LONDON — KOR Financial, an innovator of trade repositories and trade reporting products, has announced that it has successfully completed the Service Organization Control (SOC) 2 Type II certification. Achieving SOC 2 Type II is a significant milestone for KOR, demonstrating the company's commitment to the industry's highest standards for managing and securing customer data through privacy, confidentiality, suitability of controls, and operating effectiveness.

“At KOR, trust and transparency are at the core of everything we do,“ shares Wouter Sliedrecht, Chief Administrative Officer at KOR. “Building amazing services for us also means hyper-focusing on automated controls across our business to ensure adherence to security and accountability, giving clients even greater confidence that their data is being carefully stored and protected.”

Andreas Evers, KOR’s Chief Technology Officer elaborates, “At KOR we embrace modern engineering practices such as DevOps, Infrastructure as Code, GitOps, and eXtreme Programming. Many of these practices cultivate the same principles SOC 2 assesses. Achieving compliance demonstrates our commitment to following strict security policies and procedures, encompassing the security, availability, and confidentiality of customer data.”

SOC 2 Type II is a voluntary compliance gold standard for companies operating and storing data in the cloud. The standard is based on the five principles of security, availability, processing integrity, confidentiality, and privacy. By completing this certification KOR demonstrated the ability to not only implement critical security policies but also prove compliance over an extended period of time. KOR looks to extend its commitment to security and global expansion in 2023 with the addition of the ISO 27001 certification.

ABOUT KOR

U.S.-based KOR Reporting is a CFTC-licensed and the first independent Swap Data Repository ("SDR"), delivering solutions that enable market participants to meet reporting mandates for OTC derivative trades and lifecycle events. KOR Financial is a fintech company that develops future-minded technology innovations explicitly tailored for processing and management of trade life cycles in derivatives markets. KOR replaces many common reporting functions performed internally by clients today and solves long-standing systemic industry reporting challenges with novel innovations and pioneering technology. The KOR team comprises former trade repository heads, SMEs, and technology pioneers, creating the first intelligent transactional derivatives platform.