Cyberlogic, in association with ENS, is helping Financial Institutions (FIs) across South Africa navigate an evolving regulatory landscape that demands operational resilience, sound governance, and robust cyber security. At the centre of this shift is the Financial Sector Conduct Authority’s (FSCA) and Prudential Authority’s (PA) Joint Standard 2 of 2024 (JS2), a pivotal regulatory instrument that sets out legal obligations for cyber security and cyber resilience matters relating to governance, risk management, and outsourcing within FIs.
JS2 is not just another compliance hurdle; it is a structured mandate for the financial services sector to take a proactive, strategic approach to cyber risk, cyber security, and business continuity. For many FIs, aligning with this standard presents both a challenge and an opportunity. Through our work in association with ENS, we are enabling FIs of all sizes to navigate the practical implications of JS2, embedding the capabilities required to meet its demands without compromising agility or operational focus.
“JS2 requires FIs to demonstrate fit-for-purpose governance and risk management frameworks that are embedded into the business and actively monitored.”
JS2 requires FIs to demonstrate fit-for-purpose governance and risk management frameworks that are embedded into the business and actively monitored. This includes:
The FSCA and PA are clear: Compliance must be demonstrated through evidence-based practices. FIs must prove that their governance policies aren’t just on paper, but are embedded into how the organisation operates, with oversight, ownership, and continuous improvement.
Despite their intent to comply, for many FIs, legacy systems, fragmented processes, and unclear cyber risk ownership create significant barriers to effective JS2 alignment.
Most FIs take a reactive approach to security, addressing issues only after they arise, rather than adopting a continuous, proactive mindset. Being secure is not an end state, but an ongoing activity that requires constant vigilance and adaptation. This shift from reactive to proactive security is critical for successfully meeting the demanding standards of JS2.
Key Insight: The shift from reactive to proactive security is critical for successfully meeting the demanding standards of JS2.
Complicating matters further, many FIs already operate under cyber-related obligations from frameworks like POPIA, the Cybercrimes Act, and others. As a result, some may view JS2 as redundant or even excessive, mischaracterising it as ‘overkill’ rather than recognising it as a complementary framework that elevates existing controls. This misunderstanding can stall alignment efforts before they begin.
Common challenges include:
This is where Cyberlogic steps in, not simply as a service provider, but as a strategic partner committed to bridging the gap between compliance intent and operational reality.
Our approach, developed in exclusive association with ENS, ensures compliance across Legal, People, Process, and Technology (LPPT), embedding compliance standards and requirements from the outset.
Want to understand the LPPT Framework in depth? Learn how Cyberlogic and ENS are helping FIs build cyber resilience using practical analogies and real-world strategies. Read: Navigating Joint Standards and Overlapping Compliance Frameworks →
“A compliance approach that does not include a gap analysis might leave critical regulatory blind spots, especially since different FIs have different boards, IT environments, and risk exposures.”
Cyberlogic, through its exclusive partnership with ENS, offers the only collaborative approach to ensure JS2 compliance in South Africa. By combining technical expertise with market-leading legal and regulatory insight, we deliver holistic, practical solutions that address the technology needs and the governance, risk, and compliance imperatives FIs face.
With almost three decades of experience supporting South African businesses, Cyberlogic is trusted by institutions that demand the highest standards to provide pragmatic advice and deliver measurable outcomes with clarity, action, and long-term impact.
As regulatory scrutiny intensifies, JS2 compliance will become a defining benchmark for operational trust, market credibility, and sustainable growth in the financial services sector.
FIs that act early and strategically can turn compliance into a competitive advantage, reducing risk, increasing resilience, and strengthening stakeholder confidence.
Cyberlogic is ready to help you take that step.
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Joint Standard 2/2024: What South African Financial Service Providers Must Know
