Irvine, California – February 16, 2023 – GoDocs, the automation leader in commercial loan document generation, announced today that it successfully completed its SOC 2 Type II audit, and the company is fully certified. This most recent achievement marks another milestone in GoDocs’ ongoing commitment to partner with our customers in all aspects of their business, including the highest levels of data security and privacy protection.
The SOC 2 Type II audit was conducted by an independent auditor, Sensiba San Filippo, LLP (SSF). The rigorous examination verified that GoDocs’ systems and controls meet the stringent security and privacy requirements of the American Institute of Certified Public Accountants (AICPA). The audit addressed a wide range of areas, including system availability, risk management, confidentiality, privacy policies, and system processing integrity.
A Commitment to Best Practices
This announcement follows months of concerted effort on the part of the talented and knowledgeable team at GoDocs to ensure not only that its security protocols are properly implemented but also that safeguards are in place to manage and maintain the standards. The SOC 2 Type II certification is an important industry benchmark that customers rely on when selecting a digital platform to manage their documents. Earning the certification is a highly commendable achievement and, as a voluntary compliance certification, speaks directly to GoDocs’ commitment to data security and best practices within privacy protocols.
GoDocs: Prioritizing Lender and Customer Needs
The industry has reached a pivotal crossroads where security must become a top priority. “Any loan document provider that has not yet to adopted SOC 2 compliance presents a significant risk to lenders from unmitigated vulnerability due to data breaches or service availability by bad actors or by providers operating outside of best practices boundaries,” says GoDocs CEO, Stephen Butler. “Another major concern is the common practice by law firms and doc providers of sending customer data and commercial loan terms to offshore customer support to generate and review loan documents for lenders. This alone can result in unauthorized access or manipulation of customer data, leading to serious issues such as identity theft, financial fraud, and selling of customer data. These practices can destroy trust between a lender, their service provider, and even worse, the lender’s customer. To be SOC2 certified, as GoDocs now is, means none of this is allowed.”
To help ensure the safety of customer information and maintain customer trust, lenders should look to partner with document providers that have achieved SOC 2 compliance and fully embraces safe data practices. Unlike legacy document providers that have not adopted stringent data security protocols, GoDocs pairs SOC 2 compliance with 100% onshore support, minimizing such potential threats.
The GoDocs Difference
This audit places more space between GoDocs and the competition and sets a new standard for other companies and law firms to rise to meet— great news for the industry and its customers. Once again, through its dedicated, customer-centric approach, GoDocs is pushing the entire industry into a safer and more efficient future while offering unprecedented levels of support to customers.
As lenders look to evolve their digital transformation footprint, it’s important to note that while CRE attorneys provide lenders with client-attorney confidentiality agreements and utilize custom-developed security levels, this protection is not at the same level as SOC 2 Type II compliance. “I have worked in the industry for over 20 years, and I have never encountered a CRE law firm that has achieved SOC 2 Type II certification,” says GoDocs General Counsel, Brenda Gordon. “This is an important achievement and something that customers should note as they think about their own security concerns and which provider is the right choice for them.”
“We take great pride in the fact that our commitment to customer privacy has been thoroughly tested and validated by an independent third party,” says GoDocs IT Manager, Scott Cameron. “As more banks, credit unions, and private lenders innovate lending processes with the help of SaaS, cloud-based solutions, it’s essential that they partner with a provider they can trust — one who takes data protection seriously. By setting a new standard for security and privacy, GoDocs is essentially challenging the rest of the industry to rise to the task in a way that will forever change the lending space.”
This certification reflects GoDocs’ mission to deliver the best automated commercial loan documentation software on the market. GoDocs continues to prioritize protecting customer information through effective security measures such as multifactor authentication (MFA) logins and encryption protocols — ensuring data authenticity and enhanced user privacy at every stage of their journey within the GoDocs platform. Customers can be confident that their confidential data will remain safe with GoDocs’ advanced security measures in place.
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About GoDocs
GoDocs, the automation leader in commercial loan document generation, offers a next-generation software platform for banks, credit unions, and private lenders that creates a streamlined process for closing commercial loans. The first and only purely SaaS system for automated loan document generation, GoDocs provides lenders with a digital solution that requires no training to use. The company has the #1 NPS customer satisfaction score in the industry and is trusted by industry-leading banks as well as community banks, Federal and local credit unions, and private lenders of all sizes. GoDocs is proud to back its solutions with 100% onshore support.
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