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July 26, 2023, 00:00 GMT
Focused on client security, customer safety and employee accountability.
LETHBRIDGE, AB, CANADA, July 25, 2023/EINPresswire.com/ -- In a significant milestone for Canadian fintech leader thirdstream, the company has recently obtained Service Organization Control (SOC) 2 Compliance Certification. As a distinguished identity verification and deposit and lending solution platform provider, thirdstream reaffirms its commitment to its valued clients, reinforcing the company's dedication to maintaining the highest of service. The certification validates that all system requirements have been meticulously met, adhering to the trust services criteria relevant to the American Institute of CPAs (AICPA) security standards. This announcement reflects thirdstream's ongoing endeavor to prioritize client security and ensure the utmost safety for clients, consumers, and employees.
SOC 2 is an exhaustive auditing procedure designed to guarantee that third-party service providers and organizations can effectively and securely manage data, safeguarding the interests and privacy of their clients. The journey towards achieving SOC 2 Compliance commenced at thirdstream with a proactive approach, as the IT, Finance, and HR teams collectively set out to enhance the overall data security policies. Thirdstream received the issued report, culminating in the official SOC 2 compliance status in June, 2023.
Thirdstream CEO Keith Ginter emphasized the importance of completing the SOC 2 certification and its significance for the company's operations. "By successfully completing our SOC 2 report, we send a clear message to clients - that we take paramount care of sensitive data and have established comprehensive, organization-wide controls, delivering effective safeguards. Our IT, development, project execution, finance, and HR teams have worked diligently to create and refine these processes."
The certification process also witnessed thirdstream's proactive approach to infrastructure monitoring, resulting in the refinement and, in some instances, establishment and regulation of policies such as codes of conduct, incident response plans, and data deletion. This comprehensive approach bolsters the company's commitment to data security and client trust.
"As we strive to be the foremost provider of deposit account onboarding and remote identity services to financial institutions, we are thrilled to receive our SOC 2 compliance report. This accreditation represents another vital step in ensuring that we securely manage client data, safeguarding the privacy of their account holders and members in our cloud environments.
Overall, we anticipate this report will drive business growth while optimizing internal compliance costs, all the while allowing us to evaluate the efficacy of our controls," added Ginter.
Established in 2004, thirdstream has evolved into a leading participant in the fintech ecosystem, providing a comprehensive suite of online and in-branch deposit account opening and lending solutions, including credit card onboarding. The company's platform ecosystem boasts a remarkable array of over 40 third-party repositories that govern onboarding, identity verification, credit decisioning, and account funding needs. Serving over 50 banks, brokerages, credit unions, and trust companies, thirdstream's impressive clientele comprises a combined asset size exceeding $600 billion and encompassing more than 3.6 million account holders. The company's digital origination services seamlessly integrate with all the leading enterprise core banking platforms.
For more information about thirdstream and its commitment to client security and data integrity, visit www.thirdstream.ca.
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