Arlington, TX – November 26, 2013 – First Rate, a leading provider of performance measurement solutions for the financial services industry, today announced it has received its final SSAE SOC2 Type 2 report for 2012-2013.
“First Rate aims to provide exceptional service and ensure confidentiality to our clients,” said Bo McWilliams, Chief Operations Officer of First Rate. “This confirmation affirms that our corporate facilities, data centers, and information security practices and procedures exceed the standards described in the SSAE 16.”
The Statement on Standards for Attestation Engagements (SSAE) No. 16 is a certification of a vendor’s policies, procedures, and data security controls. The reporting standard is a requirement for firms that are responsible for handling confidential and proprietary data. The SSAE 16 replaces the SAS 70 as the authoritative guideline for reporting on organizations. The Service Auditor’s Report by a third-party organization differentiates the service organization by demonstrating the establishment of control objectives and effectively designed control activities.
For more than 10 years, First Rate has met the standards designated for the SAS 70 and now the SSAE 16, being recognized as an organization that has gone through the in-depth audit of its control objectives and control activities, including controls over information technology and related processes.
For more information about the SSAE 16, please visit http://ssae16.com/index.html.