Porter Keadle Moore (PKM) announced that end-to-end lending platform Lendsum has selected the firm to conduct its SOC 1 and SOC 2 reporting. PKM is an accounting and advisory firm that serves public and private financial institutions, insurers, technology companies and entrepreneurial small businesses.
As financial institutions continue to increase their scrutiny of third-party vendors, Lendsum recognized its need to provide up-front, independent reporting on its internal security procedures and controls. After evaluating several firms, Lendsum selected PKM to conduct its SOC 1 and SOC 2 reporting due to the firm's extensive experience working with financial technology (fintech) companies, banks and credit unions. The provider also cited PKM's willingness to provide superior feedback and support throughout the process as selection drivers.
The Madrid, Spain-based provider, rooted in a machine intelligence background, helps financial institutions navigate and simplify access to stored data, enabling banks and credit unions to make smarter, faster lending and credit decisions for customers and members.
"Porter Keadle Moore has been a true partner throughout the start of our SOC reporting, and has spent a considerable amount of time planning every step to ensure operations go uninterrupted," said Alex Thiriez, co-founder and CEO of Lendsum. "With their proven knowledge and strategic guidance, it enables our organization to proactively ensure compliance to our community financial institution clients as they work to compete with their regional and national counterparts."
"Regulatory pressures are forcing banks and credit unions to be increasingly stringent in their requirements when evaluating and working with fintech or service providers, and rightfully so," said Mike Morris, Systems Partner for Porter Keadle Moore. "Lendsum's SOC 1 and SOC 2 reporting is key to demonstrating that it has superior controls and protections in place to support engagement with potential clients and financial institutions."
About Lendsum
Lendsum is a modular end-to-end lending platform built to help financial institutions capture, organize and distill data into powerful insights. These insights have the power to revolutionize every part of the lending process from improving customer acquisition, enabling low-touch or even no-touch lending, eliminating fraud, customizing loan parameters and can help banks effectively manage client servicing. Lendsum's flexible platform goes beyond data to help clients quickly find and fix process bottlenecks, deploy parallel workflows and identify best practices and dynamically segment clients according to their risk profiles. Learn more at: www.lendsum.com.
About PKM
Founded in 1977, Porter Keadle Moore (PKM) has established itself as a respected accounting and advisory firm serving public and private organizations in the financial services, insurance and technology industries as well as a diverse group of entrepreneurial small business clients. At PKM, we provide holistic and growth-driven financial solutions built on a deep understanding of our clients' businesses. The firm is proud to represent more than 150 financial institutions and act as the leading advisory firm serving the growing craft brewery industry in Georgia, and has been named as one of the "Best Accounting Firms to Work For" by Accounting Today for more than decade. For more information, visit www.pkm.com, call 404-588-4200 or follow us on LinkedIn, Facebook and Twitter.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190204005429/en/
Contacts:
Jacob Hamilton
For Porter Keadle Moore
678-781-7226
jacob@williammills.com
Derek Howard
For Porter Keadle Moore
678-781-7215
derek@williammills.com
