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Being SOC 2 Certified is Already Helping Us Close New Business

How a cloud-based fintech company uses Akitra to reap the benefits of compliance automation and enhance trust with its prospective customer.
Amberoon is a cloud-based fintech company in a very demanding industry, with customers who insist on rigorous compliance with frameworks such as SOC 2. Old line compliance solutions from the pre-cloud era just weren’t going to work for a SaaS company like Amberoon. The company turned to Akitra’s compliance platform for ease of use, automated monitoring and evidence gathering, and excellent support.

The Challenge

Amberoon’s CEO Shirish Netke said that his company, like other SaaS companies, competes in world where essentially all prospects and customers insist that their suppliers of critical services be compliant with SOC 2 and other compliance frameworks. The first effort to go through the compliance process, with a traditional approach, “was expensive, inflexible and far too onerous. It was just not at all adapted to today’s cloud-oriented, distributed-resources world which has become the norm in the post-pandemic era. We gave up on it before even completing it and looked for a better alternative”.
sanjeev kumar chaudhary headshot
“We really appreciate the automation capabilities of Akitra’s solution, especially for continuously monitoring key services and collecting compliance evidence. Our customers want to know that we are always on top of compliance, and an automated solution is the only way to do that.”
Shirish Netke
Shirish Netke
CEO and President

Akitra's Solution

Amberoon evaluated several alternate solutions for compliance, with a particular focus on automation. In the end, they selected Akitra, chosen for its ease of use and speed of implementation, from audit readiness through the audit process itself.

“What was particularly good was being able to have a clear view of the whole compliance process, knowing what work had been done and what still remained to be done,” said Netke. “It was also very useful for us — and for the external auditor — to be able to draw on a single data repository for all our policies, control statements and evidence.”

A key part of the solution, Netke added, was the quality of support provided by Akitra: “They provided us with excellent, really outstanding support. It was way beyond our expectations.”

The Result

Amberoon completed the whole SOC 2 Type 1 readiness and audit process quickly and efficiently. And since Akitra Compliance was already collecting evidence automatically and continuously from the beginning, Amberoon was able to roll directly into SOC 2 Type 2 compliance readiness. Type 2 requires observation and evidence gathering over a period of several months before the audit can take place, and the company was already much of the way there from having gone through Type 1.
sanjeev kumar chaudhary headshot
“We’re already seeing how being SOC 2 certified changes our status as a SaaS vendor and is helping us close business.”

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ambernoon
Cloud-based Fintech
Amberoon develops agile financial technologies to help smaller banks measure, monitor, manage and mitigate operational risk from financial crimes, create efficient systems for compliance, and measure performance against peer institutions.

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