Business

ISO 27001 Certification Process: A Step-by-Step Guide

Published

3 years ago

November 3, 2022

The ISO/IEC 27001, popularly known as the ISO 27001 certificate is a globally recognized information security standard. It is created by the International Organization for Standardization.

Being ISO 27001 certified means that an organization is following top-notch, internationally-approved security standards. Thus, clients are able to easily trust such an organization because they know that the organization will take good care of their data. It gives the organization a competitive edge and helps it stand out from the crowd.

Applying for the ISO 27001 certification can be confusing, especially if you are doing it for the first time. But don’t worry because we are here to help you out.

This beginner’s guide will help you understand the basics of the ISO 27001 certificate and why is it important for your organization.

So, let’s get started!

The main purpose of the ISO 27001 certificate

The main purpose of this certificate is to provide a robust model for building, implementing, operating, reviewing, and monitoring an organization’s Information Security Management System (ISMS).

ISO 27001 provides a complete framework for organizations that will help them protect their data and maintain security in a cost-effective way. The ISO 27001 framework applies to organizations of all sizes and belonging to all kinds of industries.

Benefits of ISO 27001 certification

As we mentioned above, being ISO 27001-compliant has numerous benefits for an organization. Let’s have a quick look at some of them:

1. Increases customers’ trust

One of the biggest benefits of having the ISO 27001 certificate is that it helps you gain customers’ trust more easily. When you are handling a large amount of customer data and sensitive information, having the complete trust of your clients is vital.

Owning the ISO 27001 certificate demonstrates that you are capable of handling your customers’ data responsibly and securely. It also implies that you are adhering to the globally-recognized ISO standards.

2. Offers quality assurance

The ISO 27001 certificate follows a strict framework and quality checks. So, it assures your customers that you are following high standards of IT security quality. This goes a long way in helping you secure better and more profitable contracts with large businesses.

3. Strengthens your internal security

Along with giving a quality assistance to your customers, having an ISO 27001 certificate is also helpful to your organization’s internal security. While preparing for this certificate, you will have to strengthen your internal data security practices and conduct internal audits. It helps you in spotting several security loopholes in your infrastructure and remedy them effectively.

Continuous risk assessments also help you in ensuring that your business is operating as per the ISO standards. It also prevents any serious data breaches or other security issues in the future.

What is the process to be ISO 27001 compliant?

Acquiring the ISO 27001 certificate isn’t easy for any organization. It is a rigorous process designed to ensure that only the deserving organizations get it.

Here is a quick breakdown of the ISO 27001 certification process:

1. Determination of scope

To become ISO 27001-certified, an organization needs to prepare its ISMS (Information Security Management System). And for preparing a robust ISMS, the determination of its scope is essential. Businesses need to find out what type of information and assets they need to protect.

2. Analyzing your current security controls and finding gaps

Once you are clear with your scope, you need to analyze your existing security control measures. Evaluate how well your current information security measures are performing and the ways you can improve them.

You can do this by analyzing your internal policies and interviewing your IT security staff. Make sure to document all your findings for the external auditing process.

3. Risk assessment and formation of a Risk Treatment Plan

The next step is the assessment of risk. It is a basic requirement for ISO 27001 compliance and you will have to document everything you discover during the risk assessment.

Along with a thorough risk assessment, organizations also need to come up with a fool-proof Risk Treatment Plan. Devising a Risk Treatment Plan is also a necessary step for becoming ISO 27001 compliant. Such a plan acts as your roadmap and helps you mitigate all future risks effectively.

4. Collection of evidence and documentation

Collection and documentation of evidence is an important part of the ISO 27001 certification process. You will need to present all these documents during the external ISO 27001 certification audit.

How long does it take to become ISO 27001 certified?

As it is an extensive process, it can take anywhere between 3 to 12 months to become ISO 27001-certified. From starting the process to completing the ISO 27001 certification audit, the entire process can easily take one year to be completed.

Summing up

So there you go! That was our ISO 27001 beginners’ guide.

We hope you found the information presented here helpful and that we were able to offer you some useful knowledge. Having an ISO 27001 certificate can help your organization in more ways than one. So, even though the process is a bit complicated, obtaining this certificate is a wise choice.

