Marble Financial Inc (CSE:MRBL) (OTCMKTS:MRBLF) (FRA:2V0) reports that its wholly owned subsidiary Inverite Verification Inc has completed its compliance with SOC 2 Type 1 Standards.
Inverite is a leading Canadian open banking and consumer-directed finance provider offering innovative, secure, and cost-effective banking verification solutions to the financial services industry have achieved the widely recognized auditing standard developed by the American Institute of Certified Public Accountants (AICPA).
Marble said the subsidiary’s SOC 2 Type 1 compliance verifies its activities meet all relevant trust principles, which have been confirmed through an in-depth audit.
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The company noted that financial service companies are increasingly using outside solutions like Inverite to perform real-time bank and identity verification services that are core to their business operation and strategy. The industry demand for high-level trust and transparency in financial technology providers' operations, processes, and results, has grown considerably.
Marble said the SOC 2 Type 1 report, conducted by AuditWerx, evaluated and issued opinions on Inverite’s instant bank verification system and on the suitability of the design of its controls relevant to the effectiveness of security controls in the platform and product.
“Since its founding, data security has been one of Inverite's core values," said Lloyd Evetts, vice president of business development for Inverite, in a statement.
"Having these systems and processes reviewed and audited by a third-party CPA for our SOC 2 Type 1 report confirms our commitment to the principles of the AICPA" (American Institute of CPA’s).
Other company news
In other company news, Marble said it has granted 375,000 stock options to certain management and employees. The stock options expire in five years, vest in equal one-quarter amounts on the date of grant, and in each of the first year, second year, and third-year anniversaries from the date of grant and are issued at $0.23 per share.
Marble will also issue 100,000 restricted share units (RSU) to a consultant of the company, pursuant to Marble’s long-term performance incentive plan. The RSU’S vests as follows: 25,000 RSU, 25% of which vest on August 01, 2021 and 25% every three months thereafter. The grant of the RSU’s and options are subject to approval from the CSE.
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