PALO ALTO, Calif., 14 Feb 2024 – SymphonyAI today announced successful completion of its SOC 2® Type 2 audit for its financial services SaaS platform. The result recognises that SymphonyAI is delivering the highest standards in protection and solutions for its financial crime prevention, risk management, and fraud detection solutions for banking, financial markets, and insurance.
The SOC 2 audit was conducted by leading compliance assessor A-LIGN, a technology-enabled security and compliance partner trusted by more than 2,500 global organizations to help mitigate cybersecurity risks.
“SymphonyAI is a trusted partner to leading financial institutions globally for regulatory compliance and combatting financial crime and fraud. Our robust, said Mike Foster, president of SymphonyAI’s financial services division. “Achieving and maintaining SOC 2 standards is yet another example of our commitment to providing our customers with leading solutions and protections.”
Established by the American Institute of Certified Public Accountants (AICPA), the SOC 2 audit is designed for organizations to ensure the personal assets of potential and existing customers are protected. SOC 2 reports are recognized globally and affirm that a company’s infrastructure, software, people, data, policies, procedures, and operations have been formally reviewed.
“A SOC 2 audit is a statement about an organization’s commitment to protecting critical information.” said Stephanie Oyler-Rankin, SOC practice lead at A-LIGN. “As a trusted third-party assessment firm, A-LIGN independently evaluates client data processes and procedures, governance on internal controls, and security posture. SymphonyAI’s SOC 2 report validates its commitment to data security and protection, as well as compliance with critical standards to mitigate cybersecurity threats.”
The SOC 2 audit evaluated the customer security, privacy and data protection standards of SymphonyAI’s end-to-end financial services SaaS platform including anti-money laundering (AML) transaction monitoring, customer due diligence (CDD), watch list management and anti-fraud solutions.
About SymphonyAI
SymphonyAI is building the leading enterprise AI company for digital transformation across the most critical and resilient growth verticals, including retail, consumer packaged goods, finance, manufacturing, media, and IT service management. SymphonyAI verticals have many leading enterprises as clients. Since its founding in 2017, SymphonyAI has grown rapidly to 3,000 talented leaders, data scientists, and other professionals. SymphonyAI is an SAIGroup company, backed by a $1 billion commitment from Dr. Romesh Wadhwani, a successful entrepreneur and philanthropist.
ABOUT A-LIGN
A-LIGN uniquely delivers a single-provider approach as a licensed SOC 1 and SOC 2 Assessor, accredited ISO 27001, ISO 27701 and ISO 22301 Certification Body, HITRUST CSF Assessor firm, accredited FedRAMP 3PAO, candidate CMMC C3PAO, and Qualified Security Assessor Company. A-LIGN ASSURANCE is a licensed certified public accounting firm registered as Price and Associates CPAs, LLC. A-LIGN may refer to the entities of both A-LIGN and A-LIGN ASSURANCE collectively as A-LIGN. For more information, visit www.A-LIGN.com.
