OLS, a global payment technology company, is proud to announce today the completion of another successful Type 2 SOC 2 examination. Formally known as a “Report on Controls at a Service Organization Relevant to Security, Availability, Processing Integrity, Confidentiality, or Privacy,” this examination is part of OLS’s strategy of and commitment to information and data protection. It also demonstrates the ongoing effectiveness of OLS security controls.
This is the third consecutive Type 2 SOC 2 examination for OLS. “This examination is an important part of our overall security strategy, but it’s just a portion of it.” said Terry Richards, President of OLS. “We like to say that security is baked into everything we do.”
Performed by the CPA firm Schellman & Company over the period of February 1, 2018, to January 31, 2019, the examination determined that OLS’s platform, operation, policies and procedures meet or surpass the SOC 2 requirements. The OLS examination covered security and availability, two of the five Trust Service principles from which a service organization may opt to be evaluated against as part of a SOC 2 examination. The framework for the examination was established by the American Institute of Certified Public Accountants.
As part of its ongoing commitment to maintain robust security standards, OLS plans to continue to request and participate in annual Type 2 SOC 2 examinations.