Charmingly Eccentric Blog

VersaBank’s Subsidiary Receives SOC2 Type 1 Certification

LONDON, ON, Nov. 25, 2024 – VersaBank (“VersaBank” or the “Bank”) (TSX: VBNK) (NASDAQ: VBNK), a leader in digital banking and cyber security solutions, announced today that its subsidiary, DRT Cyber Inc.’s Penetration Testing division, Digital Boundary Group, Inc. (DBG), has achieved System and Organization Controls 2 (SOC2) Type 1 Certification.

This certification validates that DBG’s services meet the SOC Trust Services Criteria for Security, demonstrating their commitment to enhancing security and addressing cyber risks for their customers, specifically those in regulated industries. This achievement signifies a high level of assurance for clients entrusting DBG with their cybersecurity needs.

DBG’s SOC2 Type 1 Certification is a significant milestone that highlights the continuous efforts of VersaBank and its subsidiaries in providing top-notch cybersecurity solutions to mitigate threats and protect sensitive data. With this certification, customers can have increased confidence in the security measures implemented by DBG to safeguard their digital assets.

This recognition further solidifies VersaBank’s position as a trusted leader in the digital banking and cyber security space, setting the standard for excellence and reliability in the industry.

How This Will Affect Me?

For individual customers, VersaBank’s subsidiary obtaining SOC2 Type 1 Certification means enhanced security measures in place to protect personal and financial information. This will result in a greater sense of trust and confidence in using DBG’s services for digital security needs, ensuring peace of mind and reliability in safeguarding sensitive data.

How This Will Affect the World?

The achievement of SOC2 Type 1 Certification by DBG has broader implications for the world, as it signifies a commitment to cybersecurity best practices and adherence to industry standards. By strengthening security measures and mitigating cyber risks, VersaBank and its subsidiaries contribute to a more secure digital ecosystem, protecting businesses, organizations, and individuals from potential threats and vulnerabilities.

Conclusion

In conclusion, VersaBank’s subsidiary, DBG, obtaining SOC2 Type 1 Certification is a significant milestone that reinforces their commitment to providing top-notch cybersecurity solutions. This achievement not only benefits individual customers by enhancing security measures but also contributes to a more secure digital landscape globally. With a focus on excellence and reliability, VersaBank continues to lead the way in digital banking and cyber security, setting the standard for industry best practices and customer assurance.