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Higlobe Completes SOC 2 Type 2 Examination

Higlobe Completes SOC 2 Type 2 Examination

Higlobe is the only private SOC 2-compliant payment platform delivering global money transfers with zero transaction fees

Higlobe, Inc., a US-based fintech start-up focused on providing no transaction fee money transfers to global workers, announces its completion of a SOC 2 Type 2 examination for its Higlobe web application.

The successful completion of the SOC 2 examination plays a vital role in securing customer data. Achieving SOC 2 security compliance highlights Higlobe’s operational excellence and underscores its ability and commitment to keeping sensitive client data safe.

The independent audit was administered by Coalfire Controls, LLC., the CPA arm of a leading cybersecurity consultancy, Coalfire Systems, Inc. Since its launch, Higlobe has committed to ensuring that compliance and security is integral to the Higlobe web application. SOC 2 compliance is an internationally recognized benchmark of security, and as Higlobe looks to expand its services to new territories, compliance with security industry standards and best practices is a top priority.

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“Higlobe’s SOC 2 compliance is a major step forward for us and demonstrates our commitment to industry standards by undergoing rigorous independent testing,” said Higlobe CEO Teymour Farman-Farmaian. “We understand the immense responsibility to protect sensitive information, and continually invest in security experts, leading technologies, and robust security protocols.”

System and Organization Controls (SOC), a rigorous standard developed by the American Institute of Certified Public Accountants (AICPA), is a form of attestation which provides industry-wide acknowledgment that a company adheres to trust services criteria. SOC reports deliver valuable information for clients and partners, enabling them to assess the quality of security provided by their service providers.

A SOC 2 Type 2 report is an attestation of compliance with industry standards for security, and it provides assurance over a period of time regarding the design and operating effectiveness of the controls that an organization has put in place to protect customer data.

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“Coalfire is excited to partner with Higlobe to provide their most recent SOC 2 Type 2 assessment. The Higlobe team was committed to the goal of completing a SOC 2 assessment within a shortened time frame, which requires a significant effort on their part.  Their dedication to both compliance and security in their environment is admirable and made them a joy to work with,” says Kelsey Dethlefs, Senior Security Consultant, Coalfire.”

“If you look at other players in Mexico and Brazil, Higlobe is the only private SOC 2-compliant platform delivering no transaction fee global money transfers to meet this rigorous security standard. We’re thrilled to offer a SOC 2-compliant product to remote workers earning in USD,” remarked Farman-Farmaian.

Higlobe is the first zero transaction fee, subscription-based payment service that offers customers the ability to make unlimited transfers each month for one flat rate. Higlobe is available to customers in Mexico and Brazil.

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