On July 21st, 2025, the Bermuda Monetary Authority (BMA) published its second consultation paper outlining a proposed framework for Digital Identity Service Providers (DISP).
The paper covers how DISPs will be regulated crucially including cybersecurity requirements, compliance and governance practices, and even disciplinary measures for non-compliance.
The goal of this framework is to strengthen security support innovation, and ensure consumer protection in Bermuda’s digital ID ecosystem, but where does that leave businesses?
As digital and cybersecurity regulations continue to shift and take form, it may raise critical questions: Do you have the right policies, controls, and oversight in place? Do you have leadership able to steer your business through these unchartered waters, informing and guiding your cybersecurity strategy at the executive level?
With deep expertise in cybersecurity, compliance, and IT strategy, Gnosis is already prepared to support Bermuda-based organizations in navigating these changes. We want to ensure that businesses can not only keep up with and adapt to this potential framework, but grow, too.
Our unparalleled vCISO service helps Bermuda businesses align their security programs with local and global standards, and offers:
· Regulatory readiness advisor help you meet any licensing and governance obligations
· Ongoing compliance monitoring and training for long-term assurance
· Strategic cybersecurity leadership without the cost of a full-time CISO
· Policy development, security infrastructure reviews, and board-level reporting
As Bermuda embraces it’s evolving digital identity, businesses that invest in strong governance and proactive security will be bestpositioned to thrive.
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Gnosis is Bermuda’s Leading Managed Service Provider
Founded in 2018 with the belief that Bermuda businesses deserve market-leading business and technology consultancy services with client needs in mind. Gnosis’ expert accountancy team provides a range of short-term and long-term accounting solutions to help power your business.
Our qualified consultants can support your organization through an ever-changing business landscape, from staff departures and maternity cover to additional resources for project work. Our flexible approach ensures you and your team receive the most cost-effective, tailored solution to suit every need.
If you’d like to learn more about how we can help support your business’ accounting needs, get in touch with our team today.
