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 big milestone within the firm’s effort to develop 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 per the trade benchmark and its knowledge 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 knowledge, and it demonstrates that a company has applied sturdy processes and controls to safeguard delicate data.
SOC II compliance is especially essential in the US, as knowledge breaches can result in catastrophic penalties. In 2023 alone, the nation reported 3,205 knowledge 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 knowledge, akin to identification paperwork and bodily traits biometrics.
Domantas Ciulde, CEO of IDenfy defined the importance of Information Safety to the core enterprise providing of the verification options firm.
“Information safety is the cornerstone of our enterprise as we deal with delicate data on behalf of our purchasers, starting from government-issued IDs to biometric knowledge. 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 knowledge with the very best requirements,” mentioned Domantas
Getting a SOC certification follows a rigorous course of that goes past attaining fundamental compliance.
It requires sturdy inside product improvement, safety enhancements, and the institution of long-lasting practices to make sure the safety of buyer knowledge in addition to signaling to purchasers that iDenfy has accomplished an intensive job in implementing measures to guard their knowledge.
iDenfy runs a cybersecurity protocol that features safe encryption, real-time monitoring, and proactive threat administration of shopper’s knowledge.
The corporate leverages AI-powered expertise to establish 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 handle cybersecurity challenges for its US purchasers. As cyberattacks within the nation turn into extra refined, US companies face rising prices, with knowledge breaches averaging $9.48 million per incident.
Domantas Ciulde, CEO of IDenfy additional defined that the corporate hopes to develop its shopper base to industries requiring greater than the SOC 11 specialised certification.
“Our subsequent section will deal with 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 sturdy knowledge 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 shopper receives the very best degree of safety whereas sustaining a proactive method to threats.
About iDenfy
iDenfy is a RegTech platform finest identified for its huge 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 energetic in an unlimited 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 perfect Fintech Startup in 2020.
For extra data and enterprise inquiries, please go to www.idenfy.com.
