MENLO PARK, Calif.–(BUSINESS WIRE)–Astra, the money movement automation platform, has received System and Organization Controls 2 (SOC 2) Type 2 certification, validating the company’s commitment to providing the highest level of security to its customers. SOC 2 is an auditing standard developed by the American Institute of Certified Public Accountants (AICPA) that aims to help organizations prevent unauthorized access to their digital assets and customer data.
In an environment where cybersecurity threats are ubiquitous, the SOC 2 audit process has been widely adopted by service companies across many industries. The certification affirms that Astra’s information security practices meet SOC 2 standards for security, availability, confidentiality, processing integrity and data confidentiality. Although auditing is not mandatory, many organizations require certification as part of their service organization procurement process.
“Security is our number one priority and achieving SOC 2 certification is an exciting milestone that underscores our commitment to providing our customers with secure, reduced-risk Payments-as-a-Service,” says Gil Akos, Co-Founder and CEO of Astra. “Adhering to these high standards ensures that Astra is trusted by financial institutions and growing businesses to manage sensitive financial transfer activities. It’s one more demonstration of how we’re making the complicated checkout process that affects our users less intimidating.
The SOC 2 assessment was performed by an independent auditor who reviewed and tested Astra’s data management control mechanisms and activities, including monitoring, communication, policies and procedures. In addition to business practices, the auditor performed security reviews through penetration testing on publicly accessible sites and terminals. While Type 1 SOC 2 audits are based on the state of these mechanisms on a specific date, the Type 2 assessment that Astra successfully completed was much more rigorous. Astra’s SOC 2 Type 2 audit involved a more detailed investigation covering a longer period – in Astra’s case, three months. The SOC 2 report is valid for one year.
Astra is a leading provider of advanced bank-to-bank transfer technologies for financial institutions, fintechs and enterprises. Based in San Francisco, the company was founded in 2016 by co-founders Gil Akos and Sam Morgan. Astra’s proprietary and vertically integrated API allows developers to easily integrate financial automation into their existing products. For more information visit https://astra.finance