Apr 25, 2024

LendTech Achieves SOC2 Type II Compliance

LendTech Achieves SOC2 Type II Compliance

We are thrilled to announce a significant milestone for LendTech. After months of rigorous evaluation, we have achieved SOC2 Type II certification through monitoring with Vanta and our audit partners Advantage Partners

What is SOC2 Type II and Why Does It Matter? 

The difference between SOC1 and SOC2 reports is that SOC1 is a snapshot in time, focuses on the financial controls and ensures financial information is handled safely. SOC2 occurs over an extended period of time, monitors many of the same overlapping controls but also includes criteria pertaining to security, availability, processing integrity, confidentiality and privacy.  

What does this mean for our clients and partners? It means that we have met the stringent standards set forth by the American Institute of CPAs (AICPA). This certification process involved thorough audits and assessments conducted by independent third-party experts to ensure compliance with industry-leading security standards. By successfully completing this process, we have demonstrated our ability to protect our clients' data from unauthorized access, maintain system availability, and uphold the integrity of our operations.

What’s Next? 

As LendTech continues to grow, achieving SOC2 Type II compliance is integral to mitigate any potential security risks on an ongoing basis. In conclusion, achieving compliance is a significant milestone for LendTech, reaffirming our position as a trusted leader in the fintech industry.

For more information about LendTech and our SOC2 Type II certification, please visit our website or request a demo. Thank you for your continued support and trust in LendTech.

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