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LTi Achieves SOC 1 Type II and SOC 2 Type II Certifications

March 10, 2020, 07:20 AM
Filed Under: Company Announcements

LTi Technology Solutions (LTi), a leading provider in equipment finance software solutions, announced it has achieved Service Organization Control (SOC) 1 Type II and SOC 2 Type II compliance audits for LTi’s ASPIRE Platform and products hosted via LTiCloud, the company’s cloud environment.

SOC 1 and SOC 2 compliance certifications are standards of attestation defined by the American Institute of Certified Public Accountants (AICPA), certifying that LTi has met the rigorous criteria relating to security, availability, confidentiality and privacy of its data.

“This is LTi’s ninth consecutive year that LTi has completed SOC 1 Type II certification and the second year that we have completed SOC 2 Type II certification. Completing these audits is a testament to the ongoing commitment LTi has to ensuring our comprehensive control framework is secure and demonstrates our process excellence and maturity,” said Bill Weeks, LTi Senior Vice President and Chief Operating Officer.

Service Organization Control (SOC) 1 Type II: This certification demonstrates LTi’s dedication to protecting our customers’ security of sensitive data. In accordance with the Statement on Standards for Attestation Engagement No. 18 (SSAE 18), receiving a SOC 1 Type II certification assures our customers that we have the proper internal controls in place to deliver high quality, secure services. SOC 1 Type II certification also certifies that LTi consistently follows the controls it has in place to ensure confidentiality, integrity, and availability.

Service Organization Control (SOC) 2 Type II: This certification is the most rigorous certification within the SOC protocol spanning a comprehensive annual evaluation. Obtaining SOC 2 Type II certification shows that LTi has the highest level of commitment to proving our systems are designed to keep customers’ sensitive data secure. Obtaining SOC 2 Type II certification gives our customers the peace of mind knowing that specific security processes and controls are in place and has been extensively evaluated by an independent auditor.

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