EAST LANSING, MI, May 17, 2021 – Earlier this month, financial technology provider Quavo, Inc. announced that the company received their Service Organization Control (SOC) 2 Type 1 Compliance Certification. This certification reinforces Quavo’s service commitments and confirms that all system requirements were achieved based on the trust services criteria relevant to the security standards set forth by AICPA. The announcement comes as part of Quavo’s dedication to implementing the importance of their client’s security and safety.
SOC 2 is an auditing procedure designed to ensure that third-party service providers or simply service organizations can securely manage data to protect the interests and privacy of clients. In December, the internal IT, Finance, and HR Quavo teams began working diligently to enhance its overall data security policies. As of April 28, 2021, the company received the issued report and is officially SOC 2 Type 1 compliant.
Nick Facca, Quavo’s Director of Technology, touched on the importance of the SOC 2 Type 1 certification completion and what this means for the company. “By completing our SOC 2 Type 1 report, we are assuring our clients that we take care of sensitive data and have organization-wide controls in place to practice effective safeguards. It was a team effort from our IT team as well our Finance and HR teams to create and refine our processes.”
The Quavo team arranged their infrastructure monitoring during the certification process, establishing and regulating policies such as codes of conduct, incident response plans, and data deletion.
“As Quavo continues to commit itself to be the best in the fraud and disputes services industry, we are extremely excited to receive our SOC 2 Type 1 compliance report. This accreditation is just another step in ensuring that we securely manage our client’s data and protect the privacy of their customer base in our cloud environments. Overall, we look forward to this report helping us obtain and retain clients, reducing our internal compliance burden, and helping us evaluate the effectiveness of our controls,” said CFO and Co-Founder Daniel Penne.
Quavo is the world’s leading provider of cloud-based dispute management solutions for financial institutions and Fintech organizations. Quavo offers turnkey, automated software solutions for disputes with complete Reg E and Reg Z compliance. Quavo’s premier software solutions are QFD™ and ARIA™. QFD™ automates fraud and dispute processing workflows, from intake to case resolution. Our fraud management AI ARIA™ conducts the investigation process to reach decisions as a human would, in a matter of seconds. Quavo also provides add-ons to the QFD™ software, namely Dispute Resolution Experts™ our human intelligence service.
For more information about Quavo, visit www.quavo.com.