Horizon Software Successfully Completes Service Organisation Control 2 type 1 Audit
- 15.12.2020 01:59 pm
Horizon Software, leading provider of electronic trading solutions and algorithmic technology for the global capital markets, today announces that it has successfully completed its System and Organization Controls (SOC) for Services Organizations (SOC 2®)Type 1 examination as of 15 November 2020 for their Managed Services with trusted third-party security and compliance firm, A-LIGN ASSURANCE (A-LIGN).
Following the launch of its managed services offer, Horizon immediately began exploring a SOC 2 examination, designed by the American Institute of Certified Public Accountants. Financial institutions are increasingly concerned with the operational risks of outsourced hosting and data services, especially with the added risks of working from home. The success of this examination demonstrates that Horizon Software has designed their controls to provide reasonable assurance to customers that its services commitments and systems requirements were achieved throughout their entire workflows, acknowledging them as a reliable and trusted partner.
This marks the first in two examinations. Now Horizon Software has secured Type 1, it has set its eyes on achieving Type 2 by June 2021, for which A-LIGN will review the design and operating effectiveness of Horizon Software’s controls around infrastructure, software, people, data, processes and procedures.
Francis Leclerc, Head of Managed Services at Horizon Software, said: “This is a key milestone in our roadmap. While operating managed services, we take the full responsibility of directly handling the data of our clients. SOC 2 was the obvious approach to reach and comply with the highest standards of quality and security. And it has greater recognition in some of our key growth markets, such as APAC and the US.”
Sylvain Thieullent, CEO of Horizon Software, added: “Security has always been something we take very seriously. Our company is made of 75% technology professionals, so it’s always had a lot of importance placed on it internally, but we wanted to show that ongoing dedication to the market as quickly as possible. The team has proactively taken the steps to secure this report and now we can look to achieve Type 2.”
Huw Pegler, VP of EMEA and Asia Pacific at A-LIGN, said: “SOC 2 is a challenging audit for many software providers. Its increasing recognition means it is an ever more popular standard in Europe, particularly for firms seeking to grow their business in the US. As a trusted third-party security and compliance firm, A-LIGN scrutinises client data processes and procedures, governance on internal controls and security posture. The success of Horizon Software’s SOC 2 Type 1 examination reiterates its commitment to their customers in international information security management standards to mitigate cybersecurity risks.”