IMTC Achieves SOC 2 Attestation: A New Standard of Data Security & Compliance

When it comes to servicing both large and small financial institutions, the stakes are high. Firms require technology providers offering cutting-edge solutions at a competitive price point, coupled with an unwavering commitment to data security and operational resilience. At IMTC, this commitment is fundamental to our client service ethos, making the achievement of SOC 2 Type II attestation a critical milestone.

Through our partnership with AssuranceLab, a trusted audit partner, we recently attained SOC 2 Type II attestation. This certification represents the result of rigorous internal reviews and improvements, validating that our systems and processes adhere to the highest standards of data security, privacy, and operational integrity. In today’s financial landscape, SOC 2 compliance is increasingly a non-negotiable for serving top-tier financial institutions. At IMTC, exceeding these expectations is ingrained in our commitment to our clients.

The significance of SOC 2 accreditation

Established by the American Institute of Certified Public Accountants (AICPA), SOC 2 provides a framework for evaluating service providers’ data management in 5 key areas – security, availability, processing integrity, confidentiality, and privacy. For leading financial institutions, a SOC 2 Type II attestation from a provider like IMTC is no longer optional—it’s a prerequisite ensuring partners meet the highest standards of security and operational rigor.

In recent years, the financial industry has witnessed a shift towards mandating SOC 2 compliance from vendors. This move underscores the essential nature of demonstrating secure and reliable service to gain and retain business. For IMTC, achieving SOC 2 attestation underlines our commitment to being a trustworthy partner, operating under stringent standards akin to those imposed by regulators.

The journey to SOC 2 Type II attestation

Achieving SOC 2 Type II attestation is a rigorous process that requires a deep commitment to security and operational excellence. Before an organization can attain SOC 2 Type II, it must first achieve SOC 2 Type I. This initial stage focuses on the design of security controls, ensuring that a company has the necessary systems and processes in place to safeguard client data and maintain high standards of operational integrity.

SOC 2 Type I attestation is essentially a point-in-time assessment. It evaluates whether the controls that an organization has in place are suitably designed to meet the 5 trust service criteria. However, SOC 2 Type I does not yet evaluate the ongoing operational effectiveness of these controls.

For IMTC, SOC 2 Type I represented a foundational step. We worked closely with AssuranceLab consultants to ensure that our systems and processes were appropriately designed to meet these critical criteria. But for top-tier financial institutions, the real proof comes in SOC 2 Type II, which evaluates how effectively those controls operate over an extended period.

Achieving SOC 2 Type II attestation is a more in-depth process, as it involves demonstrating that the controls established in SOC 2 Type I are functioning effectively and consistently over time. This means that every aspect of our operations, from data access controls to monitoring systems, has been rigorously tested to ensure ongoing compliance with the trust service criteria.

The journey to SOC 2 Type II required ongoing collaboration between our internal teams and AssuranceLab to ensure that the necessary controls were not only in place but were being maintained and refined as our business and technology evolved. It also required a continuous focus on risk management, incident response, and internal audits to ensure that we could demonstrate our commitment to operational excellence over time.

SOC 2 and IMTC’s commitment to security and compliance

At IMTC, earning our clients’ trust is paramount. Serving top-tier financial institutions means that we must maintain the highest levels of security and compliance—not just once, but continually. Our SOC 2 Type II accreditation signifies robust controls in place to protect client data, ensure system confidentiality, integrity, and availability. These controls include advanced encryption methods, access management protocols, and continuous system monitoring to detect and respond to any potential threats in real time. However, going beyond mere compliance, SOC 2 Type II propels us towards anticipating future data security and operational challenges. Our security framework evolves constantly, with a focus on reviewing and enhancing controls to address emerging risks effectively.

Embracing a leadership role in data security and operational excellence

While achieving SOC 2 Type II attestation is a significant milestone for IMTC, it represents just one facet of our broader commitment to operational and security excellence. As the financial services industry evolves, so do the expectations placed on service providers. At IMTC, we consistently strive to remain ahead of the curve, not only technologically but in terms of trust and security afforded to our clients.

Our journey to SOC 2 compliance underscores our commitment to delivering secure, reliable, and innovative portfolio and order management solutions. We recognize the growing regulatory scrutiny faced by financial institutions and the need for partners capable of offering both cutting-edge technology and unparalleled levels of operational integrity.

At IMTC, we don’t just see SOC 2 Type II attestation as a checkbox—it’s a fundamental part of our mission to be a category leader so our clients can rely on us to safeguard the sensitive financial data that underpins their operations.

Continuous improvement and the road ahead

While achieving SOC 2 Type II attestation marks a significant milestone for IMTC, it signals not the end but a continuation of our journey. As clients’ needs evolve and regulatory landscapes become more intricate, we will persist in refining our processes, enhancing controls, and investing in technologies to maintain the highest levels of security and compliance.

Looking towards the future, our focus remains firmly on providing secure, reliable, and innovative solutions for our clients. We will continue to work closely with AssuranceLab and other audit partners to ensure that we are not only maintaining our SOC 2 compliance but also leading the way in terms of best practices for data security and operational excellence.

IMTC stands ready as the trusted partner for financial institutions that understand the importance of security, compliance, and innovation—ensuring reliability today and into the future.

If you’d like to learn more about IMTC’s SOC 2 Type II attestation, please reach out to our team.