Money Made Intelligent.1. What SOC 2 Is
SOC 2 is an attestation framework developed by the American Institute of Certified Public Accountants ("AICPA") for evaluating an organization's controls related to the Trust Services Criteria. A SOC 2 Type II report evaluates whether controls were designed appropriately and operated effectively over a review period, typically six to twelve months, as assessed by an independent CPA firm.
2. Status: In Process
Milli's SOC 2 certification is in process. Milli does not currently hold a SOC 2 report or attestation. Milli's information security program is designed to the AICPA SOC 2 Trust Services Criteria, and Milli is preparing for a SOC 2 Type II examination by an independent CPA firm. This page will be updated when the examination is complete. Milli's ISO 27001 and PCI DSS certifications are also in process.
3. Trust Services Criteria in Scope
| Criterion | What it covers at Milli |
|---|---|
| Security | Protection against unauthorized access through access controls, MFA, encryption, network security, monitoring, vulnerability management, and incident response |
| Availability | Infrastructure redundancy, backups, disaster recovery, capacity monitoring, and the uptime commitments in our Service Level Agreement |
| Confidentiality | Classification, encryption, and controlled handling of confidential financial data, and secure disposal at the end of retention |
4. Systems in Scope
The Milli iOS and Android applications, the Milli backend and APIs, Milli AI, data stores containing customer data, and supporting corporate systems and processes.
5. Continuous Compliance
Controls are monitored using automated evidence collection and reviewed quarterly by management. Once the SOC 2 examination begins, controls will be tested by the independent auditor, and any exceptions will be tracked to remediation.
6. Requesting Information
Once issued, SOC 2 reports are confidential and will be available to financial institution partners, enterprise customers, and regulators under a non-disclosure agreement. In the meantime, partners may request a summary of Milli's security controls and examination timeline at compliance@drivemilli.com.
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