Post-trade processing vendor Torstone Technology has been awarded the International Standard Organization (ISO) 27001:2013 specification by the British Standards Institution (BSI), officials say.
The ISO 27001:2013 is an information security management specification, which is only awarded “to those companies that can meet the standard as judged by accredited, independent auditors,” according to a company statement.
Torstone Technology makes the Inferno Back-Office platform, marketed to highly regulated firms that are responsible for large volumes of customer data. Dealing with such a sensitive class of data requires strict cyber-security standards, says Torstone’s CEO.
“In recent years there have been high profile cases of IT security failures and they are often due to policy breaches rather than technical failures,” says Brian Collings, Torstone’s CEO, in a statement. “Complying with ISO 27001 is an on-going effort which ensures senior management and all staff recognise the importance of following strict IT security protocol to protect our clients’ data.”
The ISO 27001:2013b award certifies that Torstone evaluates risks and has measures in place to mitigate them, operates with a comprehensive set of information security controls and has implemented an overarching program “to ensure that the information security controls meet the information security needs for both stakeholders and customers on an ongoing basis,” according to a company statement.
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