Following this announcement, the initiative will ensure that the company’s data handling practices meet rigorous standards of security and confidentiality. The certification also coincides with the opening of iDenfy’s new office in Delaware, which marks a significant step in the firm’s expansion in the region of the US.
In addition, this milestone comes as iDenfy aims to expand into highly regulated industries in the US, particularly healthcare and insurance, which demand stringent compliance with specialised certifications, such as HIPAA for healthcare and NAIC model audit compliance for insurance.
The SOC II certification (System and Organization Controls) represents a gold-standard compliance framework developed by the American Institute of Certified Public Accountants (AICPA). The certification evaluates organisations on five key Trust Service Criteria: security, availability, processing integrity, confidentiality, and privacy. It was specifically designed for service providers that are managing customer data and demonstrates that an organisation has implemented robust processes and controls to safeguard sensitive information.
Obtaining a SOC II report represents a rigorous process that goes beyond basic compliance. It also requires robust internal product development, security improvements, and the establishment of long-lasting practices that aim to ensure the security of customer data. At the same time, it is also signaling to partners that iDenfy has implemented comprehensive measures to protect their information.
The SOC II certification is expected to further strengthen iDenfy’s ability to address cybersecurity challenges for its US clients. As cyberattacks grow more sophisticated, US businesses face rising costs, with data breaches averaging USD 9.48 million per incident. By achieving the SOC II certification, iDenfy will have the possibility to offer clients assurance that their data is protected by a secure and reliable infrastructure.
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