Technology provider Fireminds, founded and headquartered in Bermuda, has successfully renewed its SOC2 accreditation.

SOC2 is an auditing procedure that ensures service providers securely manage their client’s privacy and organisational data.

Only one other company has the certification.

“This standard of service ensures that Fireminds’ financial services and insurance clients satisfy the requirements of regulatory authorities such as the Bermuda Monetary Authority, Cayman Islands Monetary Authority and the United States Securities and Exchange Commission,” a spokesman for the company said.

“Clients hosted with Fireminds can reference the Fireminds SOC2 as part of their own regulatory submissions for best practices, privacy and cyber codes of conduct, thus fast tracking the path to compliance when it comes to IT,” Michael Branco, Fireminds’ founder and chief executive officer, said.

Fireminds is a provider of cloud solutions, managed IT services, IT consulting, cybersecurity solutions, software development and IT procurement. They provide IT services in several markets in the Caribbean and in the United States.

A spokesman said Fireminds’ private cloud solutions running in Bermuda consistently achieve the SOC2 accreditation, audited by a Big Four firm. Fireminds has been operating under the SOC2 standard for four years and is Bermuda’s longest standing IT service provider holding the accreditation.

In addition to adhering to the rigid risk control standards of SOC2, the Fireminds IT consulting team also assist clients with writing and implementing their own frameworks for IT compliance with regulatory bodies. The Fireminds IT consulting team create documentation such as IT disaster recovery plans and maintain those risk management tools on paid engagements.

The annual audit is led by Jonathan Cassidy, vice-president of solutions, who has an extensive career with reinsurance companies and implementing comprehensive risk management frameworks.

In addition to over 130 plus controls, Fireminds has implemented a cybersecurity toolset centred around Fortinet SIEM.

The Fireminds cybersecurity team perform real-time checking of the security fabric, constantly scanning for threats and monitoring via their security operations centre. In addition, vulnerability and penetration tests are performed on a regular basis to minimise the risk of cybersecurity threats.

Fireminds is part of the ATN group of companies, a Nasdaq-listed telecom and technology company operating in the US and internationally.

• For more information about Fireminds, e-mail sales@fireminds.com or call 295-0000