Fidano announces successful completion of annual SOC 1 Type 2 examination to reaffirm dedication to security compliance

Fidano, a software and business solutions provider for the payment processing industry, has successfully completed a rigorous fifth annual examination of its policies and procedures, under the System and Organization Controls (SOC) 1 Type 2 standards, demonstrating its ongoing commitment to data security at all levels of its operations.

SOC 1 Type 2 standards examination

The demanding third-party examinations that led to the achievement were administered by the professional IT assurance and compliance staff at 360 Advanced, a respected national qualified security assessor, HITRUST CSF Assessor and certified public accountant firm, which is based in St. Petersburg, Florida, USA.

The SOC 1 Type 2 examination is an AICPA created authoritative guidance

The SOC 1 Type 2 examination is an AICPA created authoritative guidance, which provides a uniform method for disclosing independently assessed information, about performance and reporting requirements, for an examination of controls, at a service organisation that is likely to be relevant to user entities internal control over financial reporting.

High levels of security assurance and operational visibility

Companies that have successfully completed an annual SOC 1 Type 2 examination can demonstrate a substantially higher level of security assurance and operational visibility, in comparison to companies that have not completed the examination.

“Our software is provided to merchant service sales providers, who partner with banks, credit unions and other organisations in the US, UK and EU. Those organisations share key data with us and their first question often is, ‘What are your data compliance rules?’” said Bob Skattum, President of Fidano.

Bob Skattum adds, “Having an annual SOC examination provides us with a pathway to best practices in data security and leads to positive change in how we process our clients’ data.”