Explore Trolley’s journey towards achieving SOC 2® Type II compliance, a hallmark of stringent security and privacy controls. Discover how this milestone reflects Trolley’s commitment to customer data protection, strengthens customer trust, and adheres to industry standards, thereby fostering a safer and more secure payment network for users.
At Trolley, we understand the importance of ensuring the security and privacy of our customers’ data and financial information. That’s why it’s important that we make time to announce that Trolley is SOC 2® Type II compliant.
For those unfamiliar with SOC 2®, it is a widely recognized information security standard developed by the American Institute of Certified Public Accountants (AICPA) that audits and certifies the security, privacy, and availability controls of cloud service providers and other service organizations.
The SOC 2® Type II designation is a higher level of compliance that verifies the security and privacy controls are in place and operating effectively over an extended period of time, and meets the reporting requirements of SSAE-21, which became effective for service auditor reports dated on or after June 15, 2022.
So, what’s the difference between SOC 2® Type I and Type II compliance?
SOC 2® Type I compliance focuses on the design and implementation of a company’s security and privacy controls. This type of compliance verifies that the controls are in place and operating as intended at a specific point in time.
On the other hand, SOC 2® Type II compliance focuses on the operating effectiveness of the security and privacy controls over a period of time. This type of compliance not only verifies that the controls are in place but also that they are operating effectively and providing the intended level of security and privacy to the customers’ data and information.
So, why is SOC 2® Type II compliance important for Trolley and our customers?
- It demonstrates a commitment to security and privacy: SOC 2® Type II compliance shows that our company takes the security and privacy of our customers’ data and financial information seriously and is committed to protecting it.
- It enhances customer trust: By achieving SOC 2® Type II compliance, we are demonstrating to our customers that their data and information is safe and secure with us, which can help build and strengthen customer trust.
- It meets industry standards: SOC 2® Type II compliance is widely recognized and respected in the financial services industry. By achieving this compliance, we are demonstrating that our company meets the industry standards for security and privacy.
- It helps protect customer data: SOC 2® Type II compliance requires companies to have robust security and privacy controls in place, which helps to prevent data breaches and other security incidents that could compromise customer data and information.
Summing it all up
Achieving SOC 2® Type II compliance is an important milestone for Trolley and our customers. It demonstrates our commitment to the security and privacy of our customers’ data and information and helps build customer trust, meet industry standards, and protect customer data.