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BridgeFT, a cloud-native, API-first wealth infrastructure software company that enables financial institutions, fintech innovators and registered investment advisors (RIAs) to deliver better, data-driven outcomes for their clients, announced today that it has successfully completed its SOC (System and Organization Control) 2 Type II audit.
Developed by the American Institute of Certified Public Accountants (AICPA), a SOC 2 information security standard is a report that validates controls relevant to security, availability, integrity, confidentiality, and privacy. The SOC 2 Type II certification ensures service providers meet a standard degree of security control in areas including organization and management, communications, risk management and monitoring of controls.
The audit was completed with the help of Johanson Group LLP, a premier certification body helping organizations to obtain and maintain global compliance standards. Johanson Group attested to BridgeFTs information security controls meeting the leading industry standards for financial services. Throughout the process, Johanson Group measured the availability, security, and integrity of BridgeFTs WealthTech API and its data processing systems to ultimately determine whether effective safeguards and controls are in place. SOC 2 has a rigorous requirement on how companies handle customer data and information, and it is considered one of the highest standards for security accreditation.
With this achievement, BridgeFT maintains its adherence to one of the most stringent, industry-accepted compliance frameworks for service organizations and provides additional assurance to its clients, through an independent auditor, that its business process, information technology and risk management controls are properly designed and operating as intended.
Achieving SOC 2 compliance is a major milestone for our company and an important indicator of how seriously we take data security, said BridgeFT Chief Executive Officer Joe Stensland. Were committed to delivering the highest level of data security and privacy, and SOC 2 is a key part of that commitment. Well continue to invest in our modern, API-first platform infrastructure to ensure that our clients can trust us with their most sensitive data
BridgeFTs WealthTech API is the industrys first WealthTech-as-a-Service platform, offering a robust and open API to AI and trade-ready, multi-custodial data, advanced analytics and application services. BridgeFTs WealthTech API empowers clients to reimagine the potential of their financial data and technology stack by eliminating the need for individual data feeds from a range of custodians and back-office providers, allowing wealth management firms and fintech companies to create differentiated, next-generation applications.
About BridgeFT
BridgeFT is a cloud-native, API-first WealthTech infrastructure platform that enables registered investment advisors (RIAs), financial institutions, and FinTech innovators to deliver better, data-driven outcomes for their clients. More than 300 leading firms trust BridgeFT to automate critical back-office operations and power their digital wealth management ecosystemsseamlessly aligning essential wealth data, proactive client insights and reporting, and portfolio management automation to deliver a truly personalized client experience. From an integrated advisor platform to flexible, open APIs, BridgeFT delivers the infrastructure needed for success. Reimagine your approach to wealth infrastructure at bridgeft.com.
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View source version on newsdirect.com: https://newsdirect.com/news/bridgeft-achieves-soc-2-type-ii-certification-for-wealthtech-as-a-service-platform-706371706
BridgeFT
COMTEX_450224131/2655/2024-04-02T09:04:33
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