The Type II SAS 70 audit and certification is a priority for WebEquity. It is a much more time-consuming, thorough process and demonstrates the level of our commitment to maintaining the operational controls that are suitable for administering our customers lending applications and data.
Omaha, NE (PRWEB) September 16, 2009
WebEquity Solutions™ LLC (WebEquity) announced today that it has successfully completed its SAS 70 Type II certification review. The Company's SAS 70 compliance is independently audited on an annual basis by Deloitte LLP.
Statement on Auditing Standard 70 (SAS 70) is a set of professional standards developed and maintained by the American Institute of Certified Public Accountants (AICPA) to assess the internal controls of a service organization. These standards provide transparency to the business and shows that the service organization has been thoroughly checked and deemed to have satisfactory controls and safeguards in place when hosting or processing information such as data belonging to customers they do business with. A Type II SAS 70 audit report includes the service organization's description of its controls, but goes further to add rigorous testing of these controls over a minimum six-month period of time.
"Our SAS 70 certification provides our customers with the assurance they need that their lending data is hosted in a secure, reliable operating environment," said Doug McGregor, CEO of WebEquity Solutions. "The Type II SAS 70 audit and certification is a priority for WebEquity. It is a much more time-consuming, thorough process and demonstrates the level of our commitment to maintaining the operational controls that are suitable for administering our customers lending applications and data."
WebEquity is the leading on-demand (software as a service (SaaS)) lending package in the market. This hosted lending software enables financial institutions to access their commercial, commercial real estate, agricultural and consumer loan information from anywhere via a Web browser and significantly reduces the demand on a bank's internal IT resources. The WebEquity solution processes a bank's customer financial and credit information which requires advanced data security, backup and recovery capabilities. The SAS 70 certification provides WebEquity's customers with the confirmation they need that the Company has invested in the system controls to effectively process and manage this sensitive data.
The WebEquity on-demand lending software is hosted at the world-class First National Technology Services (FNTS) data center in Omaha, Neb. FNTS also completes a SAS 70 Type II audit on an annual basis.
About WebEquity Solutions:
WebEquity™ is the proven leader in on-demand lending software. More than 500 financial institutions and 10,000 lending professionals use WebEquity to automate and streamline their lending process and reduce operational costs, while making more uniform and profitable credit decisions. The company offers financial institutions a distinct advantage with a single solution that works for all loan types, an on-demand model that provides centralized, anywhere access, and the flexibility to configure the system so it fits their lending practices. WebEquity serves institutions in the U.S., Canada and Australia. For more information call 800-264-0787 or visit http://www.webequitysolutions.com.