LTi Technology Solutions, an equipment finance software solutions provider, has achieved Service Organization Control (SOC) 1 Type II and SOC 2 Type II compliance audits for LTi’s ASPIRE Platform and products hosted via LTiCloud, the company’s cloud environment.
SOC 1 and SOC 2 compliance certifications are standards of attestation defined by the American Institute of Certified Public Accountants (AICPA), certifying that LTi has met the rigorous criteria relating to security, availability, confidentiality and privacy of data.
“This is LTi’s ninth consecutive year that LTi has completed SOC 1 Type II certification and the second year that we have completed SOC 2 Type II certification,” said Bill Weeks, LTi SVP and COO. “Completing these audits is a testament to the ongoing commitment LTi has to ensuring our comprehensive control framework is secure and demonstrates our process excellence and maturity.”
Service Organization Control (SOC) 1 Type II: This certification demonstrates LTi’s dedication to protecting customers’ security of sensitive data. In accordance with the Statement on Standards for Attestation Engagement No. 18 (SSAE 18), receiving a SOC 1 Type II certification assures customers that the company has the proper internal controls in place to deliver secure services. SOC 1 Type II certification also certifies that LTi consistently follows the controls it has in place to ensure confidentiality, integrity, and availability.
Service Organization Control (SOC) 2 Type II: This certification is the most rigorous certification within the SOC protocol spanning a comprehensive annual evaluation. Obtaining SOC 2 Type II certification shows that LTi has the highest level of commitment to proving that systems are designed to keep customers’ sensitive data secure. Obtaining SOC 2 Type II certification gives customers the peace of mind knowing that specific security processes and controls are in place and has been extensively evaluated by an independent auditor.
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