What is SOC 2 compliance?

SOC 2 is a security framework developed by the American Institute of Certified Public Accountants (AICPA) centered around five principles: Security, Availability, Processing Integrity, Confidentiality, and Privacy. There are two types of SOC 2 audits:

SOC 2 Type I: A report that checks whether a company has the right controls in place at a specific point in time. It looks at whether the company has proper systems, policies, and processes to safeguard customer data.‍

SOC 2 Type II: A more thorough report that examines how well a company's controls are working over an extended period. It doesn't just evaluate control design but also how consistently and effectively they are being used on an ongoing basis.

Why did we pursue SOC 2 Type II certification?

Deciding to pursue the SOC 2 Type II certification was a no-brainer for us. Our commitment has always been to guarantee the highest level of security for the information we manage. This certification is not just about compliance but ensuring that our systems and processes undergo a rigorous evaluation, providing you with the confidence that we adhere to the highest standards set by AICPA.

What does this mean to financial institutions that use Ribbon?

This isn't just good news for us - it's great news for financial institutions that use our platform to provide a better inheritance experience. It's proof that we operate according to rigorous, internationally recognized standards and are committed to maintaining the highest levels of security, availability, and confidentiality. This means you can trust our platform to keep your data safe and our services reliable.

We are proud of this achievement and what it means for Ribbon's future of secure and reliable service. For more details on our SOC 2 Type II certification, feel free to contact us.