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

LINCOLN, Neb., Dec. 8, 2021 /PRNewswire/ — Nelnet Diversified Services (NDS), an experienced and trusted partner offering premier professional services and flexible, innovative technology solutions, announced today that it has undergone a System and Organization Controls (SOC) 2SM 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.

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 2SM 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 2SM report further proves Velocity’s industry-leading privacy, confidentiality, processing integrity, availability, and security capabilities.”

Current and prospective customers interested in a copy of our SOC 2SM or SOC 1® reports may contact our Client Services team at 877.303.0533 or clientservices@nelnet.net.

About Nelnet and Nelnet Diversified Services: A diverse company headquartered in Lincoln, Nebraska, Nelnet, Inc. (NYSE: NNI) is a technology company, idea incubator, start-up accelerator, and education expert. For over 40 years, Nelnet has combined great people, effective processes, and reliable technology to serve our customers and make dream possible.

Nelnet’s largest operating segment, Nelnet Diversified Services, provides advanced technology and intuitive services for all types of clients – banks and credit unions, online lenders, fintechs, state agencies, and nonprofits – enabling them to have the freedom, flexibility, and confidence to best serve their customers.

About BARR Advisory: BARR Advisory is a cloud-based security and compliance solutions provider specializing in cybersecurity consulting and compliance for Software as a Service (SaaS) companies. A trusted advisor to some of the fastest growing cloud-based organizations around the globe, BARR simplifies compliance across multiple regulatory and customer requirements in highly regulated industries, including technology, financial services, healthcare, and government.

SOURCE: Nelnet Diversified Services