Quavo Completes First SOC 1 Type 1 Examination
Quavo, Inc. announced completion of its first SOC 1 Type 1 examination for its disputes technology platform used by financial institutions and technology companies.
Quavo, Inc. completed its first System and Organization Controls (SOC) 1 Type 1 examination, the company announced June 23 [1]. The certification covers Quavo's AI disputes technology platform used by banks and technology firms.
SOC 1 Type 1 reports assess whether a service organization's controls are designed appropriately to meet specified objectives at a point in time. For Quavo, the examination validates that controls over its fraud and disputes processing system meet standards required by regulated financial institutions. The certification addresses operational risk concerns banks face when outsourcing dispute management to third-party vendors.
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