MENLO PARK, Calif.--(BUSINESS WIRE)--Astra, the automation platform for money movement, has been awarded the System and Organization Controls 2 (SOC 2) Type 2 Certification, validating the company’s dedication to delivering the highest level of security to customers. SOC 2 is an auditing standard developed by the American Institute of Certified Public Accountants (AICPA) that is intended to help organizations prevent unauthorized access to their digital assets and customer data.
In an environment where cybersecurity threats are ever-present, the SOC 2 audit process has been widely adopted by service companies across a range of industries. The certification affirms that Astra’s information security practices meet the SOC 2 standards for data security, availability, confidentiality, processing integrity, and privacy. While the audit is not compulsory, many organizations require certification as part of their service organization procurement process.
“Security is our number one priority and earning SOC 2 certification is an exciting milestone that underscores our commitment to providing secure and risk mitigated payments-as-a-service to our customers,” says Gil Akos, co-founder and CEO of Astra. “Meeting these high standards ensures Astra can be trusted by financial institutions and growing enterprises to handle the sensitive business of financial transfers. This is one more demonstration of how we make the complicated payments process affecting our users less daunting.”
The SOC 2 evaluation was carried out by an independent auditor that reviewed and tested Astra’s data management control mechanisms and activities, including monitoring, communication, policies, and procedures. In addition to business practices, the auditor conducted security reviews via penetration testing of publicly accessible sites and endpoints. While SOC 2 Type 1 audits are based on the state of these mechanisms on a specific date, the Type 2 evaluation that Astra successfully completed was much more rigorous. Astra’s SOC 2 Type 2 audit involved a more detailed investigation covering a longer period of time – 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 technology for financial institutions, fintechs, and enterprises. With headquarters in San Francisco, the company was founded in 2016 by co-founders Gil Akos and Sam Morgan. Astra’s proprietary, vertically integrated API allows developers to easily embed financial automation within their existing products. For more information, visit https://astra.finance