — April 19, 2018 — Bugcrowd, the leader in crowdsourced security, today announced that its customer Moneytree, Asia-Pacific’s leading financial data aggregation and portability platform, has launched a public bug bounty program to fortify security across its website, API and mobile applications.
Moneytree’s public program will enable the company to scale the success of its existing private program by tapping into Bugcrowd’s global network of security researchers. The company, which currently operates in Japan and Australia, will reward security researchers with up to US$5,000 per valid vulnerability discovered, depending on the impact and the severity of vulnerabilities identified across these assets.
Commenting on the launch of the public program with Bugcrowd, Ross Sharrott, Moneytree CTO and co-founder said: “As a financial technology company bringing individuals and financial institutions closer together, we have a relentless commitment to data security. Our public program with Bugcrowd goes hand in hand with this commitment and with providing our users with peace of mind that their financial information is protected by adhering to bank-level data security.”
Financial organizations have long been the target of motivated adversaries attempting to steal large amounts of money and personal information. By partnering with Bugcrowd, Moneytree is able to receive adversarial feedback across its digital assets to ensure a more secure customer experience for its users.
“Working with Bugcrowd through our private program has been a great validator of our overall approach to security. Bugcrowd’s testing best practices are extremely well polished, they have had an immediate impact on the security of our product, and they stand true to our core values of security, transparency, and privacy,” Mr Sharrott added.
“In this new era of connected banking, it is motivating to see a progressive Fintech institution like Moneytree adopt a ‘privacy by design’ mindset,” said Ashish Gupta, CEO, Bugcrowd. “Moneytree is empowering its users for financial success by building trust into its security measures. By taking their bug bounty program public, Moneytree is gaining a global security workforce that is providing their platform and its users with 24/7/365 protection.”
Industry-leading organizations, including Samsung, Mastercard, Fitbit, Western Union, and Square rely on Bugcrowd’s deep security expertise and experience managing bug bounty programs. For a list of public programs, visit: https://bugcrowd.com/programs.
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Bugcrowd is trusted by more of the Fortune 500 than any other crowdsourced security platform. Why? Because people need the increased security of a bug bounty without all the extra work and chaos. Bugcrowd cracked the code on crowdsourced security through rock solid program management, top trusted researchers and an integrative platform. That’s how our vulnerability disclosure and bug bounty programs find seven times as many critical vulnerabilities as traditional testing. Based in San Francisco, Bugcrowd is backed by Blackbird Ventures, Costanoa Ventures, Industry Ventures, Paladin Capital Group, Rally Ventures, Salesforce Ventures and Triangle Peak Partners. Bugcrowd. Outhack Them AllTM. Learn more at www.bugcrowd.com.
Moneytree is a financial data aggregation and portability platform, comprised of a personal financial management app, and an user-permissioned API feed of customer data for financial institutions. Available in Australia and Japan, Moneytree’s free app enables individuals to have a full view of their financial position, contributing to better management of their personal finances, and helping to maintain their financial wellbeing. Moneytree is available for desktop web, iOS, and Android devices.
Moneytree’s solution for financial institutions, Moneytree LINK, launched in 2015. It currently has over 35 enterprise customers, including Japanese megabanks Mizuho Bank Ltd and Sumitomo Mitsui Banking Corporation, as well as seven top-ranked regional banks. Moneytree LINK also powers ten accounting service providers, including the market leaders in consumer and corporate accounting, making it Japan’s leading financial data platform. By providing access to high quality financial data, Moneytree’s institutional clients can better service their customers. Learn more about Moneytree here.