As regulators increase scrutiny on financial institutions and their vendors, the success of this examination proves ZSuite’s commitment to excellence in handling client and consumer data.
WESTWOOD, Mass.–(BUSINESS WIRE)–#Fintech—ZSuite Tech (ZSuite), a financial technology company that powers financial institutions with unbound digital accounts encompassing escrow, sub-accounting, sub-ledgering, FBO, and trust accounts for commercial customers, today announced the successful completion of its SOC 2 (Systems and Organizations Controls 2) Type 2 examination for Security with an unqualified result. This acheivement reflects the company’s commitment to the highest levels of data security.
As a provider of financial technology to financial institutions, the robustness of ZSuite’s security systems and processes cascades out to each partner that relies on a ZSuite product for their business operations. The SOC 2 Type 2 examination tests if a company upholds proper data security procedures over a period of time, ensuring sustained compliance rather than a momentary achievement.
“Our clients hold their vendors and partners to a high standard,” commented ZSuite’s Chief Financial Officer, Jeff Vanlandingham. He continued, “Our SOC 2 Type 2 examination demonstrates that everyone in our company is working to maintain compliance on a daily basis, ensuring peace of mind for our clients and stakeholders.”
Aaron Junod, ZSuite’s Chief Technology Officer, spoke to the SOC 2 Type 2 examination as it relates to the company’s future, “The data security of our clients is a point of pride and trust that ZSuite will continue to protect as we grow our platform and build out new features. Our security team worked in collaboration with our audit partner Laika. I’m deeply proud of this achievement. It speaks volumes to our current and future clients about the caliber of company we’re building.”
About SOC 2 Type 2
This standard was created by the Association of International Certified Professional Accountants (AICPA) in 2010. It provides auditors with a framework to evaluate how well an organization’s security protocols function – for SOC 2 Type 1, it looks at a single point in time, whereas SOC 2 Type 2 examines the effectiveness over a 3-12 month period. An organization that desires to receive an unqualified report must follow specific procedures for handling customer data, including data stored in the cloud. The purpose of a SOC 2 audit is to provide evidence of trustworthiness for service providers, their customers, and end-users.
About ZSuite Tech
ZSuite Tech is a financial technology company that equips banks with digital escrow and subaccounts to attract clients in specific commercial verticals. Banks partner with ZSuite to gain low-cost core deposits, operate more efficiently, and expand their commercial portfolios.
To learn more about ZSuite Tech and how it can help your financial institution, please visit https://www.zsuitetech.com.