Saylent Technologies announces successful SOC 2 review
Saylent Technologies, Inc., a software company specializing in banking and payment analytics, announces its successful completion of a Service Organization Control (SOC) 2 Type 1 examination for Account360 Direct.
FRANKLIN, MA (March 05, 2015) — Saylent Technologies, Inc., a software company specializing in banking and payment analytics, announces its successful completion of a Service Organization Control (SOC) 2 Type 1 examination for Account360.
The security of Saylent’s Account360 system was evaluated as part of its SOC 2 examination to ensure Saylent’s system is protected against both physical and logical unauthorized access. The SOC 2 review and resulting report shows that Saylent is “compliant on Controls at a Service Organization Relevant to Security, their infrastructure, software, people, process and data.”
“We touch Financial Institutions’ high-value information every day and understand how important that security is,” says Saylent’s President and CEO Tyson Nargassans. “The successful completion of our SOC 2 audit shows that we are committed to the security of our technology and processes.”
Saylent Technologies, Inc. provides software and services to improve the profitability and product innovation of financial institutions by delivering intelligent, actionable analytics on the financial behaviors of consumers and businesses.
Account360, one of Saylent’s software products, helps financial institutions discover patterns in customers’ payment behaviors and then uses that insight to help grow their accounts into more profitable relationships. Banks and credit unions use Account360 to adopt a more customer-centric view across account types and multiple payment formats—checks, debit cards, online bill pay, automated clearing house (ACH), teller, etc.—and to implement segmentation strategies and targeted incentives, including high-interest checking, and points and reward programs, to attract and keep customers.
Saylent opted for a “Type 1” report with a review date of January 16, 2015 that looked at system logging of procedures executed, to attest that controls are being performed effectively and without error.
“We plan to undergo a SOC 2 Type 2 examination within the year and to make both SOC 2 Type 1 and Type 2 examinations part of our annual evaluation,” says Nargassans. “We want all Financial Institutions that use our software and services to know they can rely on us because we take the confidentiality and security of their sensitive data very seriously.”
SOC 2 examinations must be performed by a licensed CPA firm, and Saylent’s SOC 2 examination was performed by Schellman & Company, LLC, an independent CPA firm. This examination involved an in-depth analysis and confirms Saylent’s alignment with the American Institute of Certified Public Accountants (AICPA).
The SOC 2 examination was formally known as a Report on Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality, or Privacy, and AICPA has positioned the SOC2 as its primary compliance attestation document. The SOC 2 examination is the current auditing standard and replaces the SSAE16 and SAS70 audit documents previously used by the auditing community.
About Saylent Technologies, Inc.
Saylent Technologies, Inc. is a behavior-based software and services company that helps organizations understand, influence and profit from banking behaviors. Saylent’s mission is to enable financial services organizations to turn data into insight and insight into action to drive more profitable customer behaviors, increase loyalty, reduce fraud and identify new revenue opportunities. For more information, visit: http://www.saylent.com or email: info(at)saylent.com