November 29, 2016 prod360
Florida Agency Network (FAN), the largest network of title agencies in Florida, has completed a rigorous third-party examination of its policies and procedures under the Service Organization Controls (SOC) 1 Type 2 standards, demonstrating its commitment to data security and privacy at all levels of its operations.
The demanding third-party examinations 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 Tampa, FL.
Developed by the American Institute of Certified Public Accountants (“AICPA”), the Trusted Service Principles (TSP) Framework is based on criteria geared towards technology and cloud-based computing systems, and the TSP Framework is comprised of five standards by which a practitioner is required to examine and report on when analyzing the security of a candidate’s system.
Companies that complete annual SOC 1 assessments are able to demonstrate a substantially higher level of security assurance and operational visibility as compared to those companies without an assessment. The assessment focuses on the internal controls impacting customers and the protection of their non-public personal information (NPPI).
Through its partnership with Premier Data Services, FAN is able to avail itself of a SOC 2, Type 2-assessed hosted environment with co-location backup and the most rigorous security controls in the industry. Premier Data Services is able to provide security measures as they relate to non-financial controls of an organization such as its IT network and processes, as well as protection of confidential data. As an IT/MSP, Premier Data Services specializes in compliance and security, overseeing its clients’ infrastructure and network solutions, and ensuring their software systems are not only healthy, but also optimized for performance.
“Having the SOC 1 Type 2 assessment completed puts us in the top one percent of agencies to reach this standard in our industry,” said Andrea Somers, Compliance Officer for FAN. She added that, “Successfully completing the rigorous assessments provides FAN with a competitive advantage. Lenders are asking more frequently for standards of protection for consumers’ NPPI.”
ABOUT FLORIDA AGENCY NETWORK
The FLORIDA AGENCY NETWORK (FAN) is made up of a network of title agencies that have formed a strategic alliance to provide shared back office services, pooled resources, and greater geographic coverage throughout the State of Florida. Resources of FAN include multiple on-staff attorneys, access to private title plant and ancillary services, IT company, centralized processes & post-closing, agency administration, compliance management and financial oversight. Powered by multiple national underwriters, FAN offers residential, commercial, builder, lender and investor services, experienced escrow staff, personalized customer service, offices throughout the State of Florida, and much more.