Home News Altigo Completes Third-Party Data Security Audit

Altigo Completes Third-Party Data Security Audit

WealthForge, a provider of technology services for alternative investments, reported that its electronic investment processing platform, Altigo, has completed an independent SOC 2 Type II audit.

WealthForge, a provider of technology services for alternative investments, reported that its electronic investment processing platform, Altigo, has completed an independent SOC 2 Type II audit.

“Data security is a top priority at WealthForge,” said Bill Robbins, chief executive officer. “We wanted to take the extra step with this third-party audit to demonstrate our commitment to protecting the sensitive information that Altigo is designed to capture, providing our clients with an added level of trust in us as a partner.”

SOC 2 is an audit procedure developed by the American Institute of Certified Public Accountants to review a service provider’s controls around the security, availability, processing integrity, confidentiality, or privacy of user’s data. This audit conducted by licensed CPAs results in a final report that evaluates an organization’s stated data security policies and controls against its actual practices.

There are two types of reports, Type I and Type II. A Type I report is an attestation of controls at a specific point in time, whereas the more rigorous Type II report is an attestation of controls over a period of time.

Altigo captures and transmits sensitive investor data on a daily basis as part of the alternative investment subscription process. WealthForge instituted a cybersecurity program and engaged a licensed CPA firm to review existing data security policies and controls. Auditors reviewed controls around security, availability, and confidentiality and issued a SOC 2 Type II report in mid-January 2021.

Wealthforge indicated that an organization that has obtained a SOC 2 Type II report has shown that its system is designed to safeguard the confidential data of its customers. Altigo will undergo a SOC 2 audit on an annual basis going forward, the company said.

WealthForge provides technology services to streamline investments into alternative securities. The company’s electronic investment processing platform, Altigo, was built to address common industry roadblocks, enable marketplace connections, and facilitate alternative investment transactions between wealth managers and sponsors.

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