Shaype successfully completes fifth consecutive SOC 2 audit to assure customer security and privacy
Shaype®, the Australian end-to-end embedded finance platform, hasachieved SOC 2 Type I certification for the fifth consecutive time.This most recent achievement marks yet another key milestone in the continued growth and maturity of the Shaype platform and underscores. Shaype’s collaborative approach to partner with its clients, including offering the highest levels of data security and privacy protection.
“We have now voluntarily sought and passed SOC 2 certification, without an adverse finding, for the fifth consecutive time since 2020,” said Connuil McEvedy, Shaype’s Chief Risk Officer. “Earning the SOC 2 certification as a voluntary compliance activity speaks directly to Shaype’s commitment to data security and global best practices within privacy protocols. Shaype is evidencing that we have the highest security standards to protect our organisation, our employees, our clients and in turn their customers who trust our technology with their financial and personal data,” he added.
SOC 2 is a rigorous auditing standard developed by the American Institute of CPAs that evaluates the effectiveness of an organisation's controls in safeguarding customer data. The certification process involves a comprehensive review of an organisation's systems and processes by an independent auditor to ensure compliance with the SOC 2 criteria. Grant Thornton was the independent accounting and auditing firm. Shaype's SOC 2 success ensures all clients are provided the highest standard of compliance which is especially important in highly regulated industries.
“In the current environment, information security is a key concern for all organisations, most especially in the world of banking and finance where privacy and data security must always be top of mind,” said Jason Latham, Shaype’s Chief Information & Technology Officer. “Our SOC 2 certification is testament to the embedded risk culture seen throughout the organisation and an important benchmark that our government, bank, fintech and other industry partners can rely on when selecting us as a financial technology platform,” he continued. “Our clients trust us to build the best financial experiences and we take great pride in the fact that our internal commitment to trust has been matched by external validation from an independent third party,” he continued,” said Mr Latham.
About Shaype Shaype is creating tomorrow’s financial experiences, today.Regain control, improve flexibility and build great products at speed. The Shaype core product is the creation of transaction accounts – including joint and multiple sub accounts – with BSB and account number linked to a VISA card. Our powerful and flexible platform offers one-API access to a full suite of powerful financial microservices for:
- Bank transfers, card issuing and payments, wallets, tokenisation
- Dynamic authorisation smart routing
- PayTo (Initiator and Payer), NPP, BPAY, PayID, Direct Entry
- KYC, data and insights
- Real-time AML, CTF and fraud monitoring across all payment channels
- Shaype is launching solutions for a range of businesses across, Financial Services,HR, Business Lending, Blockchain and Government
- Shaype will be one of the first to be live with both Payment Initiator and Payerservices for PayTo in 2023.
ShaypeTM (trading name of Hay as a Service Pty Ltd ABN 75 645 062 611) provides factual information and general advice only on financial products and services as a Corporate Authorised Representative (001293961) of Hay Limited (AFSL 515459).Business inquiries: Please visit www.shaype.com or email bizdev@shaype.comMedia inquiries: Please email media@shaype.com