Nelnet Diversified Services Maintains Effective Security Controls, According to Recent SOC 2(SM) Report

Nelnet Diversified Services (NDS), an experienced and trusted partner offering premier professional services and flexible, innovative technology solutions, announced that it has undergone a System and Organization Controls (SOC) 2 examination by independent auditor BARR Advisory, P.A. The resulting report confirms that NDS maintained effective controls over security, availability, and processing integrity of its Velocity system.

NDS has developed Velocity as the next-gen platform for loan application processing and servicing to meet the rapidly changing needs of the financial services industry and its customers. This modern, secure, and flexible technology platform is built on a microservices, API-first design and cloud infrastructure meant to put clients and customers first, prioritizing flexibility and the customer experience.

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In response to increasing pressure to mitigate the risk over financial auditing and controls, financial service organizations demand that vendors like NDS prove their compliance status and are independently confirmed to have compliance safeguards that function effectively. A SOC 2 report is designed to provide assurances about the effectiveness of controls related to security, availability, and processing integrity.

“Nelnet is committed to delivering a high quality, secure experience to our clients – and this achievement exemplifies that commitment,” said Brent Fausett, Managing Director of Consumer Services Technology. “Velocity was developed to give our clients a flexible, advanced loan origination and servicing solution that allows them to compete and thrive in the digital age. Our SOC 2 report further proves Velocity’s industry-leading privacy, confidentiality, processing integrity, availability, and security capabilities.”

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