Achieving SOC 2 Type 1 Certification: A Milestone for Ramp

Understanding SOC 2 Type 1

‍SOC 2 Type 1 is a certification developed by the American Institute of CPAs (AICPA) that evaluates a company's information security measures against Trust Service Criteria (TSC). It focuses on five trust service principles:

• Security
• Availability
• Processing integrity
• Confidentiality
• Privacy

Achieving this certification means Ramp has established strict information security policies and procedures, relevant to security and data protection. It's not just a badge of honor; it's a testament to a company's dedication to safeguarding sensitive information and managing data responsibly.‍

Why It Matters

Information Security and Data Protection are critical in the ever changing crypto world, our partners and users expect the highest levels of protection and entrust us with their sensitive financial information. SOC 2 is a globally recognised and widely used certification that sets a clear benchmark and standard for information security and data protection. SOC 2 Type 1 certification demonstrates that their data is handled with the highest care and protection. 

Ramp's Journey to SOC 2 Type 1 Certification

SOC 2 Type 1 certification was a rigorous process, requiring the meticulous design and implementation of security processes and controls. This achievement reflects our ongoing efforts to enhance our security framework, from instant integration and smart KYC to seamless UX and comprehensive compliance measures. Our recent enhancements, particularly the launch of improved KYC capabilities in Brazil, underscore our dedication to elevating security and compliance practices.

A Continued Commitment

Ramp continues to improve its security and compliance practices for both users and partners. After recently launching improved KYC capabilities in Brazil, Ramp announces its SOC 2 Type 1 certification, reaffirming our strong and robust security and compliance processes internally and externally. This certification is not an endpoint but a milestone in our ongoing journey to foster trust and security within the crypto economy.

As we move forward, our focus remains on advancing our security and compliance infrastructure, ensuring that we not only meet but exceed the industry standards. This certification is a clear indication of our commitment to providing a secure, trustworthy platform for converting between cryptocurrencies and fiat currencies, supported in over 150 countries and fully integrated with major payment methods.

At Ramp we are leading the charge to connect the traditional financial infrastructure with the cryptocurrency economy, this is another step towards making it a reality.