Earlier this year, Hyarchis received the industry-standard SOC 2 Type 2 certification. SOC 2 is a compliance standard for service organizations and reports on controls related to security, confidentiality, and privacy of customer data.
“Companies use SOC certification to demonstrate to their customers that their data is secure,” says DevOps Manager Aurelijus Butkus. “For a company like Hyarchis, where we process data for millions of customers of financial institutions, this is, of course, indispensable.”
Hyarchis previously received Type 1 certification. This assesses the design of a compliance program and says something about compliance at one point in time. A Type 2 report tests not only the compliance program but also the effectiveness of the controls over a longer period of time. The results of the Type 2 audit at Hyarchis relate to a period of twelve months.
Hyarchis provides everything an organization needs to enable end-to-end KYC lifecycle management, from onboarding to continuous monitoring and remediation to financial service providers, while ensuring security and governance standards are met. “We show that our systems and processes are of the highest level over a long period of time,” says Aurelijus. “And if we can show that over the previous twelve months, our customers can also rest assured that we can maintain that level of quality going forward. “