Business

Derik Fay and the Quiet Rise of a Fintech Dynasty: How a Relentless Visionary is Redefining the Future of Payments

Published

2 days ago

October 17, 2025

Matthew Wiles

Long before the headlines, before the Forbes features, and well before he became a respected fixture in boardrooms across the country, Derik Fay was a kid from Westerly, Rhode Island with little more than grit and audacity. Now, with a strategic footprint spanning more than 40 companies—including holdings in media, construction, real estate, pharma, fitness, and fintech—Fay’s influence is as diversified as it is deliberate. And his most recent move may be his boldest yet: the acquisition and co-ownership of Tycoon Payments, a fintech venture poised to disrupt an industry built on middlemen and outdated rules.

Where many entrepreneurs chase headlines, Fay chases legacy.

Rebuilding the Foundation of Fintech

In the saturated space of payment processors, Fay didn’t just want another transactional brand. He saw a broken system—one that labeled too many businesses as “high-risk,” denied them access, and overcharged them into silence. Tycoon Payments, under his stewardship, is rewriting that narrative from the ground up.

Instead of the all-too-common “fake processor” model, where companies act as brokers rather than actual underwriters, Tycoon Payments is being engineered to own the rails—integrating direct banking partnerships, custom risk modeling, and flexible support for underserved industries.

“Disruption isn’t about being loud,” Fay said in a private strategy session with advisors. “It’s about fixing what’s been ignored for too long. I don’t chase waves—I build the coastline.”

Quiet Power, Strategic Depth

Now 46 years old, Fay has evolved from scrappy gym owner to an empire builder, founding 3F Management as a private equity and venture vehicle to scale fast-growth businesses with staying power. His portfolio includes names like Bare Knuckle Fighting Championships, BIGG Pharma, Results Roofing, FayMs Films, and SalonPlex—but also dozens of companies that never make headlines. That’s by design.

Where others seek followers, Fay builds founders. Where most celebrate their exits, Fay reinvests in people.

While he often deflects conversations around his personal wealth, analysts estimate his net worth to exceed $100 million, with some placing it comfortably over $250 million, based on exits, real estate holdings, and the trajectory of his current ventures.

Yet unlike others in his tax bracket, Fay still answers cold DMs. He mentors rising entrepreneurs without cameras rolling. And he shows up—not just with capital, but with conviction.

A Mogul Grounded in Real Life

Outside of business, Fay remains committed to his role as a father and partner. He shares two daughters, Sophia Elena Fay and Isabella Roslyn Fay, and has been in a relationship with Shandra Phillips since 2021. He’s known for keeping his personal life private, but those close to him speak of a man who brings the same intention to parenting as he does to scaling multimillion-dollar ventures—focused, present, and consistent.

His physical stature—standing at 6′1″—matches his professional gravitas, but what’s more striking is his ability to operate with both discipline and empathy. Fay’s reputation among founders and CEOs is not just one of capital deployment, but emotional intelligence. As one partner noted, “He’s the kind of guy who will break down your pitch—and rebuild your belief in yourself in the same breath.”

The Tycoon Blueprint

The playbook Fay is writing at Tycoon Payments doesn’t just threaten incumbents—it reinvents the infrastructure. This isn’t another “fintech startup” with a flashy brand and no backend. It’s a strategically positioned venture with real underwriting power, cross-border ambitions, and a founder who understands how to scale quietly until the entire industry has to take notice.

In an age where so many entrepreneurs rely on noise and virality to build influence, Fay remains a master of what can only be called elite stealth. He doesn’t need the spotlight. But his impact casts a long shadow.

Conclusion: The Empire Expands

From Rhode Island beginnings to venture boardrooms, from gym owner to fintech force, Derik Fay continues to build not just businesses—but a blueprint. One rooted in resilience, innovation, and long-term infrastructure.

Tycoon Payments may be the latest chess piece. But the game he’s playing is bigger than one move. It’s a long game of strategic leverage, intentional legacy, and generational wealth.

And Fay is not just playing it. He’s redefining the rules.