PactFi is designed to change the way that private markets function by making it easier for deal participants to collaborate across firms and by bringing previously static data associated with a transaction to life.
The key to achieving those objectives and to delivering a product that is consistent with our clients’ standards is security. The financial institutions that we serve handle highly sensitive information on a day-to-day basis, and it’s vital for the tools that they use to be able to secure that data reliably.
That’s why one of PactFi’s first strategic objectives after its founding less than a year ago was to achieve SOC 2 Type 1 compliance. After months of hard work and dedication from the entire team and through a fruitful partnership with the incredible team at Laika, we are thrilled to announce that our goal has been achieved!
SOC 2 Type 1 Certification is a key step for PactFi as we work with some of the world’s foremost private asset managers to bring efficiencies to a market that lacks end-to-end operational infrastructure and that has long been constrained by manual workflows.
The Laika team will monitor our security posture on an ongoing basis to ensure continuous compliance and has been instrumental in helping us to reach this milestone.
"Pactfi has taken all the right steps to intelligently design their information security program through SOC 2. With growth and assurance in the forefront of their program, PactFi customers can feel peace-of-mind when it comes to data security," said Eva Pittas, COO at Laika. "We look forward to seeing their success in the future through continuous compliance and a Type 2 report."
Please see below for more information about what this attestation means.
What is SOC 2 compliance?
SOC 2 is a compliance standard developed by the American Institute of CPAs (AICPA) that specifies how organizations like PactFi should manage customer data. The standard is based on the following Trust Services Criteria:
Organizations that handle customer data can achieve compliance by voluntarily undergoing a rigorous audit and assessment of the above criteria.
Why is SOC 2 compliance important?
Financial institutions that use PactFi to manage their operations place a significant level of trust in us with their data. Achieving SOC 2 Type 1 compliance is our way of reciprocating that trust and demonstrating a high level of commitment to handling their data securely. Please feel free to reach out to support@pactfi.com with any additional questions or to request a copy of our SOC 2 report.
