EFG’s Continued Leadership in Both Compliance and Technology Sets Industry
Bar for Customer Service Excellence
EFG Companies, the innovator behind the award-winning Hyundai Assurance program, announced today it has been awarded the Service Organization Control 1 (SOC 1) Certification under the Statement of Standards for Attestation Engagements 16 (SSAE 16) guidelines from the American Institute of Certified Public Accountants (AICPA). This certification represents another significant achievement in EFG’s ongoing commitment to ensure industry-leading compliance for its clients and customers.
SSAE 16 is the most widely-recognized standard providing companies with a method for reporting information about the design and operation of internal systems and controls relating to privacy and security regulations. SOC 1 reports are designed to certify whether a company utilizes uniform and reliable safeguards as a processor of data belonging to their clients and customers.
For EFG to obtain the SSAE 16 SOC 1 certification, more than 70 processes that could affect data security and business flow were evaluated. Examples of the processes evaluated include: