SOC 2 Type 2 Compliance Certification

• Unifimoney has successfully completed its System and Organization Controls (SOC2) Type 2 examination for security and availability. The examination was performed by an independent CPA firm and demonstrates the effectiveness of its controls for protecting customer data, ability to handle current user traffic and successfully scale to meet future demands, maintaining compliance with financial regulatory standards, and adhering to the National Institute of Standards and Technology (NIST) cybersecurity framework.
• As a SOC2 Compliant organization. Our data and security controls and systems gives our clients assurance that we are protecting their data.

What is SOC 2 compliance?

• SOC 2 (Service Organization Controls 2) is a security framework with a set of compliance requirements geared toward technology-based companies that use cloud-based storage of customer data.
• SOC 2 compliance is both an audit procedure and criteria, as well as a voluntary compliance standard that specifies how an organization should manage internal controls and protect customer data.

Compliance and Trust Elements

SOC 2 Compliance Indicators:

SOC 2 is one of the leading standards for FinTech security. This certification is only granted after a rigorous and regular audit process that covers ’s these 5 Trust and Integrity Principles as defined by AICPA

• Security: This principle focuses on protecting systems and information from unauthorized access, disclosure, and damage. It ensures the integrity, confidentiality, and privacy of information while meeting the entity’s objectives. Security measures may include firewalls, intrusion detection systems, and robust authentication processes.
• Availability: This refers to the accessibility of the system, its products, or services as stipulated by a contract or service level agreement (SLA). It ensures that the network is reliably active and that problems can be resolved quickly. This is especially crucial for cloud computing, data hosting, and online service providers.
• Processing Integrity: It ensures that the system processing is complete, valid, accurate, timely, and authorized. This principle is vital for organizations such as financial services, where accurate and timely data processing is critical.
• Confidentiality: This principle involves protecting information designated as confidential throughout its lifecycle, from creation through disposal. Access to confidential information is restricted to specified individuals and is safeguarded using access control measures and encryption.
• Privacy: It deals with how personal information is collected, stored, used, preserved, revealed, and disposed of by an organization. Privacy focuses specifically on personal information, differing from confidentiality, which covers various forms of sensitive data.

User Data Protection:

At Unifimoney, we are fully committed to the protection and responsible handling of user data. We understand the importance of privacy and security in the digital age, and we are dedicated to upholding the highest standards in data protection. Our comprehensive data protection strategy includes the following key components:

• Data Encryption: All user data is encrypted during transmission and while stored on our systems, using industry-standard encryption technologies to safeguard it from unauthorized access.
• Access Controls: We implement strict access controls and authentication measures to ensure that only authorized personnel have access to user data. Regular audits are conducted to maintain and improve these controls.
• Data Minimization: We only collect data that is necessary for the provision of our services, and we do not retain it longer than needed. This minimizes the risk of data breaches and ensures compliance with data protection laws.
• Compliance with Laws and Regulations: We adhere to all relevant data protection laws and regulations, including the General Data Protection Regulation (GDPR) and others, depending on the regions we operate in.
• User Consent and Transparency: We provide clear information about the data we collect, how it is used, and the choices and rights users have regarding their data. We ensure that user consent is obtained where required.
• Regular Audits and Assessments: To continuously improve our data protection measures, we conduct regular security audits and risk assessments, adjusting our policies and practices as necessary.
• Data Breach Response Plan: In the unlikely event of a data breach, we have a robust response plan in place to quickly address and mitigate any potential impacts to user data.

Our dedication to data protection is integral to our mission and core values. We believe that respecting user privacy is not just a regulatory requirement but also a fundamental aspect of earning and maintaining the trust of our customers.