We’re thrilled to announce that AlphaPoint has now received our SOC 2 Type 2 attestation
, rounding out our efforts at complete SOC compliance with all four (SOC 1 T1 & T2, SOC 2 T1 & T2) now covering our White Label Exchange Software (APEX) product. As a prerequisite for providing core services in many major financial institutions, SOC 1 Type 2 and SOC 2 Type 2 examinations are an important audit of systems and controls that establish professional grade functionality and determine suitability for institutional level use. Despite this, SOC examinations are still extremely rare in this industry given the level of effort and thoroughness needed to acquire them.
By definition, SOC 2 is an auditing procedure developed by the American Institute of Certified Public Accountants (AICPA) that ensures service providers manage data securely to protect the interests of organizations and the privacy of its clients. In August 2021, AlphaPoint completed a SOC 1 Type 1 & 2 examination; a major operational milestone in evaluating the design and implementation of our financial operations and reporting controls.
The examination was conducted by third party consultants Armanino LLP to provide assurance for enterprise clients that AlphaPoint’s commitment to data security, product reliability, and information confidentiality aligns with global accountability standards. AlphaPoint’s SOC 2 certified white label exchange application is being used by clients worldwide in heavily regulated environments. As a critical prerequisite to conducting business compliant with local legislative requirements, financial institutions require software providers like AlphaPoint to demonstrate adherence to security, availability, and confidentiality best practices.
Looking forward, AlphaPoint will continue to build products and deliver services with these principles as a top priority, and improve our practices and perform audits to ensure our security profile remains world-class.