What is SOC 2 & why is it iimportant?
SOC 2, or Service Organisation Control 2, is a framework governed by the American Institute of Certified Public Accountants (AICPA). An independent service auditor reviews an organisation’s policies, procedures, and evidence to determine if their controls are designed and operating effectively. A SOC 2 report communicates a company’s commitment to data security and the protection of customer information.
Improving your security posture
Achieving SOC 2 compliance exemplifies an organisation’s dedication to its customers’ trust and marks a significant milestone in enhancing overall security posture. In an era of increasing cybersecurity threats and data breaches, prioritising information security and system protection is crucial. By undergoing a SOC 2 audit, our controls and processes were validated by a third-party auditor, who attested to the effectiveness of the controls relevant to our application.
Why we pursued SOC 2 now
SOC 2 compliance is vital for demonstrating to customers, stakeholders, and interested parties that our organisation values their trust and has effectively implemented security controls. At our company’s current stage, we recognised the importance of protecting data and mitigating potential security risks early and consistently.
Manage Your Loans’ journey to SOC 2 compliance
Company Stage and Commitment to Trust
As a growing company, Manage Your Loans is deeply committed to our customers’ trust. Achieving SOC 2 compliance was a strategic decision to ensure our security measures align with industry standards and provide our customers with confidence in our data protection capabilities.
Dedication to Improving Security Posture
We are dedicated to continuously improving our security posture. By completing the SOC 2 audit, we have validated our commitment to robust security practices and the protection of customer data. This achievement aligns with our company goals of safeguarding sensitive information and ensuring compliance with industry regulations.
Company Goals with Completing SOC 2
Completing the SOC 2 audit underscores our goal of providing a secure and trustworthy service to our customers. Our objectives include mitigating risks, enhancing data protection, and establishing a strong security foundation to support our business growth.
Compliance Partners
• Vanta
We partnered with Vanta, a leader in the Trust Management space, to automate the collection of our audit evidence. Vanta provides us with a robust security foundation to protect our customer data.
• Advantage Partners
Our audit firm, Advantage Partners, played a crucial role in creating a seamless audit experience. With their guidance and support, we achieved SOC 2 compliance swiftly and efficiently.