Bankful achieves SOC 1 type 2 certification

We’re proud to announce that Bankful has successfully completed its SOC 1 Type 2 audit.

This milestone builds on our previous SOC 1 Type 1 certification and further strengthens our commitment to secure, compliant, and reliable payment operations for our merchants and partners.

What this means for merchants

SOC 1 is an independent audit that evaluates how a company manages controls related to financial reporting. Because Bankful directly impacts how transactions are processed, reconciled, and reported, this certification matters to every merchant using our platform.

While Type 1 confirms our controls were properly designed, Type 2 goes further. It verifies that those controls operated effectively over a defined review period.

In short:
Our systems don’t just look secure on paper — they consistently perform as intended.

Why SOC 1 Type 2 is important

Achieving SOC 1 Type 2 provides merchants with:

• Proven financial integrity – Transactions are processed and reported accurately
• Operational reliability – Controls are tested over time, not just at a single point
• Reduced risk – Strong safeguards around access, system changes, and monitoring
• Independent validation – Oversight from a third-party auditor

For merchants, this means greater confidence in the accuracy, security, and stability of the Bankful platform.

What was reviewed

The audit covered the Bankful Payment Platform and Infrastructure System, including controls related to:

• Merchant and partner onboarding
• Transaction routing and refunds
• Logical and physical access controls
• System monitoring and incident response
• Change management
• Partner payouts
• Risk management and business continuity

Built for security from the start

Bankful does not store or process raw cardholder data. Our platform operates as a secure, tokenized orchestration layer between merchants and processors, minimizing exposure to sensitive information.

We also maintain:

• Encryption at rest and in transit
• Multi-factor authentication (MFA)
• 24/7 system monitoring and alerts
• Quarterly access reviews
• Ongoing risk assessments and disaster recovery testing

Security is overseen by a dedicated Security Officer, supported by a cross-functional leadership team and board-level reporting.

A continued commitment to trust

Completing SOC 1 Type 2 reflects our long-term investment in secure infrastructure and transparent operations. As merchants grow, expand, and scale, they need a payments partner that can stand up to enterprise-level scrutiny.

This achievement reinforces our promise:
Secure transactions. Reliable reporting. Built-in accountability.

Requesting the SOC 1 Report

To request access, please contact support@bankful.com or reach out to your Account Manager.

Bankful remains committed to raising the standard for security and operational integrity in payment processing. We’re proud of this milestone — and even more excited about what it enables for our merchants moving forward.