MINNEAPOLIS, MN, February 11, 2020 — IDS, a leading provider of asset finance and origination technology announced today that is has successfully completed an independent audit which resulted in IDScloud™ receiving System and Organization Control (SOC) 2 type II and SOC 3 security certifications. These certifications recognize the company has met comprehensive trust service principles established by the American Institute of Certified Public Accountants (AICPA) related to security, availability, confidentiality, and process integrity for its IDScloud origination and equipment finance portfolio management solution.
“Receiving SOC 2 type II and SOC 3 certifications for IDScloud demonstrates our dedication to delivering world-class cloud technology to the equipment and asset finance industry”, stated David Hamilton, CEO IDS. “For the last year our team has worked with an independent auditor to the review systems and controls we have in place to ensure IDScloud meets the rigorous security and availability needs of our customers. We are proud to receive this important recognition and continue to strive to provide the most comprehensive cloud-based asset finance technology in the market.”
The SOC certifications endorse IDS for constant dedication to human, physical, and logical security controls. The SOC 3 attestation relies on testing and examination performed in the SOC 2 Type II audit.
Service Organizations Control (SOC) 2 Type II: This is the most comprehensive certification within the SOC protocol. To receive SOC 2 Type II certification, IDS underwent a detailed audit in which systems and controls were evaluated over time for security, availability, confidentiality, and process integrity. Receiving this certification provides addition assurance that IDScloud is designed to keep clients’ sensitive data secure.
Service Organizations Control (SOC) 3: SOC 3 compliance is awarded based upon a detailed audit of the controls placed in operation relevant to security, availability, and confidentiality. Completing this process documents the company’s systems and organizational controls established to support the IDScloud solution.
Read the full report: Systems and Organization Controls Report – IDScloud
Leading asset finance enterprises build their businesses on full lifecycle solutions from IDS. Our software streamlines the entire asset finance process from origination, to portfolio management, to end-of term. Our new cloud-based offerings integrate seamlessly into any asset finance ecosystem. The scalability, flexibility and economy of our cloud solution makes IDS best-in-class asset finance software accessible to banks, independents and captives of all sizes. Headquartered in Minneapolis, MN, the company also has offices in the United Kingdom, Australia, Singapore and India. For additional information, visit www.idsgrp.com or email [email protected].
Media Contact: Ray Wizbowski – [email protected]