Genesis Global, the low-code application development platform purpose-built for financial markets organizations, announced it has “been certified as SOC 2 Type 2 compliant and adheres to the highest industry standards for data security.”
The Systems and Organization Controls (SOC) standards are “governed by the American Institute of Certified Public Accountants (AICPA).”
Stephen Murphy, CEO and co-founder of Genesis Global, said:
“SOC 2 Type 2 certification validates the strength of the processes and controls we have to keep client data confidential and secure. With the largest, most innovative financial firms as clients and partners, our technology is the framework for modern, high-performance systems for trading, portfolio management and a range of financial operations and compliance requirements. Our expertise ensures we deliver the highest levels of data security, privacy and governance.”
The application development platform, software solutions and services “offered by Genesis are pillars of technology innovation in banks and other capital markets firms, asset managers, wealth managers, exchanges and other infrastructure providers.”
Genesis technology facilitates “the rapid development of secure, low-latency, high-throughput and high-scalability applications throughout the financial enterprise, including front-, middle- and back-offices, risk management, portfolio management and compliance.”
SOC 2 sets standards “for the quality and reliability of controls at a service organization relevant to data security, confidentiality and privacy and the integrity of the it uses to process client data.”
Certification requires “an independent audit to verify that rigorous safeguards are in place and effective in protecting client data.”
Schellman & Company LLC “conducted the SOC 2 Type 2 audit of Genesis, in accordance with AICPA protocols.” The Type 2 certification “earned by Genesis follows the company’s completion of SOC 2 Type 1 certification in March, 2022.”
As noted in the update, Genesis Global says it “enables financial markets organizations to innovate at speed through a software application development platform, prepackaged solutions and deep expertise in capital markets and financial services. In supercharging developers to rapidly deliver high-performance, resilient and secure applications, Genesis replaces the buy vs. build challenge with a buy-to-build solution.”
The Genesis platform is “designed with flexibility and performance at its core, providing developers with the frameworks, integrations and components required to automate manual workflows, enhance legacy systems and build entirely new applications.”
Featuring a resilient, real-time service-oriented architecture, Genesis excels “across the performance envelope of low-latency, high-throughput and high-scalability, powering mission-critical applicationsat the world’s leading financial institutions.”
Strategically backed by Bank of America, BNY Mellon and Citi, Genesis Global “has offices in Miami, New York, Charlotte, London, Leeds, São Paulo, Dublin and Bengaluru.”