Boston, MA (May 17, 2021) – Akoya LLC announced today that it has successfully completed its Service Organization Controls (SOC) 2 Type II certification. The audit, conducted by a big-four accounting firm, found that Akoya's information security and operational practices meet the rigorous SOC 2 standards for the Security and Confidentiality Trust Service Principles.
“Obtaining our Type II certification just one year into our existence shows how committed we are to minimizing operational risks by employing extensive security and confidentiality controls across Akoya,” said Debrah True, Chief Information Security Officer at Akoya. “This certification reinforces how our platform’s security, service commitments, and operational processes meet stringent requirements that our clients demand and provides assurances that we safeguard data in line with industry standards and best practices.”
To achieve this certification, Akoya agreed to institute over 60 controls that ensured the company is protected against unauthorized access, use, or modification of its internal systems, and that information designated as confidential is protected. After implementing these controls, the auditing firm tested their operating effectiveness from February 1, 2020 to January 31, 2021.
“As a trusted partner in the Open Finance ecosystem, obtaining a SOC 2 Type II certification is an important milestone and demonstrates our commitment to be a secure network that financial institutions and their customers can use to share data,” explained Stuart Rubinstein, CEO of Akoya. “Financial institutions can rely on us to ensure safe and secure data access for customers using fintech apps that are connected through the Akoya Data Access Network.”
Defined by the AICPA, the SOC 2 Type II is a widely recognized auditing standard utilized by service organizations to demonstrate the suitability of the design and operating effectiveness of an organization’s internal controls over a specified audit period – generally 12 months in length. Achieving a SOC 2 Type II certification affirms Akoya's ability to implement and execute strict and critical security and confidentiality controls that safeguard sensitive data and ensures strong access controls.
Akoya is changing the way consumer financial data is accessed and shared. Through a single integration on to the Akoya Data Access Network, data aggregators and fintechs can directly connect with financial institutions to securely obtain consumer-permissioned financial data through APIs. Akoya manages these relationships and serves as an interoperable solution that is available to the entire financial services industry. The independent company is co-owned by 12 North American financial institutions. To learn more, please visit www.akoya.com.