Fidano, a software and business solutions provider for the payment processing industry, has successfully completed a rigorous fifth annual examination of its policies and procedures under the System and Organization Controls (SOC) 1 Type 2 standards, demonstrating its ongoing commitment to data security at all levels of its operations.
The demanding third-party examinations that led to the achievement were administered by the professional IT assurance and compliance staff at 360 Advanced, a respected national Qualified Security Assessor, HITRUST CSF Assessor and Certified Public Accountant firm based in St. Petersburg, Fla.
The SOC 1 Type 2 is an AICPA created authoritative guidance providing a uniform method for disclosing independently assessed information about performance and reporting requirements for an examination of controls at a service organization that are likely to be relevant to user entities’ internal control over financial reporting. Companies that successfully complete an annual SOC 1 examination can demonstrate a substantially higher level of security assurance and operational visibility than companies that have not completed the examination.
“Our software is provided to merchant service sales providers, who partner with banks, credit unions and other organizations in the US, UK and EU. Those organizations share key data with us and their first question often is, ‘What are your data compliance rules?’” said Bob Skattum, President of Fidano. “Having an annual SOC examination provides us with a pathway to best practices in data security and leads to positive change in how we process our clients’ data.”
Fidano provides development, sales, marketing and consulting on a broad range of state-of-the-art software tools, applications, and point of sale products for payment processing companies and organizations who want to market to the diverse players in the payments industry ecosystem. Fidano is uniquely qualified to connect the dots between financial institutions, payment processors, vendors, and customers while safeguarding the client’s information with the highest levels of security. Fidano is headquartered in Las Vegas, NV with development offices in Whitefish, MT as well as other worldwide locations.