PRNewswire
Mumbai (Maharashtra) [India], August 21: Basiz Fund Service Private Limited, a leading player in the fund services industry, is now ISO 27001 certified, having achieved compliance with the rigorous ISO 27001:2022 standard. This certification comes after weeks of due diligence and evidence gathering by the certification agency. This certification comes after weeks of due diligence and evidence gathering by the certification agency.
This certification is the international standard for information security management systems. The recent additions to the certification process include checks and control points on organisational preemptive and reactive measures to tackle current cyber vulnerabilities, such as ransomware, remote work, cloud issues, and compliance with data protection law, among other things. This certification follows a stringent evaluation of over 100 checkpoints, including Basiz's key organisational controls, manuals, procedures, work instructions, and records.
Dr. Sujata Seshadrinathan, Co-Founder and Director, Digital Transformation, puts this in perspective, "An organisation requires the following to be implemented to achieve ISO 27001 certification;
1. Implementing an Information Security Management System (ISMS)
2. Conducting a risk assessment
3. Developing security policies and procedures
4. Having in place risk management processes for implementing controls
5. Reviewing the effectiveness of the ISMS
By successfully implementing and proving compliance with the above, we have been certified as an ISO 27001 compliant organisation."
CA. Aditya Sesh, Founder and Managing Director, adds, "Incidentally, Basiz was the first in the Fund Administration Industry to be SOC certified in 2011. We followed this up in 2018 with an SSAE certification, again the first in the Fund Administration Industry. In 2022, we were certified & successfully recertified under the even more stringent SOC 1, Type 2 standards."
About Basiz:
Basiz Fund Service Private Limited (Basiz) has been in business for two decades. Incorporated in Chennai as a Private Limited Company in 2004, Basiz is engaged in the business of providing, among other things, Fund Accounting, Fund Administration, Fund Tax Services covering the USA, India, and Singapore, FinTech, and LegalTech products, Financial Statements Compilation, Outsourcing of Accounting and Book-Keeping, AML/KYC Services, Middle Office Services, and Basiz People Services (Human Resource Management and Talent Acquisition Area). Basiz has over 200 highly skilled resources from three different nationalities, based across four offices in India: Chennai, Mumbai, Gandhinagar (GIFT City, India's first offshore financial centre), Tripura, and Indore, as well as offices in Singapore, Bahrain, and the United States. The Basiz Team and Board are multicultural and transcontinental, comprising individuals from diverse nationalities. Basiz is entrepreneurially owned and professionally managed.
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