Core Insights - VersaBank's subsidiary DRT Cyber Inc. has achieved SOC2 Type 1 Certification for its Penetration Testing division, Digital Boundary Group, Inc., enhancing customer confidence in its cybersecurity services [1][2] - The certification aligns with stringent Trust Services Principles, including Security, Availability, Processing Integrity, Confidentiality, and Privacy, and was validated through a compliance audit by Ernst & Young [2][3] Company Overview - DRT Cyber Inc. specializes in cybersecurity services, conducting approximately 850 security engagements annually for government agencies and global corporations across critical industries such as manufacturing, financial services, and energy [3] - VersaBank operates a branchless, digital banking model that targets underserved segments of the banking industry, leveraging technology for efficiency and risk mitigation [4] - The bank recently launched a Receivable Purchase Program (RPP) funding solution aimed at the US market, building on its successful experience in Canada [4]
VERSABANK SUBSIDIARY DRT CYBER STRENGTHENS CUSTOMER VALUE PROPOSITION WITH ROBUST SOC2 TYPE 1 CERTIFICATION