MyVest Achieves SOC Recertifications for Wealth Management Platform
Maintaining SOC 1 Type 2 Certification and SOC 2 Type 2, demonstrating controls for security, availability, and confidentiality
MyVest, a leading provider of enterprise wealth management technology, announced the completion of new SOC certifications for its wealth management platform, demonstrating effective controls for protecting customer data, maintaining compliance with financial regulatory standards, and adhering to the National Institute of Standards and Technology (NIST) cybersecurity framework.
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MyVest recently completed annual certifications for SOC 1 Type 2 and SOC 2 Type 1 and Type 2, covering all five of the SOC Trust Services Principles: Security, Privacy, Processing Integrity, Confidentiality, and Availability. MyVest has continuously audited its systems and operations, including publicly announcing these SOC certifications for the first time in 2019. MyVest continues to pursue additional controls and certifications, demonstrating its commitment to higher, evolving information security standards.
“As a platform that powers enterprise wealth management firms, this certification validates that our company maintains administrative, technical and physical safeguards across all systems that handle sensitive customer data with integrity, across critical users including advisors, portfolio managers, traders, operations, compliance, and executives,” says Josh Moats, MyVest’s Chief Information Officer. “This new certification confirms our systems operate securely and reliably in practice, enabling teams to confidently use our company in production environments.”
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Developed by the American Institute of Certified Public Accountants (AICPA), System and Organization Controls (SOC) certifications are industry standards that provide service organizations independent validation of the internal administrative, technical, and physical controls for their systems, procedures, and infrastructure.
Prescient Security, a leader in security and compliance attestation for B2B, SaaS companies worldwide, performed this security audit. MyVest’s SOC 3 summary report is available upon request to customers and partners under NDA.
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