Atlanta Accounting and Advisory firm Porter Keadle Moore (PKM) said that the end-to-end lending platform, Lendsum has chosen the company to perform its SOC 1 & SOC 2 reporting. The firm caters to private as well as public financial institutions, technology companies, entrepreneurial small businesses, and insurers.
With financial institutions increasing their inspection of third-party vendors, Lendsum sensed the need to offer up-front, liberal reporting of its in-house security controls and processes.
Following the evaluation of several companies, Lendsum finalized PKM to perform its SOC 1 and SOC 2 reports, owing to the company’s rich experience and expertise in working with the financial technology fintech firms, credit unions, and banks. The provider also mentioned PKM’s readiness to offer better support and feedback during the procedures as selection drivers.
The Spain-based provider assists financial institutions in navigation, and provide them easier access to stored data, allowing credit unions and banks to take faster, smarter lending and credit moves for members and customers.
Lendsum co-founder and CEO, Alex Thiriez said that PKM has served as a true companion since the beginning of their SOC reporting, and has given their significant time to the company by planning every move to ensure smooth operations.
Thiriez added that with PKM’s proven knowledge and strategic supervision, the firm has helped their organization to actively guarantee compliance to their community financial institution customers, as they continue to work hard to give a tough competition to their regional as well as national competitors.
Porter Keadle Moore Systems Partner Mike Morris said that the rapidly shifting regulatory pressures have been forcing credit unions and banks to be stricter in their requirements when they evaluate and work with the financial technology or service providers.
Morris added that Lendsum’s SOC 1 and SOC 2 reporting is integral to showcase that the company possesses high-end protections and controls to reinforce collaboration with potential financial institutions and clients.
Nandini Roy Choudhury is a thought leader and subject matter expert on a range of industries, notably retail & consumer goods. Her analytical skills and lucid qualitative analysis have made her an authoritative figure on this domain.