Delaware, USA (December 00, 2024) — iDenfy, a number one international RegTech firm has introduced its achievement of SOC 11 certification following the submission of an unbiased auditor’s report.
The newly acquired SOC certification tallys with the opening of Idenfy’s new workplace in Delaware highlighting a major milestone within the firm’s effort to increase its attain in the US.
Idenfy is a verification options firm that focuses on Know Your Buyer (KYC), Anti-Cash Laundering (AML), and Know Your Enterprise (KYB).
The milestone crossed by Idenfy following its SOC 11 certification strengthens its place as a number one and trusted verification options accomplice in the US Market.
Idenfy securing this certification ensures its operational requirements are according to the business benchmark and its information dealing with practices meet the anticipated normal of safety and confidentiality.
The SOC II (System and Group Controls ) is a gold-standard compliance framework developed by the American Institute of Licensed Public Accountants (AICPA).
The SOC II certification evaluates organizations on 5 key Belief Service Standards: safety, availability, processing integrity, confidentiality, and privateness.
It’s particularly designed for service suppliers managing buyer information, and it demonstrates that a company has carried out strong processes and controls to safeguard delicate info.
SOC II compliance is especially essential in the US, as information breaches can result in catastrophic penalties. In 2023 alone, the nation reported 3,205 information breaches, affecting over 353 million people throughout numerous sectors.
These alarming figures spotlight the significance of SOC II certification as a key benchmark for companies dealing with delicate information, akin to identification paperwork and bodily traits biometrics.
Domantas Ciulde, CEO of IDenfy defined the importance of Knowledge Safety to the core enterprise providing of the verification options firm.
“Knowledge safety is the cornerstone of our enterprise as we deal with delicate info on behalf of our purchasers, starting from government-issued IDs to biometric information. SOC II certification, together with our ISO 27001 certification and ETSI TS 119 461 compliance for digital identification and belief providers, reinforces our dedication to safeguarding information with the best requirements,” stated Domantas
Getting a SOC certification follows a rigorous course of that goes past reaching primary compliance.
It requires strong inner product growth, safety enhancements, and the institution of long-lasting practices to make sure the safety of buyer information in addition to signaling to purchasers that iDenfy has finished a radical job in implementing measures to guard their information.
iDenfy runs a cybersecurity protocol that features safe encryption, real-time monitoring, and proactive threat administration of consumer’s information.
The corporate leverages AI-powered expertise to determine and mitigate vulnerabilities proactively. This AI-induced method ensures the integrity of its programs whereas sustaining the belief of its rising buyer base.
The SOC II certification improves iDenfy’s capacity to deal with cybersecurity challenges for its US purchasers. As cyberattacks within the nation turn into extra refined, US companies face rising prices, with information breaches averaging $9.48 million per incident.
Domantas Ciulde, CEO of IDenfy additional defined that the corporate hopes to increase its consumer base to industries requiring greater than the SOC 11 specialised certification.
“Our subsequent part will concentrate on industries requiring not solely SOC II but additionally specialised certifications. Healthcare and insurance coverage suppliers face complicated regulatory necessities, and iDenfy is well-equipped to assist them navigate these challenges whereas making certain strong information safety.” Domantas Ciulde added.
Past verification and addressing broader cybersecurity challenges IDenfy’s AI-driven instruments detect suspicious actions in actual time, together with identification fraud makes an attempt and phishing schemes, enabling companies to proactively forestall breaches.
Moreover, iDenfy offers scalable options for organizations of all sizes in numerous industries. The agency ensures each consumer receives the best degree of safety whereas sustaining a proactive method to threats.
About iDenfy
iDenfy is a RegTech platform greatest identified for its vast number of identification verification providers and fraud prevention instruments. The agency ensures KYC, KYB, and AML compliance for each firm from large-scale companies to small organizations.
IDenfy is lively in an unlimited vary of industries starting from FinTech, iGaming, and cryptocurrency to e-commerce, and extra.
Idenfy efforts in its business had been topped with recognition as one of the best Fintech Startup in 2020.
For extra info and enterprise inquiries, please go to www.idenfy.com.
