deBanked, "Lendio Achieves SOC 2 Compliance" Hanson quoted as SVP, General Counsel, July 12, 2022
Summary
A deBanked article by Anaya Vance, dated July 12, 2022, reports that Lendio recently achieved SOC 2 compliance, a voluntary designation focused on data security that the article says is not commonly sought by Lendio's peers. SOC 2 is defined by American Institute of Certified Public Accountants guidelines and issued by outside auditors. Ethan Hanson, SVP, General Counsel at Lendio, is quoted saying small and medium sized business owners benefit because they know the company takes their information seriously. He describes an audit in which an outside party reviews all of the company's policies and systems, and the article says the process takes months of preparation.
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Cited in: Ethan Hanson
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“deBanked, ‘Lendio Achieves SOC 2 Compliance’ Hanson quoted as SVP, General Counsel, July 12, 2022.”
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Brokers MCA Video Tutorials Lead Sources Collections Firms Free UCC Search Links SMB Finance Rankings MCA Industry Attorneys UCC Filing Alias List TV Sponsors Info Forum Lendio Achieves SOC 2 Compliance July 12, 2022 | By: Anaya Vance Lendio recently achieved SOC 2 compliance. Short for Service Organization Control 2 and pronounced “sock two,” the voluntary designation for Lendio, which focuses on data security, is not commonly sought by its peers. SOC 2 is defined by American Institute of Certified Public Accountants (AICPA) guidelines and issued by outside auditors. The AICPA itself is an association that provides educational guidance materials, develops and grades the Uniform CPA Examination, and monitors and enforces compliance within the profession. “We focus on small and medium sized business owners and their businesses,” said Ethan Hanson, SVP, General Counsel at Lendio, “and they benefit because they know they’re dealing with a company that is secure and takes their information seriously and handles that information with care.” The process in obtaining this certification takes months of preparation and covers data security, data privacy, HR and accounting functions, making this an all-encompassing certification. “The process is you engage with an audit party, they come in, and they review all of your policies, all of your systems, how our database is set up and the framework that you have and ensure that all those policies cover our business operations, and that they are also in line with the standards of the AICPA,” said Hanson. Last modified: July 12, 2022 Anaya Vance was a reporter for deBanked. Category: Business Lending Home › Business Lending › Lendio Achieves SOC 2 Compliance Help Wanted
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