GreenBox Granted SOC 2 Type 2 Certification, Assuring Security, Compliance, andRisk Management Controls
GreenBox POS (NASDAQ: GBOX) ("GreenBox" or the "Company"), an emerging and rapidly growing Fintech company announced today the completion of the System and Organization Controls (SOC) 2 Type 2 certification audit on controls relevant to the security trust services category. The independent audit was conducted by Armanino, LLP for the time period of November 1 st 2021 through January 31 st 2022.
SOC 2 Compliance is a widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA). A SOC 2 Type 2 report describes a service organization's systems and whether the design of specified controls meets the relevant trust services categories and assesses the effectiveness of those controls over a specified period of time.
Obtaining the certification verifies GreenBox controls and processes meet the AICPA's trust service criteria corroborated through a rigorous and independent audit. While SOC 2 certification is not a requirement under any regulatory body, it is considered the gold standard for establishing trust with customers.
"GreenBox customers rely on our customized payment solutions software as the lifeline for their businesses. This requires the trust and integrity of our security, controls and risk management processes as well as strict adherence to compliance," said Fredi Nisan, Chief Executive Officer of GreenBox. "By completing the SOC 2 type 2 certification, not only do we align ourselves with the industry standards followed by world class organizations, but given our strong growth trajectory, it is indicative of our commitment to protecting both our internal and external constituents while building trust with rigorous control processes and prudent risk management."