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Portfolio+ chose the industry-recognized 360 Advanced, Inc., a licensed CPA cybersecurity and compliance firm, to perform the demanding third-party examination.
Portfolio+, which leverages innovative technologies to drive an open banking ecosystem for personalized banking and financial services, announced today it has successfully completed its System and Organizational Controls (SOC) 2® Type 2 Report on controls relevant to Security, Availability and Confidentiality for its cloud banking solutions.
Developed by the AICPA, SOC 2 is widely recognized by companies of all sizes in a wide array of industries and reflects the procedures and controls that companies employ to meet the service commitments and systems requirements of their clients.
Organizations that rely on outside vendors to perform activities essential to their business operations are finding a need for more trust and transparency into service providers’ operations, processes, and solutions.
“Portfolio+ has made security, data privacy, and compliance initiatives a priority across our product offering,” said CEO Dianne Cupples.
The SOC 2 Type 2 examination provides reasonable assurance to users about the suitability of the design of the company’s controls placed into operation along with their operating effectiveness against the relevant Trust Services Criteria for a period of time.
“Protecting our customers and their data is crucial,” Cupples said. “In this respect, having achieved a successful SOC 2 Type 2 report has us well-positioned to keep in stride with the evolving security expectations of the financial industry.”
Portfolio+ chose the industry-recognized 360 Advanced, Inc., a licensed CPA cybersecurity and compliance firm, to perform the demanding third-party examination. Other 360 Advanced cybersecurity and compliance offerings include ISO, HITRUST, penetration testing, and more.
About Portfolio+
Portfolio+ Inc. connects financial institutions with customers and partners using innovative technologies. Its core banking software solutions and open banking technology are used by financial institutions in Canada and the UK. With its powerful +Open Banking Platform and fully documented RESTful APIs, Portfolio+ has the power to connect banks, credit unions, and financial institutions with the evolving ecosystem of financial services technology that is putting everyday customers in control of their financial data.
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