Unifund Completes Successful SSAE 16, Type 2 Audit

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In today’s compliance-driven environment the marriage of repeatable processes and state-of- the-art technology is critical to assure business partners and consumers of the safety and integrity of information entrusted to third parties.

Unifund is pleased to announce that it has completed its third consecutive annual successful SSAE16 SOC1 Type 2 attestation report under the Statement on Standards for Attestation Engagements (SSAE) No. 16 Type 2. Being a nationally recognized industry leader that manages sensitive data for clients and consumers, Unifund has made this significant effort to assure its internal controls are robust and secure.

“SSAE 16, Type 2 provides our clients and prospective clients an independent, third-party verification that our processes have been comprehensively examined and meet or exceed the best practice standards in key service areas, thereby ensuring the highest level of security and reliability,” states Jeff Shaffer, Vice President of Information Technology and Analytics at Unifund.

Unifund’s SSAE 16, Type 2 covers eight specific areas, including: data communications, data security, physical security, remittance controls, user access controls, firewalls and external threats, application deployment management, and IT infrastructure change management. Ultimately, this audit verifies the design and operational effectiveness of Unifund’s controls against a strict series of international standards.

“Type 2 is more rigorous than Type 1 because it incorporates the auditor’s judgment about Unifund’s effectiveness following processes and maintaining controls during the one-year examination period,” explained Jason Kaster, Unifund’s COO.

SSAE 16 is an internationally recognized standard developed by the American Institute of Certified Public Accountants (AICPA) and is a recognized indicator of IT service quality.

Unifund is one of the country’s leading predictive analytics companies in the distressed consumer receivables industry.  Unifund purchases and manages receivables for themselves, public and private investors. Unifund offers others an opportunity to unlock the value of their dormant judgment and receivables portfolios through they unique predictive and guaranteed asset location information. Unifund’s management experience and expertise allows business partners to leverage unique capabilities and capacity which increases their returns.

 

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Posted in Collection Technology, Data Security, Debt Buying .

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