A recent article in American Banker magazine stated that Federal bank regulators recommend that financial institutions take special precaution when using third-party cloud computing services. Bank regulators suggest ensuring that the solution provider has controls in place to reduce risk that are in line with the policies set by bank management. Also, banks should ensure that all transactional activity be conducted in a safe and sound manner and is compliant with applicable laws and regulations.
NES Financial is committed to meet the highest standard for security, transparency and compliance in the market. Our cloud-based solutions have the controls recommended by the Federal bank regulators and more.
We recently announced that NES Financial successfully completed its seventh consecutive annual audit based on reporting standards established by Statement on Standards for Attestation Engagements No. 16 (SSAE 16), the successor to the SAS 70 Type II audit.
The SSAE 16 Type II audit is a similar level of certification needed to obtain a federal bank charter and comply with Sarbanes-Oxley Section 404 requirements. NES Financial ensures administrative steps are never missed, resulting in compliance to both government standards for financial controls, privacy, and reporting.
In addition to the SSAE 16 Type II audit, NES Financial also voluntarily completes a network security audit done by a 3rd party each year to ensure we follow best practices and exceed the network security standards our customers expect.
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