Clair, a New York-based financial technology company, announced that Sensiba San Filippo LLP has certified Clair as Service Organization Control (SOC) 2 Type II compliant. This certification confirms that Clair achieved the AICPA’s Trust Services Criteria for Security, Availability, Confidentiality, Processing Integrity, and Privacy.
Developed by the American Institute of Certified Public Accountants (AICPA), the SOC 2 information security standard is an audit report on the examination of controls relevant to the trust services criteria categories covering security, availability, processing integrity, confidentiality and privacy. After announcing its successful completion of the SOC 2 Type I audit earlier this year, Clair has now passed the next level of security and compliance. While the SOC 2 Type I certification states that Clair was compliant at a specific point in time, the SOC 2 Type II certification confirms that Clair’s security and compliance controls have been effective for more than six months.
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Nico Simko, CEO of Clair, states, “Our goal is for our partners and users to never have to think about whether Clair is secure. Our business requires us to prioritize security and compliance, so we want to always meet or exceed industry standards for both as we become the most competitive on-demand pay provider in the market.”
There are a number of states considering legislation or regulations of on-demand pay providers. Because Clair does not charge employees for wage advances, Clair is confident that it will be able to satisfy the requirements of the laws and rules being considered. This, together with its SOC 2 Type II certification, solidifies Clair’s as a leader in security and compliance in the on-demand pay space.
This announcement comes during a period of high growth for Clair’s, as the company recently announced partnerships with leading HR tech platforms When I Work and Workwell, as well as a $15M Series A funding round earlier this year.
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