Use Open Banking Use Cases with SOC 3

Helping banks and fintechs create better ecosystems through APIs & partnerships.

A Service Organization Control 3 (Soc 3) report outlines information related to a service organization’s internal controls for security, availability, processing integrity, confidentiality or privacy. These five areas are the focuses of the AICPA Trust Services Principles and Criteria. A Soc 3 reports on the same information as a Soc 2 report. The main difference between the two is that a Soc 3 is intended for a general audience. These reports are shorter and do not include the same details as a Soc 2 report, which is distributed to an informed audience of stakeholders. Due to their more general nature, Soc 3 reports can be shared openly and posted on a company’s website with a seal indicating their compliance.