GreenBox POS Partners with Armanino Auditors to Obtain SOC 2 Compliance

Rhea-AI Summary

GreenBox POS (NASDAQ: GBOX) has announced a partnership with Armanino, a leading accounting firm, to conduct a SOC 2 audit. This audit aims to achieve compliance, demonstrating GreenBox's commitment to securing customer data and maintaining data system integrity. SOC 2 compliance is critical for technology and SaaS firms that manage sensitive customer information. Upon successful completion, GreenBox will enhance its capabilities to monitor security threats and safeguard client data.

Positive

• Partnership with Armanino to conduct SOC 2 audit, enhancing data security.
• Commitment to achieving SOC 2 compliance, demonstrating focus on customer data protection.

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• None.

Upon Completion SOC 2 Audit to Attest to GreenBox Operational and Technological Trustworthiness

SAN DIEGO, CA, April 23, 2021 (GLOBE NEWSWIRE) -- GreenBox POS (NASDAQ: GBOX ("GreenBox", the "Company"), an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions, announced a partnership with Armanino, one of the top 25 largest independent accounting and business consulting firms in the United States, to audit GreenBox in order to obtain SOC 2 compliance.

SOC 2 (Systems and Organizational Controls) Compliance is part of the American Institute of CPAs’ Service Organization Control reporting platform. SOC 2 applies to technology and SaaS companies that handle or store customer data and looks to ensure the integrity of their data systems and safeguards. GreenBox will work closely with Armanino throughout the technical audit to achieve compliance and provide clients with the necessary protections.

"GreenBox is committed to safeguarding our infrastructure as well as our customer data and we are pleased to work with Armanino towards gaining SOC 2 compliance and demonstrating this commitment,” said Fredi Nisan, Chief Executive Officer of GreenBox POS. “After becoming SOC 2 compliant, GreenBox will have the tools in place to monitor activity, recognize threats and alert parties about any indications of security problems.”

About GreenBox POS

GreenBox POS (NASDAQ: GBOX) is an emerging financial technology company leveraging proprietary blockchain security to build customized payment solutions. The Company's applications enable an end-to-end suite of turnkey financial products, reducing fraud and improving the efficiency of handling large-scale commercial processing volumes for its merchant clients globally. For more information, please visit the Company's website at www.greenboxpos.com.

Forward-Looking Statements Disclaimer

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set out in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.

Investor Relations Contact
Mark Schwalenberg
MZ Group - MZ North America
312-261-6430
GBOX@mzgroup.us
www.mzgroup.us

FAQ

What is GreenBox POS (GBOX) doing to enhance data security?

GreenBox POS is partnering with Armanino to conduct a SOC 2 audit, aiming to achieve compliance and improve its data protection measures.

Why is SOC 2 compliance important for GreenBox POS (GBOX)?

SOC 2 compliance is vital for GreenBox as it demonstrates their commitment to safeguarding customer data and maintaining the integrity of their data systems.

What does SOC 2 compliance entail for technology companies like GBOX?

SOC 2 compliance involves ensuring the security and integrity of customer data systems, which is critical for tech and SaaS companies managing sensitive information.

Who is conducting the SOC 2 audit for GreenBox POS (GBOX)?

The SOC 2 audit for GreenBox POS is being conducted by Armanino, one of the largest independent accounting firms in the U.S.

When was the SOC 2 audit announcement made by GreenBox POS (GBOX)?

The announcement regarding the SOC 2 audit partnership with Armanino was made on April 23, 2021.