A partner for advisors is actively growing the industry’s confidence in its security safeguards after obtaining a key certification.
Wolters Kluwer ELM Solutions, a major player in transformational, technology-based solutions, recently attained STAR Gold-level Certification for its Passport Hosting Services.
“In a global business environment, where data security and data privacy are critical requirements that drive important technology decisions – particularly when hosting in the cloud – we gave made a strong commitment to not just meet, but to exceed the data security and regulatory requirements of our clients,” said Glenn Paredes, vice president of global operations for ELM Solutions. “The CSA STAR Gold-level Certification further demonstrates our ability to deliver and maintain the highest level of an effective information security management system for supporting Passport Hosting Services.”
The stamp of certification for cloud security companies carries a lot of weight for those businesses whose bread and butter is handling sensitive cyber information. CRM2 has further heightened security concerns for the wealth management industry.
The Cloud Security Alliance (CSA) Security, Trust and Assurance Registry (STAR) Gold-level Certification is a rigorous third-party assessment of the security controls in place for a cloud service provider. CSA STAR Certification attests to the effectiveness of an organization's information security management system (ISMS) and ensures that its scope, processes, and objectives are suitable for its products and/or services.
In order to receive this certification, ELM Solutions was required to demonstrate that its Passport Hosting Services capabilities conform to ISO 27001 standards and addressed the CSA CCM (Cloud Controls Matrix) Controls. Passport Hosting Services were also assessed against the STAR Capability Maturity Model.
The CSA STAR Certification for Passport Hosting Services verifies that ELM Solutions:
- Employs an information security management system suitable for its products, services, and processes;
- Provides the resources necessary to support the operation and monitoring of its products and services;
- Ensures that the Passport Hosting Services offering has been designed to meet customer, statutory, and regulatory requirements; and
- Monitors, measures, and continually improves the effectiveness of the information security management system, including the implementation of internal audits and a management review process
In addition to attaining the CSA STAR certification, ELM Solutions performs annual SOC 1 Type 2 and SOC 2 Type 2 audits, and also has achieved ISO 27001:2013 certification for its Passport Hosting Services.