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SAP Multi-Bank Connectivity SOC 1 Report
The scope of this SOC report includes SAP Multi-Bank Connectivity is hosted in SAP SE's data center St. Leon–Rot and Frankfurt, Germany.
SAP Multi-Bank Connectivity is a SaaS solution, running on SAP Cloud Platform. It connects banks and other financial institutes with their corporate customers on a secure network owned and managed by SAP. The network offers multiple services over one single channel while supporting the deployment of new ones. As key benefits, the solution automates financial transactions, reduces payment rejection rates, eases reconciliation and provides enhanced visibility to corporate treasury. It combines SAP expertise in applications, analytics, and in-memory computing to provide a standard, innovative technology for financial institutions and their corporate customers on a platform that accommodates future integration needs.
SOC1 reports specifically address service organizations internal control over financial reporting and controls specified by the service provider. The SOC1 reports are intended solely for the information and use of existing user entities (for ex. Existing customers of the service organization), their financial statement auditors and management of the service organization. SOC 1 reports are prepared in accordance with Statement on Standards for Attestation Engagements (SSAE) No.18, a new guidance that the auditors use to conduct a SOC1 engagement. SOC1 Type 1 covers management’s description of a service organization’s system and the suitability of the design of controls at a specific point in time, whereas a SOC1 Type 2 also includes the operating effectiveness of controls for a dedicated period of time.
SAP Multi-Bank Connectivity has regularly prepared SOC1 Type 2 audit reports by an independent 3rd party accountant. This version of the report covers the audit period 1. November 2020 to 30. April 2021 and the location St. Leon–Rot and Frankfurt, Germany.
The use of these reports is restricted. A copy of this report is available for all SAP Multi-Bank Connectivity customers who had productive and had financially-relevant systems during the audit period covered by the report.