We're very excited to share that Sandbox Wealth has completed its first SOC 2 Type II audit, with no exceptions noted. A SOC 2 examination is a report on controls at a service organization, including fintech platforms like Sandbox. These reports cover an array of "trust services criteria" relevant to security, availability, processing integrity, confidentiality, or privacy. SOC 2 reports are intended to meet the needs of a broad range of users who need detailed information and assurance about the controls at a service organization. For early-stage firms, institutional relationships often hinge on an ability to deliver evidence of a clean SOC 2 report. We kicked off this process nearly a year ago, and it's taught us some extremely valuable lessons. I'd like to share five key takeaways: 1. An ounce of prevention is worth a pound of cure. Ensuring data privacy is not just about compliance but about proactively identifying and mitigating risks. We’re building a culture that is consistently vigilant about identifying vulnerabilities before they present themselves. 2. Stagnant risk management practices can be fatal. The SOC 2 audit process emphasizes the importance of continuous monitoring and improvement. This audit isn’t a one-time deal. As we’ve seen with the emergence of AI, risks are constantly evolving, and remaining SOC 2 compliant over time will ensure we are prepared to manage emerging risks. 3. Transparency builds trust. By undergoing a SOC 2 audit at such an early stage, we’ve built a dedication to transparency into our foundation. Our partners and prospects can access our full SOC 2 report and gain detailed insights into each test we passed. 4. Security is a team sport. Completing this process required the collective effort of our entire team, from new hires to our founders. Collaboration, communication, and responsiveness are critical traits by which we measure success internally, and everyone played a role in this successful audit. 5. Client Confidence: Most importantly, this achievement gives our members and partners confidence that their sensitive information is protected. Sandbox is a safe environment where our members can gather insights, explore myriad solutions, and execute a well-considered strategy to manage their balance sheets and cash flow across generations. Thank you to Christine Izuakor, PhD, CISSP, and Bill Dixon CISSP, CISM, CRISC, for sharing their thoughts in the blog post linked below. We also couldn't have done this without the help of many people who devoted their time and energy to making our platform a safe place for our members to manage and deploy liquidity. Andrew Nelson, PhD Justin O'Boyle Ellen Studer Mfoniso Ekong Destiney D. Mohammed Precious P. Drew Moiz Dawoodbhai Craig Schedler Megan Fulton VioletX Vanta Johanson Group LLP
We're extremely proud to announce that we have completed our initial SOC 2 Type II audit. This marks the completion of one of our first major initiatives, and after nearly a year of planning, we couldn't be more excited about building our platform on a stable, secure foundation. To mark this achievement, we spoke to Dr. Christine Izuakor of Cyber Pop-up and Bill Dixon of VioletX to get their thoughts on why the human element of cybersecurity is so critically important, as well as diving into detail about the relevance of SOC 2 in driving trust with clients and partners. We feel our platform provides Risk Management as a Service, and enables our members to devote more time to preserving and growing their liquid capital. Thank you to the teams at Vanta, VioletX, and Johanson Group LLP for partnering with us on this effort, and to our dedicated team of engineers, who have fully bought in to building an innovative, security-first platform.
Marcel Conyers
1mo
Incredible leadership foresight to build in solid IT and cyber risk management practices from Day 1. Outstanding!
Moiz Dawoodbhai
1mo
Congrats to the Sandbox Wealth team! This is great news.
Brian Mitchell
1mo
Such an important milestone. Wishing you continued success!
Megan Fulton
1mo
It was a pleasure to build this with you and your team, Ray!
Abim Kolawole
1mo
Congratulations Ray Denis. Your perspectives are spot on. Great work
Congratulations!
Molly Dexter
1mo
Love to see it Ray!
Matthew Parker
1mo
Nice work.
Machine Learning/Deep Learning in Fintech and Healthcare, Quantum Computing project lead
1moThat's amazing Ray!! And this is just the starter - can't wait for the main course!