Clair completes SOC 2 Type II certification, furthering its security and compliance
By Edlyn Cardoza
Clair, a New York-based financial technology company, recently announced that Sensiba San Filippo LLP has certified the company as Service Organization Control (SOC) 2 Type II compliant. This certification confirms that Clair achieved the AICPA’s Trust Services Criteria for Security, Availability, Confidentiality, Processing Integrity, and Privacy.
Developed by the American Institute of Certified Public Accountants (AICPA), the SOC 2 information security standard is an audit report on the examination of controls relevant to the trust services criteria categories covering security, availability, processing integrity, confidentiality and privacy. After announcing its successful completion of the SOC 2 Type I audit earlier this year, the company has now passed the next level of security and compliance. While the SOC 2 Type I certification states that Clair was compliant at a specific point in time, the SOC 2 Type II certification confirms that Clair’s security and compliance controls have been effective for more than six months.
Nico Simko, CEO of Clair, states, “Our goal is for our partners and users to never have to think about whether Clair is secure. Our business requires us to prioritize security and compliance, so we want to always meet or exceed industry standards for both as we become the most competitive on-demand pay provider in the market.”
There are a number of states considering legislation or regulations of on-demand pay providers. Because Clair does not charge employees for wage advances, the company is confident that it will be able to satisfy the requirements of the laws and rules being considered. This, together with its SOC 2 Type II certification, solidifies Clair as a leader in security and compliance in the on-demand pay space.
This announcement comes during a period of growth for Clair, as the company recently announced partnerships with leading HR tech platforms When I Work and Workwell, as well as a $15 million Series A funding round earlier this year.
IBSi Daily News Analysis
August 16, 2022
AICPA’s Trust Services Criteria
Self-employed struggle to access financial services. What can FinTech do?Read More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage
Other Related News