What Are SOC 2 Controls?
SOC 2 controls refer to the specific policies, procedures, and safeguards that companies put in place to comply with the SOC 2 framework.
In MCA and small business lending, where bank statements, IDs, and financial records are exchanged constantly, SOC 2 controls are proof that sensitive information is handled responsibly.
SOC 2 is built around five trust service criteria: security, availability, processing integrity, confidentiality, and privacy. Operators rely on these controls to evaluate vendors and partners before allowing them access to underwriting workflows or client data.
How Do SOC 2 Controls Work?
SOC 2 controls are implemented across people, processes, and technology.
- Security safeguards: Access restrictions, encryption, and monitoring protect data from unauthorized use.
- Availability controls: Systems are designed to remain operational and resilient against outages.
- Processing integrity: Automated workflows ensure data is accurate, complete, and timely.
- Confidentiality practices: Sensitive data is shared only with approved roles and kept protected at rest and in transit.
- Privacy controls: Personal data is collected and processed according to agreed purposes.
In Heron, SOC 2 controls are embedded into the workflow to align with institutional requirements.
- System access: Only authorized users and systems can interact with submissions.
- Data protection: Bank statements, IDs, and financial records are encrypted and handled securely throughout intake, scrubbing, and CRM write-back.
- Auditability: Every action is logged to create a traceable record of how data was used.
- Partner trust: SOC 2 certification signals to brokers and funders that Heron meets the compliance bar required for handling financial workflows.
This makes Heron suitable for institutions that demand strict security and compliance assurances.
Why Are SOC 2 Controls Important?
For brokers and funders, SOC 2 controls are important because they are often a prerequisite for working with financial technology vendors. Without these controls, partners may refuse to share sensitive data, fearing compliance or security risks.
Heron’s adherence to SOC 2 practices reassures institutions that their submissions and client data are protected. This reduces vendor risk and builds trust with both funders and brokers.
Common Use Cases
SOC 2 controls are applied across security, compliance, and vendor management.
- Passing vendor due diligence checks for financial institutions.
- Protecting sensitive data like bank statements and IDs during intake and scrubbing.
- Logging system activity for audit and compliance purposes.
- Demonstrating resilience and uptime for high-volume workflows.
- Meeting the minimum compliance bar to serve banks, funders, and insurers.
FAQs About SOC 2 Controls
How does Heron apply SOC 2 controls?
Heron implements access restrictions, encryption, and monitoring throughout the workflow and maintains audit trails to align with SOC 2 standards.
Why are SOC 2 controls valuable for MCA brokers and funders?
They provide confidence that sensitive data is handled securely and make Heron an acceptable vendor for institutions with strict compliance requirements.
What outputs should teams expect from SOC 2 controls?
Teams benefit from secure intake, encrypted storage and transfer, documented audit trails, and assurance that the vendor is compliant with industry standards.