Formidium’s Security and Privacy is NOW more Reliable with ISO 27001 Certification and SOC 1, 2, and 3 Audits


Formidium, a market pioneer in third-party fund administration and back-office technology solutions, has been certified by Bureau Veritas UK as compliant with ISO/IEC 27001:2013. SOC 1 (Type 2), SOC 2 (Type 2), and SOC 3 audits for the year 2022 were also performed by the company. Atlanta office of Wipfli LLP, a Wisconsin, USA-based CPA firm performed the SOC audits of Formidium.

The achievement of ISO/IEC 27001:2013 accreditation by Formidium demonstrates its dedication to safeguarding the data of its clients and upholding the company’s stringent requirements for data security, confidentiality, integrity, and system availability. The accomplishment of this accreditation also illustrates Formidium’s dedication to data security, business continuity, and risk management. The requirements for Information Security Management System(ISMS) are laid forth in the international standard. A framework for managing sensitive data and maintaining its security is provided by ISO/IEC 27001:2013. It outlines the procedures for developing, putting into practice, upholding, and constantly enhancing information security.

The Company’s goals for guaranteeing the security, accessibility, and confidentiality of client data are met through SOC audits, which are built to do so. They provide users and the organization’s auditors confidence that the organisation has complied with the standards set by the American Institute of Certified Public Accountants. In this environment, financial and data assets are protected and strong information security policies (ISP) are followed. Financial reporting, transaction processing, and/or upkeep of relevant sensitive data are all covered by SOC 1 (Type 2) audits. Internal control effectiveness, operations, and compliance are all covered by SOC 2 (Type 2) audits.

“Achieving ISO 2700:2013 certification and SOC audits shows our commitment to internal controls, security, data protection, and privacy protection,” said Manish Agrawal, Co-Founder and Chief Solutions Officer of Formidium. “Formidium puts a high priority on protecting our customer data and providing a controlled environment. These certifications and audits demonstrate our commitment to maintaining the highest level of security for our clients.”

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