July 11, 2023
Tradeteq achieves its SOC 2 Type II attestation
Tradeteq, the leading provider of data, technology and software to the trade finance industry, has achieved SOC 2 Type II attestation, further demonstrating its commitment to protecting and managing customer data at the highest industry standard.
Tradeteq’s platform is used by banks, insurers and investors to help transform trade finance into an efficient, transparent and global financial market. SOC 2 Type II attestation is the latest addition to its security credentials, which include ISO27001, GDPR controls and other global security, safety and data protection requirements.
Tradeteq previously acquired SOC 2 Type I status in July 2022. The SOC 2 Type II accreditation builds on this, requiring operating effectiveness being observed by an independent auditor over a six month period.
SOC 2 is a rigorous compliance standard, developed by the American Institute of CPAs (AICPA), that is designed to specify how organisations should manage customer data. It defines criteria based on principles of security, availability, processing integrity, confidentiality, and privacy – and is becoming a prerequisite for many firms in the procurement of technology services.
Simon Needham, Chief Technology Officer at Tradeteq, comments: “This accreditation is something that our large enterprise banking clients expect. We handle high volumes of sensitive data on a daily basis and safeguarding and protecting that data has always been paramount to us. Achieving this enhanced SOC 2 standard is an important milestone, providing further evidence of our ongoing commitment to security. Alongside our extensive existing credentials, it gives our clients further assurance that we have rigorous controls in place around how we collect, use, and distribute their information.”