LONDON & NEW YORK--(BUSINESS WIRE)--Alterest today announced that it has successfully achieved compliance in accordance with the American Institute of Certified Public Accountants (AICPA) standards for System and Organization Controls (SOC) for Service Organizations. Alterest achieved the SOC 2® standard through an independent audit and has established third-party industry validation that its customers are protected by world-class security controls that govern highly regulated industries.
Alterest’s products have featured among the top industry solutions for quant and alternative credit services across Europe and US. Enterprises in the financial services industry, like banks, funds, issuers, originators and facilitators, use Alterest to streamline quantitative and process workflows related to portfolio and risk management, loan servicing, securitizations, regulatory reporting, finance and accounting automation, funding optimization and waterfall computations. Many of them are modernizing spreadsheet-based tools or in-house systems and migrating entire operations to the fully-managed data centralization, analytics orchestration, and cloud-based modeling platform provided by Alterest. Alterest’s achievement of SOC 2 compliance is a reciprocation of the significant level of trust placed in it by its customers.
“It’s all about giving our customers the best infrastructure, security and performance. We’ve always prioritized having a strong compliance program. Our customers’ data is paramount, and commitment to security has been in Alterest’s DNA from the beginning. Our SOC 2 compliance follows our ISO27001 certification achieved and maintained from our first year of business. We will continue to invest and strengthen in this area to comply with additional standards as we release new products and expand our customer base and the industries we serve,” said Jeevan Param, CEO, Alterest.
Alterest’s customers will benefit from added layers of trust including security, availability and confidentiality. In industries dominated by spreadsheet-reliant processes and internal tools built by in-house or outsourced teams, it is a massive overhead for companies to develop and maintain systems that constantly adhere to strong controls and monitor ever-evolving threats, let alone undergo a SOC 2 examination. By choosing Alterest as a vendor, customers not only receive the technology benefits but also effortlessly boost their own compliance stance with their clients, auditors, stakeholders and regulators.