Q1 2024 Technology Updates
Recycling
Acupay continues to modernize and update our technology infrastructure. Hardware inevitably exceeds its useful life and needs replacement. In instances like this, and in line with our ESG commitment, Acupay works to be socially responsible by limiting the amount of waste being created.
To that end, Acupay works with technology recycling companies in both New York and London. They provide secure destruction of outdated physical data storage for security purposes, as well as proper and safe recycling of the technology hardware itself. In some cases, technology may even be securely repurposed for people who lack resources for technology.
In doing this, we keep data security and privacy intact while being mindful to operate in a sustainable manner.
DTCC Connection Upgrades
Acupay continues to build our connected ecosystem of partners and data providers. In November, we upgraded our connectivity with the Depository Trust and Clearing Corporation (DTCC) for market information to a fully redundant, hosted, full-time VPN connection. This will allow full-time high-speed connectivity to ensure we can provide corporate action data to our customers and assist them through tax mitigation and reclaims, redemptions, and corporate action events. It also allows us to continue providing high-quality and timely data to our customers and users.
Swift CSCF Attestation
As a member of the Swift community, our connectivity to Swift is critical to providing both our business and our customers with high-quality data. Ensuring that controls exist to protect that data, and the larger community, is of equal criticality. That is where Swift’s Customer Security Controls Framework (CSCF) comes in. The CSCF consists of both mandatory and advisory controls that the Swift community must implement and attest to annually to comply with the program. In accordance with Swift, Acupay has once again completed an annual third-party assessment and attestation of those controls, which is published through Swift.
SOC 2 Audit
Establishing trust is critical to any business in a world of data breaches and information leaks. It is also a competitive differentiator. That is why SOC 2 compliance is so important. SOC (System and Organizational Controls) is a framework developed by the Association of International Certified Professional Accountants (AICPA) for the purpose of providing a regular, independent attestation of the controls that a company has implemented to mitigate information-related risk.
Acupay is again working with the renowned accounting firm Marcum LLP to complete a SOC 2 Type 2 audit in 2024. This is a follow-up to the SOC 2 Type 1 audit completed in 2023. The Type 2 audit does a one-year look back to confirm the implementation and quality of those controls identified in the Type 1, ensuring continued compliance.