Shaype successfully completes fifth consecutive SOC 2 audit to assure customer security and privacy

Shaype®, the Australian end-to-end embedded finance platform, has achieved SOC 2 Type I certification for the fifth consecutive time.

This most recent achievement marks yet another key milestone in the continued growth and maturity of the Shaype platform and underscores Shaype’s collaborative approach to partner with its clients, including offering the highest levels of data security and privacy protection.

“We have now voluntarily sought and passed SOC 2 certification, without an adverse finding, for the fifth consecutive time since 2020,” said Connuil McEvedy, Shaype’s Chief Risk Officer. “Earning the SOC 2 certification as a voluntary compliance activity speaks directly to Shaype’s commitment to data security and global best practices within privacy protocols. Shaype is evidencing that we have the highest security standards to protect our organisation, our employees, our clients and in turn their customers who trust our technology with their financial and personal data,” he added.

SOC 2 is a rigorous auditing standard developed by the American Institute of CPAs that evaluates the effectiveness of an organisation’s controls in safeguarding customer data. The certification process involves a comprehensive review of an organisation’s systems and processes by an independent auditor to ensure compliance with the SOC 2 criteria. Grant Thornton was the independent accounting and auditing firm.

Shaype’s SOC 2 success ensures all clients are provided the highest standard of compliance which is especially important in highly regulated industries.

“In the current environment, information security is a key concern for all organisations, most especially in the world of banking and finance where privacy and data security must always be top of mind,” said Jason Latham, Shaype’s Chief Information & Technology Officer. “Our SOC 2 certification is testament to the embedded risk culture seen throughout the organisation and an important benchmark that our government, bank, fintech and other industry partners can rely on when selecting us as a financial technology platform,” he continued.

“Our clients trust us to build the best financial experiences and we take great pride in the fact that our internal commitment to trust has been matched by external validation from an independent third party,” he continued,” said Latham.