Delaware, USA (December 00, 2024) — iDenfy, a number one world RegTech firm has introduced its achievement of SOC 11 certification following the submission of an impartial auditor’s report.
The newly acquired SOC certification tallys with the opening of Idenfy’s new workplace in Delaware highlighting a big milestone within the firm’s effort to develop its attain in the US.
Idenfy is a verification options firm that makes a speciality of 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 companion in the US Market.
Idenfy securing this certification ensures its operational requirements are per the trade benchmark and its information dealing with practices meet the anticipated commonplace 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 corporation has carried out sturdy processes and controls to safeguard delicate data.
SOC II compliance is especially important 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 varied sectors.
These alarming figures spotlight the significance of SOC II certification as a key benchmark for companies dealing with delicate information, similar 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 data on behalf of our shoppers, 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 companies, reinforces our dedication to safeguarding information with the best requirements,” mentioned Domantas
Getting a SOC certification follows a rigorous course of that goes past attaining primary compliance.
It requires sturdy inside product growth, safety enhancements, and the institution of long-lasting practices to make sure the safety of buyer information in addition to signaling to shoppers 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 establish and mitigate vulnerabilities proactively. This AI-induced strategy ensures the integrity of its methods whereas sustaining the belief of its rising buyer base.
The SOC II certification improves iDenfy’s means to handle cybersecurity challenges for its US shoppers. As cyberattacks within the nation grow to be extra subtle, 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 develop its consumer base to industries requiring greater than the SOC 11 specialised certification.
“Our subsequent part will give attention to industries requiring not solely SOC II but in addition 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 sturdy 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 supplies scalable options for organizations of all sizes in varied industries. The agency ensures each consumer receives the best degree of safety whereas sustaining a proactive strategy to threats.
About iDenfy
iDenfy is a RegTech platform finest identified for its extensive number of identification verification companies and fraud prevention instruments. The agency ensures KYC, KYB, and AML compliance for each firm from large-scale companies to small organizations.
IDenfy is energetic in an enormous vary of industries starting from FinTech, iGaming, and cryptocurrency to e-commerce, and extra.
Idenfy efforts in its trade have been topped with recognition as the most effective Fintech Startup in 2020.
For extra data and enterprise inquiries, please go to www.idenfy.com.
