FundingShield, a fintech focused on wire and title fraud prevention in the financial services market, announced its successful completion of its SOC 2 audit.
The SOC 2 audit was conducted by compliance assessor A-LIGN, a technology-enabled security and compliance partner trusted by more than 2,500 global organizations to help mitigate cybersecurity risks.
“We are pleased to have achieved the SOC 2 certification,” FundingShield CEO Ike Suri said in a release. “The SOC 2 framework provides an additional measure of our information security and process controls in managing mission critical applications for the financial services industry. As a cybersecurity and fraud prevention company, the SOC framework is a baseline level of security that we meet and continue to exceed as we help our clients deal with increased cyber threats from bad actors around the globe. Achieving this certification is one reflection of the many steps we take to address the security needs of our current and future clients.”
Established by the American Institute of Certified Public Accountants, the SOC 2 examination is designed for organizations of any size, regardless of industry and scope, to ensure the personal assets of their potential and existing customers are protected. SOC 2 reports are recognized globally and affirm that a company’s infrastructure, software, people, data, policies, procedures, and operations have been formally reviewed.
The auditors confirmed that FundingShield designed and implemented effective security controls of its systems.
FundingShield said it will perform an SOC 2 assessment on an annual basis and can make the report available to current or potential customers upon execution of a non-disclosure agreement.